Mary Grace, a resident of Quezon City, single, owns a restaurant in Aguinaldo and in Reyes Street, Quezon City. In 2021 it had the following data: Gross receipts Expenses Aguinaldo Branch P4,055,015.20 P3,296,423.10 Reyes Branch 3,624,980.60 3,025,114.80 Requirements: 1. Community tax payable if paid on April 30, 2022 2. Community tax payable for 2022 if a corporation paid in January 2022.
Mary Grace, a resident of Quezon City, single, owns a restaurant in Aguinaldo and in Reyes Street, Quezon City. In 2021 it had the following data: Gross receipts Expenses Aguinaldo Branch P4,055,015.20 P3,296,423.10 Reyes Branch 3,624,980.60 3,025,114.80 Requirements: 1. Community tax payable if paid on April 30, 2022 2. Community tax payable for 2022 if a corporation paid in January 2022.
Chapter4: Gross Income: Concepts And Inclusions
Section: Chapter Questions
Problem 33P
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Mary Grace, a resident of Quezon City, single, owns a restaurant in Aguinaldo and in Reyes Street,
Quezon City. In 2021 it had the following data:
Gross receipts Expenses
Aguinaldo Branch P4,055,015.20 P3,296,423.10
Reyes Branch 3,624,980.60 3,025,114.80
Requirements:
1. Community tax payable if paid on April 30, 2022
2. Community tax payable for 2022 if a corporation paid in January 2022.
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