ng to P400,000. Its other income included bank interest income of P8,000, net of final withholding tax and it received dividend income from a domestic corporation of P10,000. Reyes has a compensation income of P200,000 and shares income from partnership equally with Bunye. The net taxable income of the partnership is AP-O B. P400,000
ng to P400,000. Its other income included bank interest income of P8,000, net of final withholding tax and it received dividend income from a domestic corporation of P10,000. Reyes has a compensation income of P200,000 and shares income from partnership equally with Bunye. The net taxable income of the partnership is AP-O B. P400,000
Chapter14: Choice Of Business Entity—operations And Distributions
Section: Chapter Questions
Problem 20P
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Question
&B partnership with Reyes and Bunye as partners in general partnership and had a net income before tax amounting to P400,000. Its other income included bank
interest income of P8,000, net of final withholding tax and it received dividend income from a domestic corporation of P10,000. Reyes has a compensation income of
P200,000 and shares income from partnership equally with Bunye. The net taxable income of the partnership is
AP-O
B. P400,000
CP410,000
D. P 408,000
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