Poly received a TV set from her employer Alfa Mart Company, a business entity engaged in the distribution of home appliances, in exchange for payment of her two-month salary amounting to Php. 50,000.00. The merchandise, with a prevailing market price of Php. 55,000, cost the company Php. 25,000.00. Determine Poly's taxable compensation income.

Poly received a TV set from her employer Alfa Mart Company, a business entity engaged in the distribution of home appliances, in exchange for payment of her two-month salary amounting to Php. 50,000.00. The merchandise, with a prevailing market price of Php. 55,000, cost the company Php. 25,000.00. Determine Poly's taxable compensation income.

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter11: Property Dispositions

Section: Chapter Questions

Problem 87TA

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