Sonia, an executive of Ang Probinsyano Promotions, earned in 2018 P1,200,000 compensation income, inclusive of 13th month pay and other benefits amounting to P190,000. Aside from her employment, she owns a farm, with gross sales of P3,000,000. His cost of sales and operating expenses are P900,000 and P450,500 respectively, and with non-operating income of P200,000. Compute for the Taxable Income in her employment. _____________________________ Compute for the Taxable Income in her business. _________________________________ Compute for the Total Income Tax Payable/ Tax Due: _____________________________ Compute for the Total Income Tax Payable/ Tax Due if she signify her intention to be taxed at 8% Optional Gross Receipts Tax. _____________________________
Sonia, an executive of Ang Probinsyano Promotions, earned in 2018 P1,200,000 compensation income, inclusive of 13th month pay and other benefits amounting to P190,000. Aside from her employment, she owns a farm, with gross sales of P3,000,000. His cost of sales and operating expenses are P900,000 and P450,500 respectively, and with non-operating income of P200,000. Compute for the Taxable Income in her employment. _____________________________ Compute for the Taxable Income in her business. _________________________________ Compute for the Total Income Tax Payable/ Tax Due: _____________________________ Compute for the Total Income Tax Payable/ Tax Due if she signify her intention to be taxed at 8% Optional Gross Receipts Tax. _____________________________
Chapter19: Deferred Compensation
Section: Chapter Questions
Problem 28P
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Question
Sonia, an executive of Ang Probinsyano Promotions, earned in 2018 P1,200,000 compensation income, inclusive of 13th month pay and other benefits amounting to P190,000. Aside from her employment, she owns a farm, with gross sales of P3,000,000. His cost of sales and operating expenses are P900,000 and P450,500 respectively, and with non-operating income of P200,000.
- Compute for the Taxable Income in her employment. _____________________________
- Compute for the Taxable Income in her business. _________________________________
- Compute for the Total Income Tax Payable/ Tax Due: _____________________________
- Compute for the Total Income Tax Payable/ Tax Due if she signify her intention to be taxed at 8% Optional Gross Receipts Tax. _____________________________
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