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[Fourth Item: Problem Solving] Izzy Transport is engaged in the transportation business. It is registered as a domestic common carrier by land. The receipts for June of the current taxable year are as follows:
| Sourced from the transport of passengers | P1,800,000 |
| Sourced from the transport of goods | 2,200,000 |
| Sourced from the transport of cargoes | 800,000 |
The common carriers’ tax due and payable is
a. Nil
b. P54,000
c. P78,000
d. P90.000
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- [Fifth Item: Multiple Choice] Hyzel Shipping Transport is engaged in the transportation business It is engaged in domestic shipping activities. The following receipts for June of the current taxable year are as follows: Sourced from the transport of passengers P1,800,000 Sourced from the transport of goods 2,200,000 Sourced from the transport of cargoes 800,000 The common carriers’ tax due and payable is a. Nil b. P54,000 c. P78,000 d. P90.000A derived its income from its self-operated talpakan business. The details of his business for 2021 are as follows: Gross Receipts - P100,000.00 Operating Expenses - P50,000.00 Income taxes withheld in general - P10,000.00 Question: What is A's taxable income? Group of answer choices P40,000.00 P50,000.00 P90,000.00 P100,000.001.Whatare the conditions under Income Tax Act, ACT 896 forexpenditure to be allowed as a deduction when computingbusiness, employment or investment income?2.List5 allowable deductions from the assessable income3.Assumethat the written down value of assets in the pool 2 isGH 100 000 and the repairs and improvements is GH 20 000What will be the tax allowable expenses?4.Giventhat the assessable income for the company isGH 140 000 the finance cost is GH 90 000 and there is nocorresponding finance gain, what is the allowable expense?
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