The following are the revenue items in the Income Statement of a domestic corporation for the year 2021: Gain from sale of office equipment, P20,000 Gain from sale of land not used in business (selling price of P300,000), P100,000 Gain from sale of shares of stock directly to the buyer, P50,000 Gain from sale of shares of stock through the stock exchange (selling price, P200,000), P10,000 Bad debt recovery, P50,000 How much is the total capital gains tax? a. P21,250 b. P25,500 c. P60,000 d. P45,000
The following are the revenue items in the Income Statement of a domestic corporation for the year 2021: Gain from sale of office equipment, P20,000 Gain from sale of land not used in business (selling price of P300,000), P100,000 Gain from sale of shares of stock directly to the buyer, P50,000 Gain from sale of shares of stock through the stock exchange (selling price, P200,000), P10,000 Bad debt recovery, P50,000 How much is the total capital gains tax? a. P21,250 b. P25,500 c. P60,000 d. P45,000
SWFT Essntl Tax Individ/Bus Entities 2020
23rd Edition
ISBN:9780357391266
Author:Nellen
Publisher:Nellen
Chapter18: Comparative Forms Of Doing Business
Section: Chapter Questions
Problem 18P
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Question
The following are the revenue items in the Income Statement of a domestic corporation for the year 2021:
Gain from sale of office equipment, P20,000
Gain from sale of land not used in business (selling price of P300,000), P100,000
Gain from sale of shares of stock directly to the buyer, P50,000
Gain from sale of shares of stock through the stock exchange (selling price, P200,000), P10,000
Bad debt recovery, P50,000
How much is the totalcapital gains tax ?
Gain from sale of office equipment, P20,000
Gain from sale of land not used in business (selling price of P300,000), P100,000
Gain from sale of shares of stock directly to the buyer, P50,000
Gain from sale of shares of stock through the stock exchange (selling price, P200,000), P10,000
How much is the total
a. P21,250
b. P25,500
c. P60,000
d. P45,000
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