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1) 2) PTS 3) The taxable income of Goblin is : Goblin's total final taxes on his passive income is How much is his income tax due

1) 2) PTS 3) The taxable income of Goblin is : Goblin's total final taxes on his passive income is How much is his income tax due

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Goblin, a Filipino citizen, had the following data for taxable year 2019 ($ to Peso conversion = P50): Use the graduated tax table Salaries Business income 8,000 Business expenses Interest income from banks Interest income from FCDU Interest income long term deposit (existing for more than 5 years) Royalty income Php (20% from books, 80% other royalties) Dividend income Philippines Prizes won in a contest 1) 2) PTS 3) P 300,000 600,000 150,000 Php 20,000 Php 15,000 Php 15,000 30,000 From domestic corporation Php 12,000 From mutual fund company Php Php How much is his income tax due Abroad $5,000 8,000 11,000 The taxable income of Goblin is : Goblin's total final taxes on his passive income is $ $ 2,000
Transcribed Image Text:Goblin, a Filipino citizen, had the following data for taxable year 2019 ($ to Peso conversion = P50): Use the graduated tax table Salaries Business income 8,000 Business expenses Interest income from banks Interest income from FCDU Interest income long term deposit (existing for more than 5 years) Royalty income Php (20% from books, 80% other royalties) Dividend income Philippines Prizes won in a contest 1) 2) PTS 3) P 300,000 600,000 150,000 Php 20,000 Php 15,000 Php 15,000 30,000 From domestic corporation Php 12,000 From mutual fund company Php Php How much is his income tax due Abroad $5,000 8,000 11,000 The taxable income of Goblin is : Goblin's total final taxes on his passive income is $ $ 2,000
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