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1. In 2015, Ms. Maya earned P450,000 compensation income but incurred P120,000 net loss in her business. What is her taxable income assuming she incurred personal expenses of P100,000? a. P450,000 b. P550,000 000 2a c. P 330,000 d. P 570,000

1. In 2015, Ms. Maya earned P450,000 compensation income but incurred P120,000 net loss in her business. What is her taxable income assuming she incurred personal expenses of P100,000? a. P450,000 b. P550,000 000 2a c. P 330,000 d. P 570,000

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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1. In 2015, Ms. Maya earned P450,000 compensation income but incurred P120,000 net loss in her business. What is her taxable income assuming she incurred personal expenses of P100,000? a. P450,000 b. P550,000 000 23 c. P 330,000 d. P 570,000 daiw nebrolA 2. Mrs. Sipalay had a gross taxable compensation income of P400,000. She also earned an additional P2,000 by investing her money in time deposits plus P3,000 interest income from lending money to a friend. Compute her taxable income. a. P303,000 b. P302,000 c. P300,000 d. P403,000 000 002 an dstomo 3. Ms. Santander had a business net income of P300,000. She also earned P5,000 commission from selling cellular cards and P12,000 dividends from a domestic corporation. Compute her taxable income. a. P300,000 b. P312,000 c. P305,000 d. P317,000 bles 000.052 ads 255
Transcribed Image Text:1. In 2015, Ms. Maya earned P450,000 compensation income but incurred P120,000 net loss in her business. What is her taxable income assuming she incurred personal expenses of P100,000? a. P450,000 b. P550,000 000 23 c. P 330,000 d. P 570,000 daiw nebrolA 2. Mrs. Sipalay had a gross taxable compensation income of P400,000. She also earned an additional P2,000 by investing her money in time deposits plus P3,000 interest income from lending money to a friend. Compute her taxable income. a. P303,000 b. P302,000 c. P300,000 d. P403,000 000 002 an dstomo 3. Ms. Santander had a business net income of P300,000. She also earned P5,000 commission from selling cellular cards and P12,000 dividends from a domestic corporation. Compute her taxable income. a. P300,000 b. P312,000 c. P305,000 d. P317,000 bles 000.052 ads 255
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