21. Ethel received in 2020 the followingpassive income within Philippines, net ofapplicable tax, if any:Interest on bank deposit under ForeignP212,500Currency DepositRoyalty onbooks94,500Dividend income from a domesticcorporationIf Ethel is a resident alien, the final tax onthe above passive income would amount tod. P84,000а. Р41,194b. P46,500с. Р64,00022.144,000If Ethel is a non-resident alien engagedin trade or business, the final tax on theabove passive income would amount tod. P84,000с. Рб4,000b. P46,500а. Р41,194

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Answered: 21. Ethel received in 2020 the…

21. Ethel received in 2020 the following passive income within Philippines, net of applicable tax, if any: Interest on bank deposit under Foreign P212,500 Currency Deposit Royalty on books 94,500

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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Question

21. Ethel received in 2020 the following
passive income within Philippines, net of
applicable tax, if any:
Interest on bank deposit under Foreign
P212,500
Currency Deposit
Royalty on
books
94,500
Dividend income from a domestic
corporation
If Ethel is a resident alien, the final tax on
the above passive income would amount to
d. P84,000
а. Р41,194
b. P46,500
с. Р64,000
22.
144,000
If Ethel is a non-resident alien engaged
in trade or business, the final tax on the
above passive income would amount to
d. P84,000
с. Рб4,000
b. P46,500
а. Р41,194

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