3. A resident citizen of the Philippines had the following data for the calendar year 2019: * Gross income from trading business Expenses and losses in the trading business Capital gain on a direct sale to a buyer of shares of stocks of a domestic |corporation Capital gain on sale of a piece of land in the Philippines on a selling price of P 2000, 000 Dividend from domestic corporation P 800, 000 450, 000 150, 000 500, 000 20, 000 The taxable income at the end of year subject to the year-end graduated income tax for individuals is:

3. A resident citizen of the Philippines had the following data for the calendar year 2019: * Gross income from trading business Expenses and losses in the trading business Capital gain on a direct sale to a buyer of shares of stocks of a domestic |corporation Capital gain on sale of a piece of land in the Philippines on a selling price of P 2000, 000 Dividend from domestic corporation P 800, 000 450, 000 150, 000 500, 000 20, 000 The taxable income at the end of year subject to the year-end graduated income tax for individuals is:

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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