A resident citizen, mamied, with two dependent children, received the following income: Business income, Philippines Business income, Singapore Interest on peso deposit, BDO Interest on US$ deposit, BDO ($1,000 x P 54) Interest bank deposit in Singapore Dividend from domestic corporation Prize (TV) won in a local lottery PCSOflotto winrings Dividend from foreign corporation P1,000,000 300,000 30,000 $4,000 120,000 250,000 20,000 150,000 30,000 The total final tax is: Except that if he is a non-resident citizen, the total final tax is:
A resident citizen, mamied, with two dependent children, received the following income: Business income, Philippines Business income, Singapore Interest on peso deposit, BDO Interest on US$ deposit, BDO ($1,000 x P 54) Interest bank deposit in Singapore Dividend from domestic corporation Prize (TV) won in a local lottery PCSOflotto winrings Dividend from foreign corporation P1,000,000 300,000 30,000 $4,000 120,000 250,000 20,000 150,000 30,000 The total final tax is: Except that if he is a non-resident citizen, the total final tax is:
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
1
Transcribed Image Text:A resident citizen, maried, with two dependent children, received the following income:
Business income, Philigpines
Business income, Singapore
Interest on peso deposit, BDO
Interest on US$ deposit, BDO ($1,000 x P 54)
Interest bank deposit in Singapore
Dividend from domestic corporation
Prize (TV) won in a local lottery
PCSOlotto winnings
Dividend from foreign corporation
P1,000,000
500,000
50,000
34,000
120,000
250,000
20,000
150,000
50,000
The total final tax is:
Except that if he is a non-resident citizen, the total final tax is:
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps with 1 images
Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education