A taxpayer engaged in manufacturing operations bought a machine with a salvage value of P50,000 and estimated useful life of 5 years for P650,000. What is the carrying value of the machine after 2 years of operation under the sum-of-the-Year-Digit Method? P290,000 P240,000 P190,000 P250,000
On January 1, 2018, Logan’s wife, Irma, died while giving birth to a child, but the child survived. Logan took care of the child bringing him wherever he was assigned. If Logan is a resident citizen, how much personal and additional exemptions could Logan avail of when he files his Income tax return for 2018 income?
P25,000
P50,000
none
P75,000
A taxpayer engaged in manufacturing operations bought a machine with a salvage value of P50,000 and estimated useful life of 5 years for P650,000. What is the carrying value of the machine after 2 years of operation under the sum-of-the-Year-Digit Method?
P290,000
P240,000
P190,000
P250,000
Assuming Ana is a VAT-registered taxpayer, how much is her total income tax expense assuming she opted to be taxed at 8% income tax rate?
P321,500
P342,500
P351,500
P358,000
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