I. OBJECTIVES: 1. Compute the gross taxable income and tax due II. TOPIC: INCOME AND BUSINESS TAXATION III. DIRECTION: A.Compute the gross taxable income 1. Jacqueline Cruz generated annual compensation income of P 455,000, net of statutory payments. Tax exempt 13th month pay and other bonuses Determine the tax due of Jacqueline Cruz based on the following possible tax status of Jacqueline: a. Jacqueline is single with no dependent. P 30,000. XATION b. Jacqueline is single with one qualified dependent. C. Jacqueline is married with one qualified dependent. d. Jacqueline is married with three qualified dependents. e. Jacqueline is married with five dependents.
I. OBJECTIVES: 1. Compute the gross taxable income and tax due II. TOPIC: INCOME AND BUSINESS TAXATION III. DIRECTION: A.Compute the gross taxable income 1. Jacqueline Cruz generated annual compensation income of P 455,000, net of statutory payments. Tax exempt 13th month pay and other bonuses Determine the tax due of Jacqueline Cruz based on the following possible tax status of Jacqueline: a. Jacqueline is single with no dependent. P 30,000. XATION b. Jacqueline is single with one qualified dependent. C. Jacqueline is married with one qualified dependent. d. Jacqueline is married with three qualified dependents. e. Jacqueline is married with five dependents.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Direction: compute the gross taxable income (please do letter d and e)
Transcribed Image Text:I.
OBJECTIVES:
1. Compute the gross taxable income and tax due
II.
TOPIC: INCOME AND BUSINESS TAXATION
III. DIRECTION: A.Compute the gross taxable income
1. Jacqueline Cruz generated annual compensation income of P 455,000, net of
statutory payments. Tax exempt 13th month pay and other bonuses
Determine the tax due of Jacqueline Cruz based on the following possible tax status
of Jacqueline:
a. Jacqueline is single with no dependent.
P 30,000.
XATION
b. Jacqueline is single with one qualified dependent.
C. Jacqueline is married with one qualified dependent.
d. Jacqueline is married with three qualified dependents.
e. Jacqueline is married with five dependents.
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