Alex ea
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Alex earns income from both employment and business. He earned P350,000 taxable compensation, excluding P90,000 exempt compensation, and a net loss in his business in the amount of P125,000. Compute the taxable income of Alex:
a. P135,000
b. P225,000
c. P260,000
d. P350,000
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