Ana, a self-employed resident citizen provided the following data for 2018 taxable year: Sales P2,800,000 Cost of sales 1,125,000 650,000 80,000 120,000 Gain on sale of land in the Phils. held as capital asset Business expenses Interest income from peso bank deposit Interest income from deposit under FCDS with cost P1.5M when zonal is P1.2M 500,000

Ana, a self-employed resident citizen provided the following data for 2018 taxable year: Sales P2,800,000 Cost of sales 1,125,000 650,000 80,000 120,000 Gain on sale of land in the Phils. held as capital asset Business expenses Interest income from peso bank deposit Interest income from deposit under FCDS with cost P1.5M when zonal is P1.2M 500,000

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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