From the data below, how much is the total passive income?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:From the data below, how much is the total passive income?
Description
Interest income on savings deposits in local banks
2020
Р3,000
Income from sale of lot held for investment, located IN
320,000
Compensation income
Income from legitimate business
Income from illegal business
Income from sale of machine not used in business
200,000
400,000
800,000
40,000
а. Р323,000
b. P43,000
с. Р3,000
d. Answer not given
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