Gina, a real estate dealer sold a house and lot for P600,000 on November 20, 2018. The cost of the property is P450,000. Terms are (1) Down payment of P100,000 and (2) Balance: Payable monthly P50,000 beginning January 20, 2019. How much is the income subject to income tax in 2018? How much is the income subject to income tax in 2019?
Gina, a real estate dealer sold a house and lot for P600,000 on November 20, 2018. The cost of the property is P450,000. Terms are (1) Down payment of P100,000 and (2) Balance: Payable monthly P50,000 beginning January 20, 2019. How much is the income subject to income tax in 2018? How much is the income subject to income tax in 2019?
SWFT Essntl Tax Individ/Bus Entities 2020
23rd Edition
ISBN:9780357391266
Author:Nellen
Publisher:Nellen
Chapter5: Business Deductions
Section: Chapter Questions
Problem 1CE
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Gina, a real estate dealer sold a house and lot for P600,000 on November 20, 2018. The cost of the property is P450,000. Terms are (1) Down payment of P100,000 and (2) Balance: Payable monthly P50,000 beginning January 20, 2019.
How much is the income subject to income tax in 2018?
How much is the income subject to income tax in 2019?
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