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Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:10. In the immediately preceding problem, compute the taxable income if Mr. Jr
9. Mr. Jordan, with a P75,000 personal exemption, had the following data in 2021
Abroad
P 4,000,000 P 6,000,000
80,000
3,600,000
Philippines
Gross income from sales
Interest income on deposits
Less: Deductions
40,000
2,000,000
Compute the taxable income if Mr. Jordan is a resident citizen.
a P4,480,000
b. P4,520,000
c.P 2,040,000
d. P 2,000,000
is a non-resident citizen.
a. P4,520,000
b. P4,480,000
c.P 2,040,000
d. P 2,000,000
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