ident citizen provid ar:
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Transcribed Image Text:How much is the total income tax of Ana assuming she opted to be taxed
at 8%?
Ana, a self-employed resident citizen provided the following
data for 2018 taxable year:
Sales
P2,800,000
1,125,000
650,000
Cost of sales
Business expenses
Interest income from peso bank deposit
Interest income from deposit under FCDS
80,000
120,000
Gain on sale of land in the Phils. held as capital asset
500,000
with cost P1.5M when zonal is P1.2M
P321,500
O P342,500
O P351,500
O P358,000
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