If Lorna Da Ganda is a resident citizen and is earning compensation income and business income for 2018 with the following details: Compensation income of Php1,400,000 and Gross sales of Php2.800,000 and Cost of Sales of Php1,200,000 and Operating expenses of Php650,000 and Withholding tax on compensation income of Php310,000 and other creditable withholding taxes of Php80.000; how much is the income tax due and payable of Lorna Da Ganda for the year 2018? * Php184,000 O Php 212,000 Php 95,000 Php144,000

If Lorna Da Ganda is a resident citizen and is earning compensation income and business income for 2018 with the following details: Compensation income of Php1,400,000 and Gross sales of Php2.800,000 and Cost of Sales of Php1,200,000 and Operating expenses of Php650,000 and Withholding tax on compensation income of Php310,000 and other creditable withholding taxes of Php80.000; how much is the income tax due and payable of Lorna Da Ganda for the year 2018? * Php184,000 O Php 212,000 Php 95,000 Php144,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Question

If Lorna Da Ganda is a resident citizen and is earning compensation income
and business income for 2018 with the following details: Compensation
income of Php1,400,000 and Gross sales of Php2,800,000 and Cost of
Sales of Php1,200,000 and Operating expenses of Php650,000 and
Withholding tax on compensation income of Php310,000 and other
creditable withholding taxes of Php80.000; how much is the income tax
due and payable of Lorna Da Ganda for the year 2018? *
Php184,000
O Php 212,000
Php 95,000
Php144,000

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