In September 30, 2019 Elle sold an idle land located in Canada for P6,000,000. The land was previously purchased by Elle at P3,000,000 and had an appraised value of P8,000,000 and zonal value of P7,000,000. The property had a fair value of P6,000,000 in provincial assessor's office and an assessed value of P2,400,000. Required 1: Compute for the capital gains tax
In September 30, 2019 Elle sold an idle land located in Canada for P6,000,000. The land was previously purchased by Elle at P3,000,000 and had an appraised value of P8,000,000 and zonal value of P7,000,000. The property had a fair value of P6,000,000 in provincial assessor's office and an assessed value of P2,400,000. Required 1: Compute for the capital gains tax
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Short Answer
In September 30, 2019 Elle sold
an idle land located in Canada for
P6,000,000. The land was previously
purchased by Elle at P3,000,000 and
had an appraised value of P8,000,000
and zonal value of P7,000,000.
The property had a fair value of
P6,000,000 in provincial assessor's
office and an assessed value of
P2,400,000.
Required 1: Compute for the capital
gains tax
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