Irene sold his stocks in Seulgi Corporation (domestic corporation) to a foreign investor at a gain of P800,000. The foreign investor is a corporation abroad which is not registered as doing business in the Philippines. How much of Irene’s income is considered as coming from Philippine source?

Irene sold his stocks in Seulgi Corporation (domestic corporation) to a foreign investor at a gain of P800,000. The foreign investor is a corporation abroad which is not registered as doing business in the Philippines. How much of Irene’s income is considered as coming from Philippine source?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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How much of Irene’s income is considered as coming from Philippine source?

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