Jennifer Lee earned P420,000 in architectural services. His total expenses are 35%. His net income is? a. P273,000 b. P147,000 c. P120,000 d. P320,000

SWFT Essntl Tax Individ/Bus Entities 2020
23rd Edition
ISBN:9780357391266
Author:Nellen
Publisher:Nellen
Chapter17: Business Tax Credits And The Alternative Minimum Tax
Section: Chapter Questions
Problem 4CE
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His net income is ?

Jennifer Lee earned P420,000 in architectural
services. His total expenses are 35%. His net
income is?
a. P273,000
b. P147,000
c. P120,000
d. P320,000
Transcribed Image Text:Jennifer Lee earned P420,000 in architectural services. His total expenses are 35%. His net income is? a. P273,000 b. P147,000 c. P120,000 d. P320,000
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