Lisa Manoban, operates a pet shop at the same time, offers interior design services to her clients. The following data were provided by Lisa for the 2018 taxable year. Pet Shop GROSS SALES 1,800,000 COST OF SALES 600,000 OPERATING EXPENSES 200,000 Interior design services GROSS SALES 1,150,000 COST OF SALES 120,000 OPERATING EXPENSES 80,000 How much is her income tax provided she opted to use the 8% Gross income tax?
Lisa Manoban, operates a pet shop at the same time, offers interior design services to her clients. The following data were provided by Lisa for the 2018 taxable year. Pet Shop GROSS SALES 1,800,000 COST OF SALES 600,000 OPERATING EXPENSES 200,000 Interior design services GROSS SALES 1,150,000 COST OF SALES 120,000 OPERATING EXPENSES 80,000 How much is her income tax provided she opted to use the 8% Gross income tax?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Lisa Manoban, operates a pet shop at the same time, offers interior design services to her clients. The following data were provided by Lisa for the 2018 taxable year.
Pet Shop
GROSS SALES | 1,800,000 |
COST OF SALES | 600,000 |
OPERATING EXPENSES | 200,000 |
Interior design services
GROSS SALES | 1,150,000 |
COST OF SALES | 120,000 |
OPERATING EXPENSES | 80,000 |
How much is her income tax provided she opted to use the 8% Gross income tax?
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