Mr. Uno had the following records of his horse races in the current month of 20X1: Туpe of Cost of Horse Gross winnings winnings Winnings Trifecta P90,000 P40,000 Ordinary 250,000 50,000 C Double 50,000 10,000 D Ordinary 175,000 25,000 How much is the total documentary stamp tax?

Mr. Uno had the following records of his horse races in the current month of 20X1: Туpe of Cost of Horse Gross winnings winnings Winnings Trifecta P90,000 P40,000 Ordinary 250,000 50,000 C Double 50,000 10,000 D Ordinary 175,000 25,000 How much is the total documentary stamp tax?

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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Question

Mr. Uno had the following records of his horse races in the current month of 20X1:
Туpe of
Cost of
Horse
Gross winnings
winnings
Winnings
Trifecta
P90,000
P40,000
Ordinary
250,000
50,000
C
Double
50,000
10,000
D
Ordinary
175,000
25,000
How much is the total documentary stamp tax?

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