Permit Fees Import P200,000 Percentage Tax 300,000 Import Duties 150,000 Motor Vehicle Users' Charge 50,000 Import Processing Fees 100,000 Sales Discount 50,000 Dividend Income 200,000 Documentary Stamp Tax

Permit Fees Import P200,000 Percentage Tax 300,000 Import Duties 150,000 Motor Vehicle Users' Charge 50,000 Import Processing Fees 100,000 Sales Discount 50,000 Dividend Income 200,000 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

The following information were provided by XYZ regarding its collection:
Permit Fees Import P200,000
Percentage Tax 300,000
Import Duties 150,000
Motor Vehicle Users' Charge 50,000
Import Processing Fees 100,000
Sales Discount 50,000
Dividend Income 200,000
Documentary Stamp Tax 75,000
Seminar/Training Fee 200,000

1. How much is the total collection pertaining to Service and Business Income?

2. How much is the total collection pertaining to Tax Revenue?

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