Philippine Bank of Communication has the following records of its trading transactions. January P 100,000 February (150,000) March 100,000 April 80,000 May (50,000) June 90,000 How much trading gain subject to percentage tax should be reported by the Bank for the month of June? P 90,000 P 70,000 P 40,000 P 170,000

Philippine Bank of Communication has the following records of its trading transactions. January P 100,000 February (150,000) March 100,000 April 80,000 May (50,000) June 90,000 How much trading gain subject to percentage tax should be reported by the Bank for the month of June? P 90,000 P 70,000 P 40,000 P 170,000

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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