Sour Corporation, a domestic corporation primarily engaged in the sale of strawberry ice cream, issued 15,000 shares to Olivia, a non-resident citizen. The shares have a par value of P25 and were issued to Olivia by fully paying the market value of P28 per share. At a time when the market value is P45, Olivia sold half of her shareholdings directly to Sabrina, a resident citizen. How much is the documentary stamp tax due on the sale of shares from Olivia to Sabrina? P2,250 P0 P5,062 P3,150
Sour Corporation, a domestic corporation primarily engaged in the sale of strawberry ice cream, issued 15,000 shares to Olivia, a non-resident citizen. The shares have a par value of P25 and were issued to Olivia by fully paying the market value of P28 per share. At a time when the market value is P45, Olivia sold half of her shareholdings directly to Sabrina, a resident citizen. How much is the documentary stamp tax due on the sale of shares from Olivia to Sabrina? P2,250 P0 P5,062 P3,150
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Sour Corporation, a domestic corporation primarily engaged in the sale of strawberry ice cream, issued 15,000 shares to Olivia, a non-resident citizen. The shares have a par value of P25 and were issued to Olivia by fully paying the market value of P28 per share. At a time when the market value is P45, Olivia sold half of her shareholdings directly to Sabrina, a resident citizen. How much is the documentary stamp tax due on the sale of shares from Olivia to Sabrina?
P2,250
P0
P5,062
P3,150
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