The following relates to thecompensation income of Juana in2021: *P2,400,000150,000CompensationContributions to SSS, Philhealth, PAG-IBIG (where themandatory amount is P125,000)Withholding tax on compensation190,000How much is the total exclusion from gross income?а. Р125,000b. P150,000с. Р315,000O d. P340,000 Which is subject to income tax? *Gain on sale of 6-year bondGain on sale of shares in mutual fundInterest income on long-term bonds with amaturity period exceeding five yearsInterest income on long-term deposits byindividual taxpayers.

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The following relates to the compensation income of Juana in 2021: *

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 relates to the
compensation income of Juana in
2021: *
P2,400,000
150,000
Compensation
Contributions to SSS, Philhealth, PAG-IBIG (where the
mandatory amount is P125,000)
Withholding tax on compensation
190,000
How much is the total exclusion from gross income?
а. Р125,000
b. P150,000
с. Р315,000
O d. P340,000

Which is subject to income tax? *
Gain on sale of 6-year bond
Gain on sale of shares in mutual fund
Interest income on long-term bonds with a
maturity period exceeding five years
Interest income on long-term deposits by
individual taxpayers.

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