Timi, a CPA with a monthly salary of Php. 30,000.00, received a Honda Civic from his employer for successfully representing the company at the BIR on tax compromise. The car was acquired three years ago for Php. 800,000. At present, it has accumulated depreciation of Php. 400,000. Its present FMV is Php. 200,000.00. Compute the gross compensation income of Timi

Timi, a CPA with a monthly salary of Php. 30,000.00, received a Honda Civic from his employer for successfully representing the company at the BIR on tax compromise. The car was acquired three years ago for Php. 800,000. At present, it has accumulated depreciation of Php. 400,000. Its present FMV is Php. 200,000.00. Compute the gross compensation income of Timi

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter6: Deductions And Losses: In General

Section: Chapter Questions

Problem 5BCRQ

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