Answered: Within without Business Income…

Within without Business Income 400,000.00 200,000.00 Professional Fees 200,000.00 100,000.00 Rent income 600,000.00 200,000.00 Interest income 60,000.00 40,000.00

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

Y received the following items of income during the taxable year: If Y is a resident alien, how much is the total income subject to regular income tax? (Within means earned within the Philippines, without means earned outside of the Philippines).

a. P1,800,000

b. P1,740,000

c. P1,700,000

d. P1,200,000

Within
without
Business Income
400,000.00 200,000.00
Professional Fees
200,000.00
100,000.00
Rent income
600,000.00
200,000.00
Interest income
60,000.00
40,000.00

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