Zhie reports the following business transactions: Gross sales P840,000 Sales discounts 25,000 Cost of sales 250,000 Operating expenses 190,000 Interest income on bank deposits- BPI 10,000 Zhie also earned a total compensation of P410.020, from a part-time employment of which, P105,000 is excluded from taxation. Compute the taxable income of zhie which is subject to regular income
Zhie reports the following business transactions: Gross sales P840,000 Sales discounts 25,000 Cost of sales 250,000 Operating expenses 190,000 Interest income on bank deposits- BPI 10,000 Zhie also earned a total compensation of P410.020, from a part-time employment of which, P105,000 is excluded from taxation. Compute the taxable income of zhie which is subject to regular income
Chapter14: Taxes On The Financial Statements
Section: Chapter Questions
Problem 27P
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Zhie reports the following business transactions:
Gross sales P840,000
Sales discounts 25,000
Cost of sales 250,000
Operating expenses 190,000
Interest income on bank deposits- BPI 10,000
Zhie also earned a total compensation of P410.020, from a part-time employment of which, P105,000 is excluded from taxation .
Compute the taxable income of zhie which is subject to regular income tax:
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