Compute for the Income Tax for the below data: MRS.MR.Gross Sales of the Business P4,000,000Cost of Sales and expenses of the business 1,900,000Gross Receipts from professionP300,000 Cost and Expenses in the practice of profession120,000

For MR.. Gross Sales of the Business::P40,00,000 Cost of Sales and expenses of the…

Answered: Compute for the Income Tax for the…

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter13: Choice Of Business Entity—general Tax And Nontax Factors/formation

Section: Chapter Questions

Problem 46P

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	MRS.	MR.
Gross Sales of the Business		P4,000,000
Cost of Sales and expenses of the business		1,900,000
Gross Receipts from profession	P300,000
Cost and Expenses in the practice of profession	120,000

Compute for the Income Tax for the below data: MRS. MR. Gross Sales of the Business P4,000,000 Cost of Sales and expenses of the business 1,900,000 Gross Receipts from profession P300,000 Cost and Expenses in the practice of profession 120,000