Reference no: EM132892527

Questions -

Q1) The investor sold his investment in 20,000 shares, P100 par inside stock exchange and collected with .006 transaction tax on the amount of sale euivalent to P12,240. How much was the selling price per share of the investment sold?

Q2) The investor sold his investment in 50,000 shares, P100 par inside stock exchange at P105 and collected with .006 transaction tax. How much is the final income tax on the amount of capital gain at cost of investment of P102/share?

Q3) The official residence of a resident citizen with carrying cost of P5,000,000 was sold for P10M when the zonal value of same property was P12M. If the proceeds were all used for the acquisition of his new family home within the 18 month period, how much is his capital gain tax exemption?

Q4) The official residence of a resident citizen with carrying cost of P5,000,000 was sold for P10M when the zonal value of same property was P12M. If P9,000,000 of the proceeds were used for the acquisition of his new family home within the 18 month period, how much is his capital gain tax exemption?

Q5) The official residence of a resident citizen with carrying cost of P5,000,000 was sold for P10M when the zonal value of same property was P15M. If all the proceeds were used plus P2M additIonal cash for the acquisition of his new family home within the 18 month period, how much is his capital gain tax liablity?

Q6) The idle real property of the taxpayer who is not engaged in business was sold when its zonal value was P60M. The carrying cost of the property at date of sale was P2M. The term of sale as follows:

Down payment in year of sale P 10M

Mortgage assumed by buyer 4M

Balance payable at P 9M per year for 4 years starting year 2 of sale.

How much was the selling price for the property sold?

Q7) The idle real property of the taxpayer who is not engaged in business was sold when its zonal value was P60M. The carrying cost of the property at date of sale was P2M. The term of sale as follows:

Down payment in year of sale P 10M

Mortgage assumed by buyer 4M

Balance payable at P 9M per year for 4 years starting year 2 of sale.

How much was the initial payment in year of sale?

Q8) The idle real property of the taxpayer who is not engaged in business was sold when its zonal value was P60M. The carrying cost of the property at date of sale was P2M. The term of sales as follows:

Down payment in year of sale P 10M

Mortgage assumed by buyer 4M

Balance payable at P 9M per year for 4 years starting year 2 of sale.

How much was the contract price?

Q9) The idle real property of the taxpayer who is not engaged in business was sold when its zonal value was P60M. The carrying cost of the property at date of sale was P2M. The term of sales as follows:

Down payment in year of sale P 10M

Mortgage assumed by buyer 4M

Balance payable at P 9M per year for 4 years starting year 2 of sale.

How much was the total capital gain tax?

Q10) The idle real property of the taxpayer who is not engaged in business was sold when its zonal value was P60M. The carrying cost of the property at date of sale was P2M. The term of sales as follows:

Down payment in year of sale P 10M

Mortgage assumed by buyer 4M

Balance payable at P 9M per year for 4 years starting year 2 of sale.

How much was the first installment payment of the capital gain tax in the year of sale?