What is the taxable income pamplona

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Reference no: EM132772427

Multiple Choice - Problems

1. Mrs. Sanchez Mira had a gross taxable compensation income of P400,000 earned an additional P2,000 by investing her money in time deposits plan interest income from lending money to a friend. Compute her taxable income
a. P303,000 c. P300,000
b. P302,000 d. P403,000

2. Ms. Claveria had a business net income of P300,000, She also earned commission from selling cellular cards and P12,000 dividends from a corporation. Compute her taxable income.
a. P300,000 c. P305,000
b. P312,000 d. P317,000

3. Mr. Pamplona earned total gross receipts of P800,000 and paid p300,000 expenses in his accounting practice. During the same year, he also earned income of P60,000 net gain from the sale of domestic stocks directly to a buyer income disposed a vacant lot at a net gain of P140,000. What is the taxable income Pamplona?
a. P 400,000 c. P 500,000
b. P 460,000 d. P 600,000

4. Mr. Monreal earned a gross compensation income of P200,000, exclusive P20,000 non-taxable compensation income, and gross business income P500,000 before expenses of P200,000. He also earned book royalties of PiM and P8,000 interest income from clients' promissory notes. Mr. Monreal prsonal expenses of P170,000 during the year. What is Mr. Monreal's taxable compensation income?
P 30,000 c. P 200,000
P 180,000 d. P 220,000

Reference no: EM132772427

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