Sir please help me urgently Accounting1. Mr. Cruz is a minimum wage earner and apart-time real estate agent for a real estatebroker. In addition to the statutory minimumwage of P180,000, he likewise earned P100,000as commission from his real estate dealings forthe year 2019. If he opted to be taxed at 8%,how much would be his income tax?Group of answer choicesа. Р2,400b. POс. Р8,000d. P6,0002. A self-employed resident citizen taxpayer,who is married, has gross profit from sales ofgoods of P800,000, operating expenses ofP200,000, cost of goods sold of P300,000 andpersonal expenses amounting to P30,000. If thetaxpayer chooses to be taxed at 8%, his incometax will be:Group of answer choicesa. P44,000b. P24,000c. P68,000d. P64,0003. Mr. Santos received the following yearlybenefits from his employer, ABC Corporation:13th-month payP85,000Rice subsidy36,000Clothing allowance 10,000How much is the taxable 13th month pay andother benefits?Group of answer choicesa. POb. P131,000с. Р41,000d. P11,000

1. Mr. Cruz is a minimum wage earner and a part-time real estate agent for a real estate broker. In addition to the statutory minimum wage of P180,000, he likewise earned P100,000 as commission from his real estate dealings for the year 2019. If he opted to be taxed at 8%, how much would be his income tax? Group of answer choices a. P2,400 b. PO c. P8,000 d D6 0 0

1. Mr. Cruz is a minimum wage earner and a part-time real estate agent for a real estate broker. In addition to the statutory minimum wage of P180,000, he likewise earned P100,000 as commission from his real estate dealings for the year 2019. If he opted to be taxed at 8%, how much would be his income tax? Group of answer choices a. P2,400 b. PO c. P8,000 d D6 0 0

SWFT Individual Income Taxes

43rd Edition

ISBN:9780357391365

Author:YOUNG

Publisher:YOUNG

Chapter12: Alternative Minimum Tax

Section: Chapter Questions

Problem 24CE

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