A mixed income earner realized P920,000 from compensation, P2,000,000 in sales, P100,000 other income subject to tax and incurred P480,000 in expenses.   A. What is the total compensation income subject to income tax? B. What is the income tax due from compensation? C. What is the total income from Business subject to income tax?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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A mixed income earner realized P920,000 from compensation, P2,000,000 in sales, P100,000 other income subject to tax and incurred P480,000 in expenses.

 

A. What is the total compensation income subject to income tax?

B. What is the income tax due from compensation?

C. What is the total income from Business subject to income tax?

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