In 2018, a domestic corporation paid for the monthly rental of a residential house of its branch manager, Mr. Juan dela Cruz, amounting to P156,000. Assume there is no transfer of ownership, what is the total amount of deductible expense by the employer from its gross income? a. Answer not given b. P120,000 c. P198,000 d. P156,000 e. P42,000

In 2018, a domestic corporation paid for the monthly rental of a residential house of its branch manager, Mr. Juan dela Cruz, amounting to P156,000. Assume there is no transfer of ownership, what is the total amount of deductible expense by the employer from its gross income? a. Answer not given b. P120,000 c. P198,000 d. P156,000 e. P42,000

Individual Income Taxes

43rd Edition

ISBN:9780357109731

Author:Hoffman

Publisher:Hoffman

Chapter18: Accounting Periods And Methods

Section: Chapter Questions

Problem 30CE: LO.2 In 2019, Chaya Corporation, an accrual basis, calendar year taxpayer, provided services to...

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