A, B and C are solidary debtors for the amount of P45,000 from F. Mr. B has already paid P20,000 to F. How much can F further collect from B? O P5,000 O None. It has already exceeded the share of B. O P25,000 Another P20,000
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How much can F further collect from B?
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- A, B and C are solidary debtors of W and Y, solidary creditors for P 12,000 where the share of the debtors in the obligation is 2:3:5 while the share of the creditors is 1:2. If B is a minor, which of the following is correct? a. W can collect from C P8,400 b. Y can collect from C P8,000 c. W or Y can collect from C P12,000 d. The insolvency of A will be shouldered by B and C in proportion to their respective obligationsA, B and C are solidary debtors of W and Y, joint creditors for P 12,000 where the share of the debtors in the obligation is 2:3:5 while the share of the creditors is 1:2. If A is insolvent, which of the following is correct? a. W or Y can collect from B and C P12,000 b. Y can collect from either B or C P8,000 c. Y can collect from C P6,400 d. W can collect from B P3,200A, B and C borrowed P36,000 from X. the debtors signed a promissory note on January 10, 2000, promising to pay the creditor jointly and severally on or before July 10, 2000. How much can X collect from C? P18,000 P6,000 P12,000 P36,000
- 13. In 2022, Mr. Sun Ho was charged interest expense on a business related loan in the amount of PHP 60,000. His interest income on bank account with BPI is PHP 720. How much is the deductible interest expense? a. None b. PHP 59,856 c. PHP 144 d. PHP 60,000A, B and C are solidary debtors to X and Y (solidary creditors) in the amount of PhP600,000.00. 1. How much is the liability of each solidary debtor to each of the solidary creditor? Explain your answer. 2. Assuming solidary debtor A paid solidary creditor X, what is the effect on the obligation? What is the right acquired by solidary debtor A after complying with the obligation? On the other hand, what is the obligation of solidary creditor X to the other creditor? EXPLAIN YOUR ANSWERS.Bad and doubtful debts for Manja Enterprise is RM10,000. The amount consists of the general provision of trade debt of RM7.000 and a loan to a customer which is written off of RM3.000. How much amount is allowed in tax computation?
- 27. Gis a cash basis consultant. His balance sheet at the end of the year shows receivables of $100 and accounts payable for utilities of $30. a) What is G's basis in the receivables? b) If G transfers the receivables to a new corporation in exchange for 100% of the stock and the corporation assumes the liabilities is G taxed on the transfer?Problem: A, B and C are solidary debtors to X and Y (solidary creditors) in the amount of PhP600,000.00. 1. How much is the liability of each solidary debtor to each of the solidary creditor? Explain your answer. 2. Assuming solidary debtor A paid solidary creditor X, what is the effect on the obligation? What is the right acquired by solidary debtor A after complying with the obligation? On the other hand, what is the obligation of solidary creditor X to the other creditor? EXPLAIN YOUR ANSWERS. Problem: MM (debtor) binds himself to deliver to PP (creditor) a brand new 60 inch. Samsung t.v. set, or a Macbook Pro laptop, or a two-door Samsung refrigerator. Prior to the date of delivery, MM's Macbook Pro laptop was stolen. 1. What is the effect of the loss of the laptop to the obligation of MM? Explain your answer. 2. What if the Macbook Pro laptop was lost due to the fault of MM, what is the effect on his obligation to PP? Explain your answer.Problem: A, B and C are solidary debtors to X and Y (solidary creditors) in the amount of PhP600,000.00. 1. How much is the liability of each solidary debtor to each of the solidary creditor? Explain your answer. 2. Assuming solidary debtor A paid solidary creditor X, what is the effect on the obligation? What is the right acquired by solidary debtor A after complying with the obligation? On the other hand, what is the obligation of solidary creditor X to the other creditor?
- Mr. Zang is a 5-6 lender. During the year, he granted loans totaling P 2M and collected P400,000 in interest. He also earned P 8,000 in temporary investments in domestic bonds plus additional P 6,000 from bank deposit substitutes. Direct cost of lending was P100,000. What is the total amount to be reported in gross income subject to regular tax?* a. 406,000 b. 300,000 c. 414,000 d. 308,000How much claim against the insolvent person is deductible from the gross estate?Amount of claim against the debtor, P500,000Total assets of the debtor, P5,000,000Total liabilities of the debtor, P8,000,000Gis a cash basis consultant.His balance sheet at the end of the year shows receivables of $100 and accounts payable for utilities of $30. What is G's basis in the receivables? If G transfers the receivables to a new corporation in exchange for 100% of the stock and the corporation assumes the liabilities is G taxed on the transfer?