alex leases a building to a client. During the year, he received the following remittance from the lessee: Rental, net of 5% creditable withholding tax - 2,000,000 Real property tax of the leased building - 60,000 Reimbursement for utilities used by the lessee paid by alex - 200,000 How much will be included in his gross income subject to regular tax?
alex leases a building to a client. During the year, he received the following remittance from the lessee: Rental, net of 5% creditable withholding tax - 2,000,000 Real property tax of the leased building - 60,000 Reimbursement for utilities used by the lessee paid by alex - 200,000 How much will be included in his gross income subject to regular tax?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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alex leases a building to a client. During the year, he received the following
remittance from the lessee:
Rental, net of 5% creditable withholding tax - 2,000,000
Real property tax of the leased building - 60,000
Reimbursement for utilities used by the lessee paid by alex - 200,000
How much will be included in his gross income subject to regular tax?
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