Compute for the tax due in each of the following cases. Show your computation and highlight your final answer.Please answer items 1 to 5. Thank you! Computations (Tax Due)Instruction: Compute for the tax dueeach of the following cases. Show your computation and highlight yourfinal answer.Tax TableNet Taxable IncomeTax RateOverBut not over250,0000%250,000400,00020% of excess over 250,000400,000800,00030,000 + 25% of excess over 400,000800,0002,000,000130,000 + 30% of excess over 800,0002,000,0008,000,000490,000 + 32% of excess over 2,000,0008,000,0002,410,000+35% of excess over 8,000,0001. How much is the tax due on a taxable income of P150,000?2. How much is the tax due on a taxable income of P90,000?3. Ms. Yap, single with no qualified dependent, earn compensation income ofP330,000 during a taxable year. How much Ms. Yap tax due?4. Mrs. Cortez, a mother of two qualified dependents, earn compensation income ofP300,000 during the year. Mr. Cortez is also earning income and waives his right overthe additional exemptions. How much Mrs. Cortez tax due?5. Mr. Eman, a father with one qualified dependent, earns the following compensationincome in a taxable year.Basic salaryP288,000Uniform AllowanceP7,000Laundry AllowanceP2,40013th Month PayP24,000How much is Mr. Eman's tax due?

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Business

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Compute for the tax due in each of the following cases. Show your computation and highlight your final answe

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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