Determine the following. Use the tax table below.ТАХ ТАBLEIf taxable income:Tax due is:I 0%Not over P250,000Over P250,000 but not over P400,000Over P400,000 but not over P800,000Over P800,000 but not over P2,000,000Over P2,000,000 but not over P8,000,00020% of the excess over P250,000P30,000 + 25% of the excess over #400,000P130,000 + 30% of the excess over P800,000$490,000 +32% of the excess over P2,000,000P2,410,000 +P8,000,000Over P8,000,00035% of theexcessover1. How much is the tax due on taxable income of P150,000?2. How much is the tax due on the taxable income of 290,000?3. Ms. Z, single earns compensation income of P3,230,000 during a taxable year. How muchis the tax due of Ms.Z?

Since, taxable income is below $250000, tax due = 150000 * 0% = 0

DelemIine the Tollowing. Use the lax table below. ТАX ТАBLE If taxable income: Tax due is: 3 0% Not over P250,000 Over P250,000 but not over P400,000 Over P400,000 but not over P800,000 Over P800,000 but not over P2,000,000 Over P2,000,000 but not over P8,000,000 Over P8,000,000 3 20% of the excess over #250,000 * P30,000 + 25% of the excess over P400,000 * P130,000 + 30% of the excess over P800,000 $490,000 +32% of the excess over P2,000,000 2,410,000 + 35% of the excess over P8,000,000 1. How much is the tax due on taxable income of P150,000? ..... 2. How much is the tax due on the taxable income of P290,000? 3. Ms. Z, single earns compensation income of P3,230,000 during a taxable year. How much is the tax due of Ms.Z?

DelemIine the Tollowing. Use the lax table below. ТАX ТАBLE If taxable income: Tax due is: 3 0% Not over P250,000 Over P250,000 but not over P400,000 Over P400,000 but not over P800,000 Over P800,000 but not over P2,000,000 Over P2,000,000 but not over P8,000,000 Over P8,000,000 3 20% of the excess over #250,000 * P30,000 + 25% of the excess over P400,000 * P130,000 + 30% of the excess over P800,000 $490,000 +32% of the excess over P2,000,000 2,410,000 + 35% of the excess over P8,000,000 1. How much is the tax due on taxable income of P150,000? ..... 2. How much is the tax due on the taxable income of P290,000? 3. Ms. Z, single earns compensation income of P3,230,000 during a taxable year. How much is the tax due of Ms.Z?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

ROUP 2: sodiaschow slicerbot been ad bloco il todos) letovarlad su OBLEMS 2.1 2.1 1. Indicate whether each of the items listed below would be included (I) in or excluded (E) from gross income for the 2021 tax year. a. Welfare payments b. Commissions RIFOITD2 to nourt woll |||||||| Piruvor anolaulox3 ban Questions and Proble orli € 1697 6 002,02 c. Hobby income 122 d. Scholarships for room and board avea ins e. $300 set of golf clubs, an employee award for length of service f. Severance pay j. Gifts k. Tips and gratuities noorain id yd g. Ordinary dividend of $50gms bash. Accident insurance proceeds received for personal bodily injury i. Inheritances 20 2. Jane is a roofing contractor. Jane's friend needed a new roof but did not have the cash to pay. Jane's friend instead paid with a used truck that Jane could use in her roofing
Pleas calculate the AVERAGE and MARGINAL TAX based on the tax bracket provided below. (Hint: every box in the table may NOT be used.) $0 $1,001 $3,001 Tax Bracket $10,001 $20,001 $40,001 $1,000 $3,000 $10,000 $20,000 $40,000 & Above Average Tax:__`17.729% Marginal Tax:__`25¹% Tax 5% 10% 15% 25% 30% 45% $ $ Taxable Income Amount Taxed type your ansv type your ansv type your ansv = type your ansv $16,500 $ $ $ $ Actual Tax Paid type your answe type your answe type your answe type your answe type your answe Amount Remaining $ $ $ $ type your answe type your answe type your answe type your answe
Please do not give solution in image format thanku
suppose that the first $ 5000 income earned is not taxed at all, the next $ 10000 earned is taxed at the rate of 15%, any further income is taxed at the rate of 30%. Construct Marginal Tax Rate as a function of income, graph it. Let y denote income. show that the function is discontinuous at y = 5000 and y = 15000
5
Please help. Thanks
For income tax purposes, what is the amount of gross income given the following amounts? Gross sales 4,000,000.00 Sales discounts, returns and allowances 100,000.00 Cost of sales 1,500,000.00 Itemized deductions 800,000.00 Given the amount, how much is the minimum corporate income tax? Group of answer choices P78,000.00 P34,000.00 P32,000.00 P48,000.00
Fill in the missing numbers for the following income statement. (Do not round intermediate calculations.) Sales Costs Depreciation EBIT Taxes (24%) Net income b. b. Calculate the OCF. (Do not round intermediate calculations.) c. What is the depreciation tax shield? (Do not round intermediate calculations.) C. $ OCF 662,600 424,300 100,700 Depreciation tax shield
Please do not Give image format
not use excel
Please help with total tax bill. and plz typing solution sent me Thank you I Solution sent me very fast type. I give u thum
Please do stepwise and correct please ill like..