Jose is a resident Citizen Taxable period 2021 Gross Sales php 2,500,000 Other operating income 130,000 non operating income 160,000 cost of sales 1,000,000 operating expenses 500,000 non operating expenses 150,000 What is the SPECIAL ITEMIZED deductions to be claimed against gross income. Show computation 160,000 235,000 310,000 385,000
Jose is a resident Citizen Taxable period 2021 Gross Sales php 2,500,000 Other operating income 130,000 non operating income 160,000 cost of sales 1,000,000 operating expenses 500,000 non operating expenses 150,000 What is the SPECIAL ITEMIZED deductions to be claimed against gross income. Show computation 160,000 235,000 310,000 385,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Jose is a resident Citizen
Taxable period 2021 | |
Gross Sales | php 2,500,000 |
Other operating income | 130,000 |
non operating income | 160,000 |
cost of sales | 1,000,000 |
operating expenses | 500,000 |
non operating expenses | 150,000 |
What is the SPECIAL ITEMIZED deductions to be claimed against gross income. Show computation
- 160,000
- 235,000
- 310,000
- 385,000
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