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

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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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

  1. 160,000
  2. 235,000
  3. 310,000
  4. 385,000
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