Total income subject to Philippine income tax assuming Jasmine is a resident citizen Jasmine has the following items of income Business income Professional fees Compensation income 400,000 Philippines Abroad P200,000 100,000 P100,000 50,000 Rent income Interest income 300,000 30,000 200,000 40,000

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Total income subject to
Philippine income tax
assuming Jasmine is a resident
citizen
Jasmine has the following items of income
Philippines Abroad
P100,000
50,000
Business income
Professional fees
Compensation income 400,000
Rent income
Interest income
P200,000
100,000
300,000
30,000
200,000
40,000
Your answer
Total income subject to
Philippine income tax
assuming Jasmine is a
domestic corporation
Jasmine has the following items of income
Philippines Abroad
P100,000
50,000
Business income
Professional fees
Compensation income 400,000
Rent income
Interest income
P200,000
100,000
300,000
30,000
200,000
40,000
Your answer
Transcribed Image Text:Total income subject to Philippine income tax assuming Jasmine is a resident citizen Jasmine has the following items of income Philippines Abroad P100,000 50,000 Business income Professional fees Compensation income 400,000 Rent income Interest income P200,000 100,000 300,000 30,000 200,000 40,000 Your answer Total income subject to Philippine income tax assuming Jasmine is a domestic corporation Jasmine has the following items of income Philippines Abroad P100,000 50,000 Business income Professional fees Compensation income 400,000 Rent income Interest income P200,000 100,000 300,000 30,000 200,000 40,000 Your answer
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