Problem 2AOptional Standard DeductionB. Had Ms. Aubrey signified her intention to be taxed at the 8% income tax rate, findfrom her work as a tour guide, cost of goods sold of P800,000, and operating expenses2018, she recorded gross sales in the amount of P1,750,000, gross receipts of P300,000opotional Standard DeductionA. If Ms. Camilla opted to avail of the OSD, what will be her income tax due for 2018?Ms. Camilla is the owner of a travel stuff shop and is also an in-demand tour guide. Inof P350,000.Ms Camilla opted to avail of the OSD, what will be her income tax due for 2018?dc Camilla signified in her 1st Quarter Income Tax Return her intention to be taxedat the 8% income tax rate. Compute for her 2018 income tax liability.Problem 2BOptional Standard DeductionMs. Aubrey is a proprietor of a musical instruments store. She also teaches pianolessons on the side. Her records for 2018 show the following:Gross Sales from Musical Instruments StoreGross Receipts as Piano TeacherCost of Goods SoldP2,300,000350,000950,000Operating Expenses450,000* Ms. Aubrey opted to avail of the OSD. Determine her income tax due for 2018.nad Ms. Aubrey signified her intention to be taxed at the 8% income tax rate, findthe 2018 income tax liability of Ms. Aubrey.

In lieu of the itemised deduction of ordinary and necessary expenses paid or incurred to calculate…

Problem 2A Optional Standard Deduction 2018, she recorded gross sales in the amount of P1,750,000, gross receipts of P300,000 from her work as a tour guide, cost of goods sold of P800,000, and operating expenses Ms. Camilla is the owner of a travel stuff shop and is also an in-demand tour guide. In of P350,000. Ms Camilla opted to avail of the OSD, what will be her income tax due for 2018? Ms Camilla signified in her 1“ Quarter Income Tax Return her intention to be taxed at the 8% income tax rate. Compute for her 2018 income tax liability. Problem 2B

Problem 2A Optional Standard Deduction 2018, she recorded gross sales in the amount of P1,750,000, gross receipts of P300,000 from her work as a tour guide, cost of goods sold of P800,000, and operating expenses Ms. Camilla is the owner of a travel stuff shop and is also an in-demand tour guide. In of P350,000. Ms Camilla opted to avail of the OSD, what will be her income tax due for 2018? Ms Camilla signified in her 1“ Quarter Income Tax Return her intention to be taxed at the 8% income tax rate. Compute for her 2018 income tax liability. Problem 2B

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter21: Partnerships

Section: Chapter Questions

Problem 47P

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