1) Mrs. Sanchez Mira had a gross taxable compensation income of P400,000.

She also earned an additional P2,000 by investing her money in time deposits plus P3,000 interest income from lendingmoney to a friend. Compute her taxable income.

a. P303,000 c. P300,000

b. P302,000 d. P403,000

2) Mr. Pamplona earned a total gross receipts of P800,000 and paidP300,000 in expenses in his accounting practice. During the sameyear, he also earned a total of P60,000 net gain from the sale ofdomestic stocks directly to a buyer. He also disposed a vacant lotat a net gain of P140,000. What is the taxable income of Mr.Pamplona?

a.P400,000 c. P500,000

b. P460,000 d. P600,000

3) Mr. Monreal earned a gross compensation income of P200,000,exclusive of P20,000 non-taxable compensation income, and grossbusiness income of P500,000 before expenses of P200,000. He alsoearned book royalties of P10,000 and P8,000 interest income fromclient

s' promissory notes. Mr. Monreal has personal expenses ofP170,000 during the year. What is Mr. Monreal's taxable compensation

income?

a. P30,000 c. P200,000

b.P180,000 d. P220,000

4) What is Mr. Monreal's net income from business?

a.P300,000 c. P310,000

b. P308,000 d. P518,000

5) What is Mr. Monreal's taxable income?

a.P508,000 c. P558,000

b.P450,000 d. P468,000

6) Mr. Bangul earned a compensation income of P120,000 and net incomefrom business of P300,000. He also earned P8,000 prizes from adancing competition and P45,000 royalties from his musicalcomposition. Mr. Bangul has P150,000 personal expenses. Compute thetaxable income.

a. P473,000 c. P428,000

b.P465,000 d. P420,000

7) Mr. Gudani with a P75,000 personal exemption, had the following data

Philippines Abroad

Grossincome

fromsales P4,000,000P6,000,000

Interestincome

ondeposits 40,000 80,000

LessDeductions2,000,000 3,600,000

ComputethetaxableincomeifMr.Gudaniisaresidentcitizen.

a. P4,480,000c.P2,040,000

b.P4,520,000d.P2,000,000

8)

Intheimmediatelyprecedingproblem,computethetaxable

incomeifMr.Gudaniisanon-residentcitizen.

a.P4,520,000c.P2,040,000

b.P4,480,000d.P2,000,000