1. Takahashi Corporation, a domestic corporation and a retailer of goods has a gross sales of P300,000,000 with a total cost of P190,000,000 and allowable deductions of P50,000,000 for the calendar year 2022. Its total Assets of P200,000,000 as of December 31, 2021 per Audited Financial Statements includes the land costing P50,000,000 and the building of P30,000,000 in which the building is situated. How much is the income tax due in 2022? 2. Madam Q, a resident citizen, died on August 15, 2023. Details regarding her gross estate are presented below: Conjugal property P4,500,000 House, exclusive property of Madam Q 1,500,000 Other exclusive properties of Madam Q 1,200,000 Other Information: Actual funeral expenses incurred P250,000 Judicial expenses, incurred evenly for 12 months 480,000 Deductible claims against the estate 420,000 Loss from claims against insolvent persons 140,000 Insured loss from the earthquake 200,000

The house, when it was inherited on September 16, 2018, had a fair value of P1,150,000. The house was mortgaged to secure a debt of P600,000, which was assumed by Madam Q. Up to this date, the debt has not been fully paid and it is now being claimed as a deductible claim against the estate. Assume that all ordinary deductions are chargeable to the community property. Compute for the vanishing deduction 3. TRIPLE H Company produced 3,000 units of excisable goods with a wholesale price of P3,000,000, exclusive of VAT. If sold retail, the goods can be sold at P3,200,000. The goods are subject to a 20% ad valorem tax. Compute the excise tax due.

4. WACOC Company produced 5,000 units of excisable goods with a wholesale price of P5,000,000, exclusive of VAT. It can be sold at retail price of P6,000,000. The goods are subject to a 15% ad valorem tax. Compute the excise tax due.

5. TOYO Manufacturing Company had the following data: Wholesale invoice price, P4,500,000 Production cost, P3,500,000 Cost to sell, P1,500,000 Assuming the company is subject to 15% excise tax, compute the excise tax due. 6. Corporation, a manufacturer of handcrafted shoes, maintains its principal office in Cubao, Quezon City. It has branches/sales offices in Cebu and Davao. Its factory is located in Markina City where most of its workers live. Its principal office in Quezon City is also a sales office. Sales of finished products for calendar year 2023 in the amount of P10 million were made at the following locations: Cebu branch 25% Davao branch 15% Quezon City branch 60% Total 100% Assuming the local business tax is 12%, compute the business tax payable in cebu