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Mr. Buaya, with 14 dependent children, had the following data for his income tax return in 2018: Sales P490,000 Gross compensation income 120,000 Cost of
- Mr. Buaya, with 14 dependent children, had the following data for his income tax return in 2018:
Sales P490,000
Gross compensation income 120,000
Cost of sales 200,000
Non-taxable compensation 30,000
Administrative and Selling expenses 120,000 - Personal expenses 70,000
What is the net income?
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
