Question
Mr. velasco, a national athlete received the following during the year: Ramon Magsaysay award P50,000 Athlete of the year award 100,000 Prize- Jolibee raffle 5,000
Mr. velasco, a national athlete received the following during the year:
Ramon Magsaysay award P50,000
Athlete of the year award 100,000
Prize- Jolibee raffle 5,000
Prize for winning the silver Olympic medal 500,000
Gift from mr. Alfred Lim 250,000
Car from Nissan as a gift 1,000,000
Winnings- Philippine sweepstake 100,000
Gambling winnings 500,000
The total winning s/awards and prizes not subject to income tax is:
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Fundamentals of Financial Accounting
Authors: Fred Phillips, Robert Libby, Patricia Libby, Brandy Mackintosh
4th Canadian edition
978-1259269868, 978-1259103292
