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please help me. 22-8 Income Tax Law and Accounting Cha TAN EXERCISES P20,000 NET 30,000 P 900,000 500,000 30,000 TH inca taxa the iter (
please help me.
22-8 Income Tax Law and Accounting Cha TAN EXERCISES P20,000 NET 30,000 P 900,000 500,000 30,000 TH inca taxa the iter ( (L C ness C 22-1. A charitable contribution in property was made by a taxpayer Cost of the property to the taxpayer Fair market value of the property at the time con- tribution How much is the actual contribution? 22-2. The taxpayer is an individual Gross income All deductions, except contributions Actual contributions subject to limitation Deduction for contributions? 22-3. The taxpayer is an individual Gross income per books of accounts, business P 500,000 200,000 Gross incorne, non-business Expenses (others) per books of accounts, busi- 300,000 Contribution to churches (subject to limitation), per 35,000 books of accounts Alms to beggars 2,000 Deduction for contribution? 22-4. The taxpayer is a corporation Gross income P5,000,000 All deductions, except contributions 3,000,000 Actual contributions subject to limitation 120,000 Deduction for contributions? 22-5. Taxpayer is a corporation. Gross income from business P4,000,000 Business expenses, except contributions 3,000,000 Contributions deductible in full 40,000 Contributions deductible subject to limitation 60,000 Deduction for contributions? 22-6. The taxpayer is a corporation Gross income from business P6,000,000 All deductions, except contributions 4,000,000 Actual contributions: To the Government, for priority activity in pub- lic education To charitable institutions 100,000 210,000 Deduction for contributions? hc de ea dStep by Step Solution
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