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The following cumulative balances during the year 2018 on income and expenses were provided by Olivia Jones, a resident citizen. 1st Quarter 300,000 120,000 2nd
The following cumulative balances during the year 2018 on income and expenses were provided by Olivia Jones, a resident citizen. 1st Quarter 300,000 120,000 2nd Quarter 650,000 262,000 5,000 3rd Quarter 910,000 405,890 25,000 4th Quarter 1,200,000 426,700 25,000 20,000 20,000 30,000 30,000 Gross Sales Cost of Sales Creditable Withholding Tax Dividends- domestic corporation Interest income- domestic BPI UCPB METROBANK Capital gain on sale of land 4,000 8,000 5,000 150,000 8,000 12,000 10,000 150,000 12,000 16,000 15,000 150,000 16,000 18,000 30,000 150,000 Selling Price is P600,000 Cost is P450,000 Questions: How much is the income tax payable for the 1st, 2nd, 3rd and 4th quarter? How much is the total final tax on interest income
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