Problem 4A Pure Self-Employment Engr. Cala offers professional consultancy services. For taxable year 2018, her records...

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Problem 4A Pure Self-Employment Engr. Cala offers professional consultancy services. For taxable year 2018, her records show a total gross receipt of P3,850,000.00, cost of services amounting to P1,900,000.00 and operating expenses P800,000.00. Compute for Engr. Cala's income tax liability for 2018. Problem 4B Pure Self-Employment Dr. Adrina is a renowned medical practitioner. In 2018, her medical practice's gross receipts amounted to P5,700,000.00. Her cost of services and operating expenses were P2,200,000.00 and P750,000.00, respectively. What is Dr. Adrina's income tax liability for 2018? Problem 5A Pure Self-Employment Mr. Blanco is the owner of a music lounge. For the year 2018, records showed that gross sales and receipts amounted to P2,350,000.00, cost of sales was P1,050,000.00, operating expenses was P550,000.00 and non-operating income was P175,000.00. Compute for Mr. Blanco's income tax due for 2018. AM Problem 5B Pure Self-Employment Mr. Adarius operates a videoke bar. Gross sales and receipts for 2018 amounted to P5,500,000.00. His accounting records also showed the following: Cost of sales - P2,800,000.00; operating expenses - P950,000.00 P350,000.00. What is the income tax due of Mr. Adarius for 2018? dinon-operating income - qual Income Taxation J Problem 6B Both Compensation and Self-Empl Mr. Adrien, Advertising Director of Binah souvenir shop business in 2018: Annual Compensation Income, including 13th Month Pay and Other Benefits of P170,000.00. but net of mandatory contributions to SSS, Phil health and HDMF Gross Sales - Souvenir Non-Operating Income Cost of Sales Problem 6A Both Compensation and Self-Employment In 2018, Mr. Bonaro, Senior Manager of Bosley, Inc. earned an annual compensation of P1,800,000.00, inclusive of 13th month pay and other benefits amounting to P130,000.00 but net of mandatory contributions to SSS, Philhealth and HDMF. Aside from being employed, he is also into the business of selling travel accessories. His gross sales for the year was P2,700,000.00. His cost of sales and operating expenses were P1,200,000.00 operating income was P250,000.00 and P700,000.00, respectively, while non- A. Compute for the income tax due for 2018 assuming that he signified his intention to be taxed at 8% income tax rate on his gross sales for his income from business. B. Had Mr. Bonaro opted not to be taxed at the 8% income income, what will be his income tax due for 2018? tax rate based on gross sales and other non-operating C. Mr. Bonaro decided to resign from employment in February 2019. His total compensation income by then amounted to P180,000.00 inclusive of P20,000.00 benefits. Assuming that his business operations for 2019 were ome tax rate was availed of, determine the total income tax due the same as the year before and that the 8% i of Mr. Bonaro for the year 2019? Corporation has the following records for his income from employment and 2,400,000 1,700,000 85,000 700,000 300,000 Operating Expens A. Mr. Adrien opted to be taxed at 8% income tax rate on his gross sales for his income from business. Determine Mr. Adrien's income tax due for 2018? B. Assume that Mr. Adrien did not signify his intention to be taxed at the 8% income tax rate based on gross sales and other non-operating income. Compute for Mr. Adrien's income tax due for the year. C. Mr. Adrien filed his resignation from employment in March 2019. Up to that month, his total compensation income totaled P480,000.00 inclusive of P80,000.00 benefits. Assume that his business operations for 2019 were the same as last year. For 2019, he opted for the 8% income tax rate. What will be the total income tax due of Mr. Adrien for the year 2019? Problem 7A Both Compensation and Self-Employment In 2018, Mr. Boris, Sales Manager of Bowen International Corp., earned an annual compensation of P1,380,000.00. inclusive of 13th month pay and other benefits amounting to P135,000.00. He is also a proprietor of an organic vegetable farm with gross sales of P3,750,000.00 and non-operating income of P175,000.00. Cost of sales and operating expenses were P1,250,000.00 and P675,000.00, respectively. What is Mr. Boris' income tax due for 2018? Problem 4A Pure Self-Employment Engr. Cala offers professional consultancy services. For taxable year 2018, her records show a total gross receipt of P3,850,000.00, cost of services amounting to P1,900,000.00 and operating expenses P800,000.00. Compute for Engr. Cala's income tax liability for 2018. Problem 4B Pure Self-Employment Dr. Adrina is a renowned medical practitioner. In 2018, her medical practice's gross receipts amounted to P5,700,000.00. Her cost of services and operating expenses were P2,200,000.00 and P750,000.00, respectively. What is Dr. Adrina's income tax liability for 2018? Problem 5A Pure Self-Employment Mr. Blanco is the owner of a music lounge. For the year 2018, records showed that gross sales and receipts amounted to P2,350,000.00, cost of sales was P1,050,000.00, operating expenses was P550,000.00 and non-operating income was P175,000.00. Compute for Mr. Blanco's income tax due for 2018. AM Problem 5B Pure Self-Employment Mr. Adarius operates a videoke bar. Gross sales and receipts for 2018 amounted to P5,500,000.00. His accounting records also showed the following: Cost of sales - P2,800,000.00; operating expenses - P950,000.00 P350,000.00. What is the income tax due of Mr. Adarius for 2018? dinon-operating income - qual Income Taxation J Problem 6B Both Compensation and Self-Empl Mr. Adrien, Advertising Director of Binah souvenir shop business in 2018: Annual Compensation Income, including 13th Month Pay and Other Benefits of P170,000.00. but net of mandatory contributions to SSS, Phil health and HDMF Gross Sales - Souvenir Non-Operating Income Cost of Sales Problem 6A Both Compensation and Self-Employment In 2018, Mr. Bonaro, Senior Manager of Bosley, Inc. earned an annual compensation of P1,800,000.00, inclusive of 13th month pay and other benefits amounting to P130,000.00 but net of mandatory contributions to SSS, Philhealth and HDMF. Aside from being employed, he is also into the business of selling travel accessories. His gross sales for the year was P2,700,000.00. His cost of sales and operating expenses were P1,200,000.00 operating income was P250,000.00 and P700,000.00, respectively, while non- A. Compute for the income tax due for 2018 assuming that he signified his intention to be taxed at 8% income tax rate on his gross sales for his income from business. B. Had Mr. Bonaro opted not to be taxed at the 8% income income, what will be his income tax due for 2018? tax rate based on gross sales and other non-operating C. Mr. Bonaro decided to resign from employment in February 2019. His total compensation income by then amounted to P180,000.00 inclusive of P20,000.00 benefits. Assuming that his business operations for 2019 were ome tax rate was availed of, determine the total income tax due the same as the year before and that the 8% i of Mr. Bonaro for the year 2019? Corporation has the following records for his income from employment and 2,400,000 1,700,000 85,000 700,000 300,000 Operating Expens A. Mr. Adrien opted to be taxed at 8% income tax rate on his gross sales for his income from business. Determine Mr. Adrien's income tax due for 2018? B. Assume that Mr. Adrien did not signify his intention to be taxed at the 8% income tax rate based on gross sales and other non-operating income. Compute for Mr. Adrien's income tax due for the year. C. Mr. Adrien filed his resignation from employment in March 2019. Up to that month, his total compensation income totaled P480,000.00 inclusive of P80,000.00 benefits. Assume that his business operations for 2019 were the same as last year. For 2019, he opted for the 8% income tax rate. What will be the total income tax due of Mr. Adrien for the year 2019? Problem 7A Both Compensation and Self-Employment In 2018, Mr. Boris, Sales Manager of Bowen International Corp., earned an annual compensation of P1,380,000.00. inclusive of 13th month pay and other benefits amounting to P135,000.00. He is also a proprietor of an organic vegetable farm with gross sales of P3,750,000.00 and non-operating income of P175,000.00. Cost of sales and operating expenses were P1,250,000.00 and P675,000.00, respectively. What is Mr. Boris' income tax due for 2018?

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Certainly lets calculate the income tax liability for each scenario Problem 4A Engr Calas Income Tax Liability for 2018 textGross Receipts textCost of ... View the full answer