A certain tax payers has the following income and expenses for the taxable year: Salary, Procter and

Fantastic news! We've Found the answer you've been seeking!

Question:

A certain tax payers has the following income and expenses for the taxable year:

Salary, Procter and Gamble Phils Inc P240,000

Rental Income – Phil. 480,000

Rental Income – USA 600,000

Cash dividends from P&G Phils Inc 20,000

Interest Income on time deposits, FNCB, Makati Branch 15,000

Allowable deduction on rental business

Philippines 220,000

USA 200,000

Required:

NRA-ETB, single

NRA-NETB, married with 12 children, assuming that all income he received from the Philippines are non-business income.

Posted Date: Nov 12, 2021 11:56 PM

See More Questions

Solve the initial value problem on the real line 2u u t x = 36 u(x, 0) = xe t (x,0) = 0
Your purchase price is $200 and the tax rate is 10%. Choose the best estimate of the total price. a. $190 b. $210 c. $220 d. $300
Assume that the tax rate is 35 percent. You can borrow at 8 percent before taxes. Should you lease or buy? You work for a nuclear research laboratory that is contemplating leasing a diagnostic...
Why must Microsoft report this charge of over $1billion entirelyin one quarter, the last quarter of the company's physicalyear? From an accounting point of view, what willMicrosoft do in the futur?
The SAT2010 data file on the text CD contains combined average SAT scores for each of the 50 states and Washington D.C., and also the corresponding participation rate of each state. Lets consider...
Describe the concept of an integrated audit of the financial statements and internal control required by PCAOB standards.
If you drop a brick from a height of $50 \mathrm{~mm}$ onto your toe, it probably won't hurt much, but if you drop the brick from a height of $0.5 \mathrm{~m}$, it will hurt. The force of gravity...
Otay Lakes Park is a private camping ground near the Mount Miguel Recreation Area. It has compiled the following financial information as of December 31, 2017. Instructions (a) Determine Otay Lakes...
Write one page about pipelining in smartphones that support Android operating systems. (10 marks)
Select all that apply: Requisitioning an OTC item to use for script fulfillment includes: Purchasing the item through the Target POS Generating a Price Barcode using price inquiry Getting a Target...
Kosmas is a high-quality, private motor manufacturing company. It has recently joined a consortium for the purchase of parts. Kosmas 's purchases and capital expenditure systems are not integrated....
What does an airplane that FedEx owns and uses to deliver packages represent for FedEx?
Which investment strategy involves purchasing properties and renting them out to tenants for regular income?
how does woolworths group limited utilise Job Costing and provide a brief description of each company's revenue streams and why Job Costing would be utilised?
In 2016 financial commentators noted that a push by the FASB to expand the use of fair value accounting had rekindled the debate about its costs and benefits. Discuss the trade-offs between relevance...
define Which statements are generally applicable to Intel processors when compared to AMD processors?
The current UK national car - ownership model (NATCOP) makes forecasts of three probabilities: 1+ 2+ |1+ and 3 + 12 + . Explain what these probabilities mean. b) Table 3.1 gives some data on car...
Marc Company assembles products from a group of interconnecting parts. The company produces some of the parts and buys some from outside vendors. The vendor for Part X has just increased its price by...
Milj-Spe AS produces two joint products, cooking oil and soap oil, from a single vegetable oil refining process. In July 2022, the joint costs of this process were NOK 24 000 000. Separable...
Galinha-Esquina SA grows and processes chickens. Each chicken is disassembled into five main parts. Information pertaining to production in July 2022 is as follows: Joint costs of production in July...
Claude Deux-Bussy is the owner and operator of Boissons Barbe-Bleue Sarl, a bulk soft-drink producer. A single production process yields two bulk soft drinks, Pellas (the main product) and Mlisande...

A certain tax payers has the following income and expenses for the taxable year: Salary, Procter and

Question:

Expert Answer:

Question SHARES AT END OF THE YEAR 700000 NOW BASIC EARNING PER SHARE NET INCOMENO OF SHARES 1300000 ... View the full answer

Students also viewed these finance questions