In 2019, A, the owner of Victory Supermarket lent P100,000 to B, the supermarket manager. It...

 

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In 2019, A, the owner of Victory Supermarket lent P100,000 to B, the supermarket manager. It was stipulated in their agreement that the amount should be paid in one year with an annual interest of 3%. Determine the fringe benefit tax due. Round off your answer to the nearest whole number. JJJ an individual taxpayer obtains a loan of P1,500,000 from B Bank with an interest of 12% per annum. He deposited the proceeds to C Bank to secured the money while waiting for its actual disbursement. The deposit earns an interest of 8% per annum. How much will be the allowable interest expense of JJJ? In 2019, A, the owner of Victory Supermarket lent P100,000 to B, the supermarket manager. It was stipulated in their agreement that the amount should be paid in one year with an annual interest of 3%. Determine the fringe benefit tax due. Round off your answer to the nearest whole number. JJJ an individual taxpayer obtains a loan of P1,500,000 from B Bank with an interest of 12% per annum. He deposited the proceeds to C Bank to secured the money while waiting for its actual disbursement. The deposit earns an interest of 8% per annum. How much will be the allowable interest expense of JJJ?

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1 The formula to calculate simple interest is InterestPrincipalRateTimeIntere... View the full answer