The following relates to a taxpayer: Interest expense on bank loan offset by P12,000 net interest...

 

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The following relates to a taxpayer: Interest expense on bank loan offset by P12,000 net interest income from the temporary deposit of the borrowed amount the same bank amounting to P295,00. Interest income form bonds amounted to P80,000 Compute for the deductible interest expense P The following relates to a taxpayer: Interest expense on bank loan offset by P12,000 net interest income from the temporary deposit of the borrowed amount the same bank amounting to P295,00. Interest income form bonds amounted to P80,000 Compute for the deductible interest expense P

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Answer Deductible Interest Expense Interest Expense 33 of interest income from ... View the full answer