Mr. Aksay went to lloilo City for a 3-day official business. He received an allowance amounted...

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Mr. Aksay went to lloilo City for a 3-day official business. He received an allowance amounted to P 25,000. Upon his returned, he liquidated his expenses: Plane Fare (Manila to Iloilo and back) Hotel Accommodation including 3 meals/day Meals and Drinks with Ilonggo friends Tour expenses with friends and clients Total Upon his arrival in Manila, he had a fever and forced him to go on leave for 14 days. Despite the home quarantine, he was paid a complete salary and allowances for the month in the amount of P 85,000. Problem 3- Recovery of Bad Debts Previously Deducted Case 1 Case 2 6,500 6,000 Question: 1) Based on the information above, how much income does Mr. Aksay is subject to income tax? 2020 Net Income before write-off of bad debts Less: Bad Debts written off Net Income after bad debts 3,500 9,000 25,000 70,000 40,000 30,000 Case 3 70,000 70,000 80,000 85,000 (10,000) (15,000) 2021 Amount Recovered 40,000 30,000 40,000 85,000 Questions: 1) What is the taxable amount on the recovery of bad debts in Case No. 1? 2) What is the taxable amount on the recovery of bad debts in Case No. 2? 3) What is the taxable amount on the recovery of bad debts in Case No. 3? 4) What is the taxable amount on the recovery of bad debts in Case No. 4? 70,000 55,000 15,000 Case 4 Mr. Aksay went to lloilo City for a 3-day official business. He received an allowance amounted to P 25,000. Upon his returned, he liquidated his expenses: Plane Fare (Manila to Iloilo and back) Hotel Accommodation including 3 meals/day Meals and Drinks with Ilonggo friends Tour expenses with friends and clients Total Upon his arrival in Manila, he had a fever and forced him to go on leave for 14 days. Despite the home quarantine, he was paid a complete salary and allowances for the month in the amount of P 85,000. Problem 3- Recovery of Bad Debts Previously Deducted Case 1 Case 2 6,500 6,000 Question: 1) Based on the information above, how much income does Mr. Aksay is subject to income tax? 2020 Net Income before write-off of bad debts Less: Bad Debts written off Net Income after bad debts 3,500 9,000 25,000 70,000 40,000 30,000 Case 3 70,000 55,000 15,000 70,000 70,000 80,000 85,000 (10,000) (15,000) 2021 Amount Recovered 40,000 30,000 40,000 85,000 Questions: 1) What is the taxable amount on the recovery of bad debts in Case No. 1? 2) What is the taxable amount on the recovery of bad debts in Case No. 2? 3) What is the taxable amount on the recovery of bad debts in Case No. 3? 4) What is the taxable amount on the recovery of bad debts in Case No. 4? Case 4 Mr. Aksay went to lloilo City for a 3-day official business. He received an allowance amounted to P 25,000. Upon his returned, he liquidated his expenses: Plane Fare (Manila to Iloilo and back) Hotel Accommodation including 3 meals/day Meals and Drinks with Ilonggo friends Tour expenses with friends and clients Total Upon his arrival in Manila, he had a fever and forced him to go on leave for 14 days. Despite the home quarantine, he was paid a complete salary and allowances for the month in the amount of P 85,000. Problem 3- Recovery of Bad Debts Previously Deducted Case 1 Case 2 6,500 6,000 Question: 1) Based on the information above, how much income does Mr. Aksay is subject to income tax? 2020 Net Income before write-off of bad debts Less: Bad Debts written off Net Income after bad debts 3,500 9,000 25,000 70,000 40,000 30,000 Case 3 70,000 70,000 80,000 85,000 (10,000) (15,000) 2021 Amount Recovered 40,000 30,000 40,000 85,000 Questions: 1) What is the taxable amount on the recovery of bad debts in Case No. 1? 2) What is the taxable amount on the recovery of bad debts in Case No. 2? 3) What is the taxable amount on the recovery of bad debts in Case No. 3? 4) What is the taxable amount on the recovery of bad debts in Case No. 4? 70,000 55,000 15,000 Case 4 Mr. Aksay went to lloilo City for a 3-day official business. He received an allowance amounted to P 25,000. Upon his returned, he liquidated his expenses: Plane Fare (Manila to Iloilo and back) Hotel Accommodation including 3 meals/day Meals and Drinks with Ilonggo friends Tour expenses with friends and clients Total Upon his arrival in Manila, he had a fever and forced him to go on leave for 14 days. Despite the home quarantine, he was paid a complete salary and allowances for the month in the amount of P 85,000. Problem 3- Recovery of Bad Debts Previously Deducted Case 1 Case 2 6,500 6,000 Question: 1) Based on the information above, how much income does Mr. Aksay is subject to income tax? 2020 Net Income before write-off of bad debts Less: Bad Debts written off Net Income after bad debts 3,500 9,000 25,000 70,000 40,000 30,000 Case 3 70,000 55,000 15,000 70,000 70,000 80,000 85,000 (10,000) (15,000) 2021 Amount Recovered 40,000 30,000 40,000 85,000 Questions: 1) What is the taxable amount on the recovery of bad debts in Case No. 1? 2) What is the taxable amount on the recovery of bad debts in Case No. 2? 3) What is the taxable amount on the recovery of bad debts in Case No. 3? 4) What is the taxable amount on the recovery of bad debts in Case No. 4? Case 4

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Mr Aksays Business Trip Expenses Mr Aksay received an allowance of P 25000 for his business trip His ... View the full answer