Mr. B. Nawi was seriously injured when he was hit by a bus of Mabilis Bus...

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Mr. B. Nawi was seriously injured when he was hit by a bus of Mabilis Bus Lines Company while he was parking at the sidewalk of Roxas Boulevard. He sued. Mabilis Bus Lines Company for damages. The court, which found the bus driver negligent, awarded to him the following: Hospitalization expenses Moral damages Payment for damaged car Loss of income during his confinement and recovery Attorney's fees Payment for loss of laptop during the accident a. Required: Compute and present in good form the following: Recoveries/receipts which are taxable. Recoveries/receipts which are not taxable. a. b. P 300,000.00 50,000.00 600,000.00 280,000.00 32,000.00 35,000.00 You were able to obtain the following additional information: The net book value of the car and the laptop at the time of the accident was P450,000.00 and P30,000.00, respectively. Mr. B. Nawi paid his lawyer P25,000.00 in attorney's fees. While he was recuperating at the hospital, he also won P20,000.00 as the 100,000th visitor of the site while he was playing games in his tablet. Mr. B. Nawi was seriously injured when he was hit by a bus of Mabilis Bus Lines Company while he was parking at the sidewalk of Roxas Boulevard. He sued. Mabilis Bus Lines Company for damages. The court, which found the bus driver negligent, awarded to him the following: Hospitalization expenses Moral damages Payment for damaged car Loss of income during his confinement and recovery Attorney's fees Payment for loss of laptop during the accident a. Required: Compute and present in good form the following: Recoveries/receipts which are taxable. Recoveries/receipts which are not taxable. a. b. P 300,000.00 50,000.00 600,000.00 280,000.00 32,000.00 35,000.00 You were able to obtain the following additional information: The net book value of the car and the laptop at the time of the accident was P450,000.00 and P30,000.00, respectively. Mr. B. Nawi paid his lawyer P25,000.00 in attorney's fees. While he was recuperating at the hospital, he also won P20,000.00 as the 100,000th visitor of the site while he was playing games in his tablet.

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Taxable recoveriesreceipts 1 Payment for loss of laptop d... View the full answer