A. 450,000 B. 468,000 C. 508,000 D. 558,000 .Pedro earned and incurred the following income and expenses:

 

A. 450,000

B. 468,000

C. 508,000

D. 558,000

Transcribed Image Text:

.Pedro earned and incurred the following income and expenses: Compensation (exclusive of mandatory contributions) Mandatory contributions Gross receipts from business Cost of service Operating expenses Royalties from books Personal expenses Interest income from client notes P200,000 20,000 500,000 150,000 50,000 40,000 170,000 8,000 Compute the taxable income subject to the graduated tax rates. .Pedro earned and incurred the following income and expenses: Compensation (exclusive of mandatory contributions) Mandatory contributions Gross receipts from business Cost of service Operating expenses Royalties from books Personal expenses Interest income from client notes P200,000 20,000 500,000 150,000 50,000 40,000 170,000 8,000 Compute the taxable income subject to the graduated tax rates.

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Step 1 The introduction and definiton Taxable income Taxable income refers to the sum of gross incom... View the full answer