Reference no: EM132678705
Problem 1: Mr. Seigfried, a resident citizen, received P100, 000 dividend income from Vodka, Inc., a domestic corporation. How much final tax must have been withheld by Vodka, Inc.?
Problem 2: Ms. Gina owns 40% of the capital and profits of Cebu Ventures, a business partnership engaged in the trade of tourist souvenirs. Cebu Ventures reported P200, 000 net income in 2014. Compute the total final tax to be withheld by the partnership on Gina's profit sharing.
a. P 0
b. P 8,000
c. P 10, 000
d. P 20, 000
Problem 3: Raymond owns 20% of the capital and profits of a general professional partnership. The partnership reported P500, 000 profits in 2014. How much final tax withheld from Raymond?
a. P 100, 000
b. P 50, 000
c. P 10, 000
d. P 0
Problem 4: Teddy is a venturer sharing 50% in the profits of Wise Ventures, an unincorporated joint venture, engaged in the trading of home appliances. Wise Ventures reported P200, 000 profits for 2014. How much final tax will be withheld by Wise Ventures?
a. P 0
b. P 10, 000
c. P 20, 000
d. P 40, 000
Problem 5: Zamboanga Corporation, a resident corporation, is a venturer in Southern Philippine Ventures (SPV), an incorporated joint venture formed under Philippine laws. Zamboanga owns 30% interest in SPV. During 2014, SPV reported P3,000,000 profit and declared P1,000,000 in dividends. How much final tax will be withheld from the dividend distribution to Zamboanga Corporation?
a. P 100, 000
b. P 30, 000
c. P 90, 000
d. P 0