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Find how much final tax will be withheld by wise ventures

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Reference no: EM132717272

Problem 1: 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

Reference no: EM132717272

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