Reference no: EM132678709
Problem 1. Mr. Aguak earned the following prizes from two different competitions:
Date Event Gross Prize
January 4, 2017 Singing competition P 12, 000
February 14, 2017 Painting Competition 10, 000
Compute the total final tax that should have been withheld from the above prizes.
a. P 5, 500
b. P 4, 420
c. P 3, 000
d. P 2, 400
Problem 2. Mr. Rems Orayt participated in two different events on January 4, 2020:
Date Organizer Competition Gross Prize
January 4, 2020 Ang Mahiwagang Boses Singing P 10, 000
January 4, 2020 Sexy Body Foundation Dancing 11, 000
Compute the total final tax that should have been withheld from the above prizes.
a. P 0
b. P 4, 420
c. P 3, 000
d. P 2, 00
Problem 3. Mr. Conrado won the P50,000,000 6/49 Superlotto Jackpot of the Philippine Charity Sweepstakes Office. How much final tax will be withheld?
a. P 500, 000
b. P 200, 000
c. P 100, 000
d. P 0
Problem 4. Ms. Matti won a gold medal and P50, 000 cash prize for chess competition in the Palarong Pambansa. How much final tax should be withheld from the prize?
a. P 20, 000
b. P 10, 000
c. P 5, 000
d. P 0
Problem 5. Tiong Sang Department Store conducted a sales promotion where customer purchases exceeding P1,000 in one transaction shall be entitled to a ticket for a chance to win P500, 000 raffle prize. Mr. Shing won the prize.
How much shall Tiong Sang withhold from the grand prize?
a. P 200, 000
b. P 100, 000
c. P 50, 000
d. P 0
|
Ethical dilemmas-breaches and leadership consequences
: Government and nonprofit leaders encounter ethical dilemmas regularly as they perform their duties.
|
|
What is the deadline for the return
: A taxpayer wants to manually file his Monthly Remittance Return of Final Income Tax Withheld for the month of February 2017. What is the deadline for the return
|
|
Describe how does selected practice problem impact nurses
: From a global/nationwide perspective, how does the selected practice problem impact nurses, nursing care, healthcare organizations, and the qu ality of care.
|
|
What is the book value of the equipment
: The balance in the accumulated depreciation-equipment account is $2,075,000. What is the book value of the equipment
|
|
How much final tax will be withheld
: Mr. Conrado won the P50,000,000 6/49 Superlotto Jackpot of the Philippine Charity Sweepstakes Office. How much final tax will be withheld?
|
|
Review the teaching plan proposal with a community health
: After completing the teaching proposal, review the teaching plan proposal with a community health and public health provider in your local community.
|
|
What is the amount of tax expense for the current year
: On May 2, A-Z Construction prepaid $18,480 to the city for taxes (license fees) for the next 12 months. What is the amount of tax expense for the current year
|
|
Key advantages of selling goods and services
: Describe certain key advantages of selling goods and services to the U.S. government.
|
|
Compute the total final tax to be withheld by partnership
: 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.
|