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How much is the grt on march rentals

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Reference no: EM132873972

Problem - Solve the problem below. Show solution and submit in pdf format.

Ballada Bank had the following income/loss for the month of March:

Interest income with maturity of 5 years P50,000

Rentals 50,000

Net trading loss (10,000)

For the month of April, Ballada Bank had the following income:

Interest income with maturity of 5 years P100,000

Rentals 50,000

Net trading loss 10,000

1. How much is the gross receipt tax (GRT) on March interest income?

2. How much is the GRT on March rentals?

3. How much is the total GRT for the month of March?

4. How much is the gross receipt tax (GRT) on April interest income?

5. How much is the GRT on April rentals?

6. How much is the total GRT for the month of April?

Reference no: EM132873972

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