Income taxation by valencia chapter 3 (concepts of income)

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.. .INCOME TAXATION 5TH Edition (BY: VALENCIA & ROXAS) SUGGESTED ANSWERS Chapter 3: Concept of Income Problem – C Year 0 0 Sales Cost of sale Disposal cost Income for each year... crops sold C 4 03, 750 P 76,250 P 500,000 P 100,000 200,000 50,000 35 0,000 P 150,000 P 2,000,000 INCOME TAXATION 5TH Edition (BY: VALENCIA & ROXAS) SUGGESTED ANSWERS Chapter 3: Concept of Income Less:... TAXATION 5TH Edition (BY: VALENCIA & ROXAS) SUGGESTED ANSWERS Chapter 3: Concept of Income Add: Gain from sale of old furniture Taxable income 20,000 P260,000 Problem – 19 A Reportable income 2006 -
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