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ASSUMING GOCE & OLIVEROS PARTNERSHIP are partners IN TRADE. the 2020 financial records. SERVICE REVENUE 4,490,000; COST OF SERVICE 1,610,000; OPEX 800,000 THE PROFIT AND LOSS IS DISTRIBUTED 55% GOCE AND 45% OLIVEROS. GOCE IS ALSO ENGAGED IN BUSINESS WITH THE FOLLOWING DATA FOR THE YEAR GROSS SALES 2,500,000; COST OF SALES 1,250,000 AND OPEX 550,000. HOW MUCH IS THE INCOME TAX PAYABLE OF GOCE & OLIVEROS PARTNERSHIP? DISTRIBUTABLE SHARE OF OLIVEROS? FINAL TAX OF GOCE? FINAL TAX OF OLIVEROS?   Use Philippine tax lax

ASSUMING GOCE & OLIVEROS PARTNERSHIP are partners IN TRADE. the 2020 financial records. SERVICE REVENUE 4,490,000; COST OF SERVICE 1,610,000; OPEX 800,000 THE PROFIT AND LOSS IS DISTRIBUTED 55% GOCE AND 45% OLIVEROS. GOCE IS ALSO ENGAGED IN BUSINESS WITH THE FOLLOWING DATA FOR THE YEAR GROSS SALES 2,500,000; COST OF SALES 1,250,000 AND OPEX 550,000. HOW MUCH IS THE INCOME TAX PAYABLE OF GOCE & OLIVEROS PARTNERSHIP? DISTRIBUTABLE SHARE OF OLIVEROS? FINAL TAX OF GOCE? FINAL TAX OF OLIVEROS?   Use Philippine tax lax

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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ASSUMING GOCE & OLIVEROS PARTNERSHIP are partners IN TRADE. the 2020 financial records. SERVICE REVENUE 4,490,000; COST OF SERVICE 1,610,000; OPEX 800,000 THE PROFIT AND LOSS IS DISTRIBUTED 55% GOCE AND 45% OLIVEROS. GOCE IS ALSO ENGAGED IN BUSINESS WITH THE FOLLOWING DATA FOR THE YEAR GROSS SALES 2,500,000; COST OF SALES 1,250,000 AND OPEX 550,000. HOW MUCH IS THE INCOME TAX PAYABLE OF GOCE & OLIVEROS PARTNERSHIP? DISTRIBUTABLE SHARE OF OLIVEROS? FINAL TAX OF GOCE? FINAL TAX OF OLIVEROS?

 

Use Philippine tax lax

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