Name: Kurt Lexter S.

Franco Section: BAMM1-01

Ricardo “Cardo” Dalisay Alyana R. Arevalo - Dalisay

Rent Income ₱112,575,346.7 Rent Income ₱112,575,346.7

Gross Income ₱746,514,598.5 Gross Income ₱180,001,541

Total Allowable Deductions ₱467,413,567.2 Total Allowable ₱193,156,055.4

Deductions
Taxable Income ₱203,241,157 Taxable Income ₱0

Income Tax ₱70,744,405 Income Tax ₱0

Gross Compensation Income ₱873,433

Income Tax ₱152,030

Solution: Ricardo “Cardo” Dalisay

Rent Income: 225,150,693.36 / 2 = 112,575,346.7

GPS: 750,256,369.32 – [(115,269,569.45 + 27,589,869.36) – 66,542,321.25]
 750,256,369.32 – (182,859,438.8 - 66,542,321.25)
 750,256,369.32 – 116,317,117.5 = 633,939,251.8
Gross Income: 633,939,251.8 + 112,575,346.7 = 746,514,598.5
Total Allowable Deduction:
 Discount: 750,256,369.32 x 0.25 = 187,564,092.3
187,564,092.3 x 0.20 = 37,512,818.47
 Salaries: 235,417,328.66 – 25% (Senior), 15% (PWD), 60% (Normal)
 Normal Salary: 235,417,328.66 x 0.60 = 141,250,397.2
 PWD (15%): 235,417,328.66 x 0.15 = 35,312,599.29
 35,312,599.29 x 1.25 = 44,140,749.11
 SC (25%): 235,417,328.66 x 0.25 = 58,854,332.15
 58,854,332.15 x 1.15 = 67,682,481.97
o Utility Expense: 68,415,324.89
o Storage Expense: 75,849,632.58
o Rent Expense: 32,562,162.94
o Normal Salary: 235,417,328.66 x 0.60 = 141,250,397.2
 35,312,599.29 x 1.25 = 44,140,749.11
 58,854,332.15 x 1.15 = 67,682,481.97
 Utility Expense: 68,415,324.89
 Storage Expense: 75,849,632.58
 Rent Expense: 32,562,162.94
 Total: 467,413,567.2
Net Income: 746,514,598.5 - 467,413,567.2 = 279,101,031.3
Taxable Income: 279,101,031.3 – 75,859,874.25 = 203,241,157.1
Income Tax: {[203,241,157.1 – 8,000,000] x (0.35) + 2,410,000}
(195,241,157.1 x 0.35) + 2,410,000 = 68,334,404.97
68,334,404.97 + 2,410,000 = 70,744,404.97

Gross Compensation Income:

Regular Salary – 748,251.02
Overtime Pay – 44,587.21
Holiday Pay – 56,987.33
Night Differential Pay – 65,415.94
Total: 915,241.5
SSS Contribution – 19,586.20
Pag-Ibig – 6,974.21
PhilHealth – 10,458.69
Labor Dues – 4,789.25
Total: 41,808.35

GCI: 915,241.5 - 41,808.35 = 873,433.15

Income Tax: {873,433.15 – 800,000 [x 0.30 (+130,000)]}
[73,433.15 x 0.30 (+ 130,000)]
22,029.945 + 130,000 = 152,029.945

Solution: Alyana R. Arevalo - Dalisay

GPS: 452,639,143.00 – [(365,123,657.21 + 98,546,245.47) – 78,456,954.01]

452,639,143.00 – (463,669,902.7 - 78,456,954.01)
452,639,143.00 – 385,212,948.7 = 67,426,194.3
Gross Income: 67,426,194.3 + 112,575,346.7 = 180,001,541
Total Allowable Deduction:
Salary Expense: 78,965,321.36
Utility Expense: 66,784,214.56
Storage Expense: 4,589,369.24
Repairs and Maintenance Expense: 10,254,987.32
Rent Expense: 32,562,162.94
Total: 193,156,055.4

Net Income: 180,001,541 - 193,156,055.4 = -13,154,514.4/ 0

Taxable Income: -13,154,514.4 – 55,758,589.36 = -68,913,103.76/ 0
Income Tax: 0