6. Mr. Masipag had annual gross receipts not exceeding P100,000.

During the month, he made the following sales: Sale of car

9. JDC Corporation, a merchandiser, had the following sales during the month. Sale of merchandise 200,000 Commission inco

6 A
7 C
8 B
9 B
10 B
ade the following sales: Sale of car rugs 2,000 Sale of cigarettes 3,000 Sale of candies 3,000 Total 8,000 Compute the total amount subject
handise 200,000 Commission income from consignors 50,000 Sales of stocks investments 180,000 Compute the amount subject to busine
Compute the total amount subject to business tax. a. P0 b. P2,000 c. P5,000 d. P8,000 Note: Mr. Masipag is a marginal income earner who
pute the amount subject to business tax. a. P200,000 b. P250,000 c. P380,000 d. P430,000 Note: The sale of investment (a capital asset) is
g is a marginal income earner who is exempt from business tax. 7. Mr. Kim Jong, a security dealer, sold the following during the month: Sa
e of investment (a capital asset) is not subject to business tax. 10. Mang Indio has a sari-sari store with P500,000 annual sales. He had the
he following during the month: Sale of securities for own account 400,000 Commission income on sale of securities of clients 36,0000 Sale
500,000 annual sales. He had the following sales during the month: Sale of various merchandise 30,000 Cash donated by his brother 200,
of securities of clients 36,0000 Sale of vacant lot held as investment 1,000,000 What is the amount subject to business tax? a. P0 b. P36,00
Cash donated by his brother 200,000 Cash from proceeds of bank loan 300,000 Compute the amount subject to business tax. a. P0 b. P30
ect to business tax? a. P0 b. P36,000 c. P436,000 d. P1,436,000 Note: The sale of lot held as investment (a capital asset) is not a business s
a capital asset) is not a business sale. 8. A non-stock charitable organization realized the following during the month: Membership contrib
g the month: Membership contributions 300,000 Donation from various donors 400,000 Sale of souvenirs 200,000 Compute the amount
rs 200,000 Compute the amount subject to business tax. a. P0 b. P200,000 c. P500,000 d. P900,000 Note: The