had the following receipts during the month: Interest income from members P 210,000.00 Rent income from properties   50,000.00 Compute the amount subject to business tax a. P0 . b. P 50,000 c. P 210,000

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter6: Cash And Receivables
Section: Chapter Questions
Problem 10RE: On December 1 of the current year, Jordan Inc. assigns 125,000 of its accounts receivable to...
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TAMOGEPA Credit Cooperative transacts business with members and non-members. It had the following receipts during the month:

Interest income from members

P

210,000.00

Rent income from properties

 

50,000.00

Compute the amount subject to business tax

a. P0 .

b. P 50,000

c. P 210,000

d. P 260,000

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