The following cumulative balances during the year 2018 on income and expenses were provided by Tupac Shakur, a resident citizen. 1st quarter 2nd quarter 3rd quarter 4th quarter Gross sales 300,000.00 650,000.00 910,000.00 1,200,000.00 Cost of Sales 120,000.00 262,000.00 405,890.00 426,700.00 Creditable Withholding Tax - 5,000.00 25,000.00 25,000.00 Dividends-domestic corporation 20,000.00 20,000.00 30,000.00 30,000.00 Interest income - domestic BPI 4,000.00 8,000.00 12,000.00 16,000.00 UCPB 8,000.00 12,000.00 16,000.00 18,000.00 METROBANK 5,000.00 10,000.00 15,000.00 30,000.00 CAPITAL GAIN ON SALE OF LAND 150,000.00 150,000.00 150,000.00 150,000.00 >SELLING PRICE IS P600,000 COST IS P450,000 How much is the income tax payable for each quarter?

The following cumulative balances during the year 2018 on income and expenses were provided by Tupac Shakur, a resident citizen. 1st quarter 2nd quarter 3rd quarter 4th quarter Gross sales 300,000.00...

The following cumulative balances during the year 2018 on income and expenses were provided by Tupac Shakur, a resident citizen.

		1st quarter	2nd quarter	3rd quarter	4th quarter
Gross sales	300,000.00	650,000.00	910,000.00	1,200,000.00
Cost of Sales	120,000.00	262,000.00	405,890.00	426,700.00
Creditable Withholding Tax	-	5,000.00	25,000.00	25,000.00

Dividends-domestic corporation	20,000.00	20,000.00	30,000.00	30,000.00
Interest income - domestic
BPI		4,000.00	8,000.00	12,000.00	16,000.00
UCPB		8,000.00	12,000.00	16,000.00	18,000.00
METROBANK	5,000.00	10,000.00	15,000.00	30,000.00

CAPITAL GAIN ON SALE OF LAND	150,000.00	150,000.00	150,000.00	150,000.00
>SELLING PRICE IS P600,000 COST IS P450,000

How much is the income tax payable for each quarter?

Jun 09, 2022