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Pinnacle - Answer Key (TAXATION)

The document contains a series of theories and problems, each associated with multiple-choice answers and numerical data. It appears to be an assessment or examination format, with various sections for theories and corresponding problems. The data includes specific values, dates, and references to financial figures, possibly related to taxation or accounting.

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670 views25 pages

Pinnacle - Answer Key (TAXATION)

The document contains a series of theories and problems, each associated with multiple-choice answers and numerical data. It appears to be an assessment or examination format, with various sections for theories and corresponding problems. The data includes specific values, dates, and references to financial figures, possibly related to taxation or accounting.

Uploaded by

dziyapit
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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THEORIES

1C 11 D 21 C 31 A 41 D 51 C 61 B 71
2A 12 B 22 B 32 B 42 C 52 B 62 B 72
3D 13 B 23 C 33 C 43 A 53 B 63 A 73
4D 14 A 24 D 34 D 44 B 54 B 64 D 74
5B 15 D 25 A 35 D 45 A 55 B 65 C 75
6B 16 D 26 A 36 D 46 B 56 B 66 D 76
7B 17 C 27 B 37 C 47 B 57 C 67 D 77
8C 18 B 28 C 38 D 48 C 58 A 68 A 78
9D 19 A 29 B 39 A 49 A 59 D 69 C 79
10 None 20 D 30 C 40 C 50 C 60 A 70 B 80
C 81 C
A 82 C
C 83 D
D 84 C
C 85 B
D
D
C
B
B
THEORIES PROBLEMS
1A 11 D 21 C 1 AA 11 DDD
2A 12 B 22 D 2 BA 12 A
3D 13 A 23 C 3 CDB 13 DB
4C 14 B 24 D 4A
5A 15 D 5 CDD
6D 16 C 6 SKIP
7A 17 A 7 ABC
8A 18 D 8 AAA
9A 19 D 9 DBB
10 D 20 D 10 C; 5750; B
THEORIES PROBLEMS
1D 11 C 21 C 1.1. 3,500,000 6 80,000 12.1.
2B 12 D 22 A & C 1.2. 25,000,000 7 4,625,000 12.2.
3A 13 D 23 B 2.1. 37,500,000 8 2020: 12,500 12.3.
4D 14 B 24 D 3 1,000,000 2021: 1,280,000 12.4.
5C 15 D 25 A 4.1. 1,117,500 RCIT 2022: 3,987,500
6C 16 D 4.2. 675,000 RCIT 2023: 506,250 14.1.
7C 17 A 4.3. 925,000 FWT 9.1. 1,000,000 14.2.
8 OI,OI,FWT 18 A 4.4. 894,000 RCIT 9.2. 0 - exempt 14.3.
9D 19 B 4.5. 895,500 RCIT 10 200,000 14.4.
10 D 20 C 5 2021: 900,000 11 500,000 14.5.
2022: 1,375,000
2023; 105,000
2024: 195,000
PROBLEMS ADDITIONAL EXERCISES
12.1. 189,750,000 14.6. 1,000,000 1 Q1: 14700
12.2. 12,600,000 14.7. 180,000 Q2: 20200
12.3. 189,750,000 14.8. 300,000 Q3: 41600
12.4. 178,250,000,000 14.9. 150,000 Q4: 51600
13 32,291,667.50 14.10. 0 = exempt 2 410,000
14.1. 537,500 14.11. 225,000 3 22,500 refundable
14.2. 650,000 4.1. 493,750
14.3. 375,000 4.2. 15,000
14.4. 1,000,000 4.3. 480,000
14.5. 100,000
THEORIES PROBLEMS
1A 11 B 1.1.A 1,700,000 2.2 C 6B 8.3
2C 12 D 1.1.B 0 = exempt 2.3 A 7.1 A: 1,250,000 9
3C 13 A 1.1.C A: 340,000 2.4 C B: 1,625,000
4D 14 D B: 325,000 3.1 16,725,000 7.2 A: 1,250,000
5B 15 B 1.2.A A: 637,500 3.2 4,181,250 B: 1,625,000
6D 16 A B: 637,500 3.3 3,262,500 7.3 A: 500,000
7A 17 B 1.2.B 425,000 4.A 0 B: 875,000
8D 18 D 1.2.C A: 92,500 4.B A: 750,000 8.1 0
9A 19 B B: 80,000 B: 650,000 8.2 X: 750,000
10 A 2.1 A 5C Y: 675,000
750,000
C
THEORIES PROBLEMS
1C 11 A 1.1 ESTATE: 80,000 4.2 TRUST: 20,000,000
2A 12 B X: 130,000 Y: 20,000,000
3D 13 D Y: 92,500 5.1 C
4A 14 B 1.2 ESTATE: 0 5.2 A
5A 15 C X: 220,000 5.3 D
6B 16 B Y: 175,000
7C 17 D 2B
8A 18 D 3B
9D 19 C 4.1 TRUST: 0
10 C Y: 20,000,000
THEORIES PROBLEMS
1D 11 B 21 A 31 B 1B 8.2
2D 12 C 22 B 32 A 2C 8.3
3D 13 B 23 A 33 C 3.1 46,000 8.4
4B 14 D 24 C 34 D 3.2 30,000
5D 15 D 25 C 35 D 4A 9
6B 16 B 26 C 36 C 5D 10.1
7B 17 D 27 D 37 D 6.1 D 10.2
8B 18 B 28 B 6.2 D 10.3
9C 19 D 29 A 7D 10.4
10 B 20 D 30 D 8.1 480,000 11.1
PROBLEMS
0 11.2 C
120,000 12 790,000
Spread-out: 600,000 13.1 A
Outright: 2,480,000 13.2 105,000
B 13.3 B
A
A
C
A
A
THEORIES PROBLEMS
1A 11 B 21 D 31 D 1A 7.3 960,000
2B 12 D 22 C 32 D 2.1 B 8C
3B 13 C 23 A 33 D 2.2 C 9D
4C 14 D 24 D 34 D 3.1 B 10 1,069,000
5C 15 D 25 D 35 B 3.2 C 10 187,125
6D 16 D 26 D 36 B 4 259,000 11 51,000,000
7C 17 D 27 A 37 B 5A 12 20,625,000
8A 18 C 28 D 38 B 6B 13 500,000
9C 19 D 29 None of the above 7.1 1,660,000 14 20,633,125
10 A 20 C 30 D 7.2 1,380,000
THEORIES PROBLEMS
1D 11 C 1.1 D 3.2 5,250,000 6.2
2B 12 D 1.2 6,550,000 3.3 2,800,000 6.3
3D 13 C 1.3 B 3.4 137,308 7
4A 14 D 1.4 Fringe Benefits Exp 6,550,000 4.1 323,077 8
5D 15 A Fringe Benefits Tax 1,373,077 4.2 323,077
6B Cash 6,550,000 4.3 1,615,385
7 FFT FBT Payable 1,373,077 4.4 646,154
8C 2.1 B 5.1 C
9B 2.2 A 5.2 D
10 C 3.1 123,357 6.1 D
C
D
B
A
THEORIES PROBLEMS
1D 11 B 1.1 192,000 5.1 B 9B
2D 12 C 1.2 174,000 5.2 B 10 1,200,000
3A 13 D 1.3 450,000 5.3 C 11.1 2,000 gain
4B 14 B 1.4.1 192,000 6.1 D 11.2 3,000 loss
5D 15 C 1.4.2 168,000 6.2 A 11.3 1,000 gain
6B 16 D 2.1 24,000 refundable 7.1 B 11.4 2,000 loss
7C 17 D 2.2 18,000 refundable 7.2 B 11.5 2,000 loss
8A 3B 7.3 B 11.6 9,000 gain
9C 4 2020: 1,100,000 8.1 C
10 A 2021: 1,391,500 8.2 D
THEORIES PROBLEMS
1D 1.1 B 5B
2B 1.2 D 6 Land 1: 8,100
3B 1.3 C Land 2: 13,608
4B 2.1 C Land 3: 32,400
5C 2.2 C Land 4: 97,200
6D 2.3 D TOTAL: 151,308
7A 3.1 B
8B 3.2 C
9A 3.3 C
4D
THEORIES PROBLEMS
1B 11 B 21 C 1.1 B
2D 12 C 22 B 1.2 C
3B 13 B 23 C 1.3 11,250,500
4C 14 B 24 C 2 Mr. X Mrs. X
5A 15 D 25 D Jan 15, 2020: 16,500 16,500
6C 16 B 26 B March 15, 2020: 60,000 -
7C 17 B 27 B June 15, 2020: - 42,000
8A 18 B 28 C Nov. 15, 2020: 36,000 36,000
9B 19 D 29 D June 15, 2021: 43,500 43,500
10 C 20 D 30 A Sept. 15, 2021: 96,000 96,000
3B
4 19,392
THEORIES PROBLEMS
1A 11 D 21 D 31 D 1.1 A 5.2 145,110
2A 12 B 22 D 32 C 1.2 B 6C
3C 13 C 23 C 33 C 1.3 C
4C 14 B 24 D 34 B 2.1 9,900,000
5D 15 C 25 C 35 C 2.2 594,000
6A 16 D 26 B 36 D 2.3 23,551,000
7D 17 D 27 A 3.1 325,000
8C 18 A 28 D 3.2 300,000
9C 19 D 29 D 4 1,966,058
10 B or D 20 B 30 D 5.1 127,771
THEORIES PROBLEMS
1C 11 B 21 A 31 D 1A 5.2 D
2C 12 D 22 After 1/1/21: C 32 B 2D 5.3 A
3B 13 A 23 D 33 B 3.1 A 6 90,328
4B 14 C 24 A 34 B 3.2 B 7.1 A
5C 15 D 25 B 3.3 C 7.2 A
6D 16 D 26 D 4.1 96,000 7.3 B
7A 17 D 27 A 4.2 3,200 8 36,636
8B 18 C 28 B 4.3 8,700 9.1 C
9D 19 A 29 B 4.4 108,600 9.2 B
10 A; C 20 B 30 C 5.1 D 9.3 225,000
BLEMS
9.4 C
10.1 B
10.2 A
10.3 C
THEORIES PROBLEMS
1B 11 D 1.1 2,200 5.2 D 9.2 A
2B 12 D 1.2 22,800 6.1 75,000 OPT 10.1 A
3C 13 D 2.1 4,400 6.2 50,000 OPT 10.2 B
4A 14 C 2.2 D 6.3 216,000 VAT 11.1 D
5A 15 C 2.3 D 6.4.1 300,000 VAT 11.2 1,400 OPT
6A 16 D 3.1 2,100 6.4.2 360,000 OPT 11.3 117,000
7D 17 D 3.2 3,600 7.1 B 11.4 A
8D 18 D 4.1 25,500 7.2 A 12.1 87,500
9C 19 A 4.2 60,000 8B 12.2 41,400
10 A 5.1 120,000 CCT 9.1 C 13.1 B
LEMS
13.2 A
Before Bayanihan Act II After
14.1 125,000 0
14.2 225,000 0
14.3 0 0
14.4 20,250 20,250
THEORIES & PROBLEMS
1A 6.3 10,000
2B 6.4 5,000
3.1 1,350,000 7A
3.2 1,770,000
3.3 1,274,400
4B
5.1 C
5.2 C
6.1 50,000
6.2 750
THEORIES & PROBLEMS
1D 11 C 21 D 31 D 41 C
2D 12 D 22 C 32 D 42 D
3D 13 C 23 B 33 B 43 D
4D 14 C 24 CAC 34 D 44 BBB
5B 15 C 25 BBC 35 C 45 A
6B 16 B 26 D 36 D
7D 17 C 27 C 37 B
8D 18 D 28 D 38 A
9C 19 D 29 C 39 A
10 D 20 C 30 A 40 B
THEORIES & PROBLEMS
1D 11 DB 21 D 31 B 41 A
2 AD 12 B 22 B 32 D 42 D
3C 13 D 23 C 33 D 43 C
4 CD 14 C 24 C 34 D 44 D
5B 15 B 25 C 35 D 45 D
6D 16 D 26 C 36 D 46 D
7C 17 C 27 B 37 D 47 D
8C 18 D 28 A 38 DB 48 D
9B 19 A 29 D 39 C 49 C
10 CDD 20 B 30 A 40 B
THEORIES & PROBLEMS
1D 11 B 21 A 31 B
2D 12 B 22 B 32 B
3A 13 C 23 C 33 C
4D 14 C 24 D 34 D
5D 15 B 25 C 35 D
6B 16 C 26 DB 36 D
7D 17 A 27 CA 37 D
8D 18 B 28 A 38 A
9C 19 CDA 29 AC
10 C 20 CA 30 D

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