The Review School of Accountancy

TAXATION First Pre-Board Examination

February 7, 2016

SUPPORTING COMPUTATIONS
5. D
6. B
Exclusive Conjugal
Properties inherited by decedent before the marriage P5,000,000 -
Properties received as donation by the surviving wife before marriage - -
Properties inherited by decedent during the marriage 1,000,000 -
Income received during the marriage from the properties inherited by the - 100,000
decedent before the marriage
Income from properties inherited by the decedent during the marriage - 200,000
Properties acquired before the marriage by the decedent who had legitimate 500,000 -
descendants by a former marriage
Properties acquired during the marriage - 2,000,000
Total P6,500,000 P2,300,000

7. C
Mourning apparel of the surviving spouse and unmarried minor children of the deceased bought P20,000
and used on the occasion of the burial
Publication charges for death notices published on December 12, 2014 10,000
Value corresponding to the plot where he is buried in 50,000
Total P90,000

8. C
Total actual funeral expenses P80,000
Limit (5% x 1,000,000) 50,000
Allowed (lower) P50,000

9. B
Total actual funeral expenses P 80,000
Limit (5% x 2,000,000) 100,000
Allowed (lower) P 80,000

19. C
Cash received for buildings completed on January 2015 P3,800,000
Cash advances received for building to be constructed on February, 2015 300,000
Cash received from owners of building for materials charged with the services 1,000,000
Gross receipts for the month P5,100,000

20. C
Gross receipts for the month P5, 100,000
Tax rate 12%
Output tax P 612,000

22. B
Rent of 160 residential units at P12,800 per unit P2,048,000
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