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Opt Review Questions 1 PDF
Opt Review Questions 1 PDF
Opt Review Questions 1 PDF
3) Dayoc Airways Inc. a resident foreign corporation has following collections for the month of May
2019:
Passengers airfare from China to PH 1,800,000
Passengers airfare from PH to China 1,500,000
Airfare for Cargoes from China 700,000
Airfare for cargoes from PH to China 1,300,000
How much is the common carrier’s tax payable for the month?
A. 60,000
B. 39,000
C. 84,000
D. 159,000
2014 9,000,000
2015 12,000,000
2014 2015
A. 270,000 360,000
B. 1,080,000 1,440,000
C. 270,000 1,440,000
D. 1,080,000 360,000
5) Meralco is a holder of franchise to sell electricity. It also leases its first class auditorium and
theatre. In a particular month, its gross receipts from sale of electricity amounted to
P10,000,000. The gross receipts from the lease of its auditorium and theatre amounted to
2,000,000. How much is the franchise tax due for the month?
A. 1,440,000
B. 1,200,000
C. 300,000
D. Zero
6) Melinda Cellular Inc. has the following collections for the month of April 2014:
Overseas call originating abroad 1,120,000
Overseas call originating in the PH 880,000
Local calls 2,240,000
How much is the communication tax to be remitted by Moon for the Month?
A. 220,000
B. 88,000
C. 200,000
D. 80,000
A. 94,437.50
B. 39,375.00
C. 78,750.00
D. 196,875.00
9) One of the following is subject to amusement tax on gross receipts
A. Owners of winning racehorses
B. Proprietors of karaoke and KTV houses
C. Owners of winning cocks in the cockpits
D. Lessees of bowling alleys
10) Jumar operates a cockpit in Bacolod City. Inside the cockpit is a restaurant which he also
operates. The data during the month are presented below:
Receipts from Entrance fee 780,000
Gross receipts from restaurant:
o Sale of food and beverages 42,000
o Sale of wines and liquors 66,000
Expenses 444,000
A. 79,920
B. 159,840
C. 143,640
D. 140,400
11) Based on the preceding number, suppose the restaurant is owned and operated by Far Han, a
non-vat registered person, the percentage tax payable is:
A. 3,240
B. 159,840
C. 19,440
D. 79,920
12) Continuing the above problem, the percentage tax due on Jumar is:
A. 79,920
B. 159,840
C. 143,640
D. 140,400
13) Len Ei a KPOP fan, operates a coliseum. During the month it had the following gross receipts
from various activities:
Concert by Blackpink 1,170,000
Professional Basketball Game 1,240,000
Boxing Exhibition 1,780,000
Note: The boxing exhibition is a world championship fight between Mayweather and Rogelio Jr.,
an American versus Filipino fighter. The fight is promoted by Bob Arum, an American Citizen.
A. 186,000
B. 364,000
C. 178,000
D. Nil
Cockfighting 90,000
PCSO lotto 2,000,000
PAGCOR 1,000,000
Horse racing winnings 100,000
Cost of tickets( 1,000 pertains to winning tickets) 30,000
Billiard losses (400,000)
Casino Losses (300,000)
a. 9,900
b. 18,900
c. 249,000
d. 319,000
Mang Jose had the following records of his horse races in the month of May
a. 45,000
b. 48,500
c. 39,000 (pag bettor ka)
d. 57,500 (pag owner ka)