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Problem 5 (to be submitted on December 11, 5PM at the Accountancy Department):

Prepare BIR Income Tax Return for CHRISTMAS Corporation, a domestic corporation,
for the taxable year 2013.

Name of taxpayer: Christmas Corporation


Address: 970 Vito Cruz St., Malate, Manila 1004
Taxpayer’s Identification Number (TIN): 312-758-612
Revenue District Office (RDO): 033
Telephone number: 544-8340
Date of incorporation: January 1, 2012
Method of accounting: Accrual (PFRS)
Method of deduction: Itemized

Information on Freedom Corporation operation:

Sales P11,000,000
Cost of sales 6,500,000
Operating expenses:
Salaries 1,000,000
Travel expenses – business related 50,000
Light and water 8,000
Depreciation 300,000
Office rent 120,000
Bad debts written off 40,000
Supplies (used) 160,000
Advertising 50,000
Interest expense 120,000
Representation expense 200,000
Contributions exclusively for religious purposes 185,800
Assistance to Manila Science High School for a
program in partnership with Department of Education
(DepEd) 100,000
Other revenues:
Interest income, net of tax 66,000
Cash dividend (domestic) 132,000
Other losses:
Losses on investment in securities 300,000

***END OF QUIZ 6***

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K31 grouping

1. ADAO, ALICBUSAN, CO KALVIN


2. CO SHANDY, ENANOZA, GABRIEL
3. GAVINIO, GUERRERO, GUTIERREZ
4. KUNG, LABRO, LIM PAOLO
5. LIM PERRY, MADAMBA, MADUCDOC
6. MARTIN, PERNITES, REYES
7. SALAMANCA, SY HARLY, SY SHARMAINE
8. TAN NICOLAS, TAN NIKKI, VALDIVIESO
9. VERGARA, VIDAL, VILLADOLID
10. WAKAI, WU

K32 grouping

1. ABILO, AURELIO, BALT


2. BARRETTO, BOLANOS, BONDOC
3. BORRETA, BRUZON, CAI
4. CARMONA, CHUA, CO STEVEN
5. CO VINCI, DICHAVES, GOMEZ ADRIAN
6. GOMEZ JASON, GONZALES, JAMIAS
7. LIBUNAO, MOLANO, MONTECLARO
8. NG, ONG, PABLO
9. PASION, RASE, REYES
10. RIVERA, SAMSON, SANTOS
11. SEBOLLENA, TALLEDO, TAN EUNICE
12. TAN REYNALD, TANHUI, TIU
13. VILLACAMPA, YU, ZAMBALES

K33 grouping

1. ANG, ARVESU, ASILO


2. AURELIA, BASQUINAS, CALANOG
3. CARMONA, CHIU, CHUA TAY
4. CHUABIO, CONCEPCION, CORTEZ
5. CRUZ, DEL ROSARIO, DELOS REYES
6. DURAL, GUINTO, JUAN
7. LEE, LIM CATHERINE, LIM KAREN
8. LIMQUECO, LOPIDO, MAGISTRADO
9. MANARIN, MESINA, ORRO
10. ORTIZ, PUERTO, RACELIS
11. RAMIREZ, RAZON, RUIZ
12. SALIMBAO, SANTOS, SARTE
13. SEBASTIAN, TENG, TING
14. TOBILLO, URSUA,VIADO
15. VIRATA, YAP, YU, SERRANO

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