6 raymund exchanged his a company shares pursuant to

6. Raymund exchanged his A Company shares pursuant to a plan of
consolidation where A Company will be integrated with B Company.
The following relates to the exchange.
Basis of A Company shares given P1,200,000
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lOMoARcPSD|9787481

Fair value of A Company shares given 1,300,000
Fair value of B Company shares received 1,100,000
Fair value of other properties received 250,000
Compute the capital gains tax.
lOMoARcPSD|9787481
7. What is the tax basis of the B Company received by Raymund?
8. What is the basis of the “boot” or the other properties received by
Raymund?
9. What is the basis of the A Company shares received by B Company?
a. P0 c. P1,200,000
b. P1,100,000 d. P1,350,000
10. Mrs. Joson sold a residential lot in June 1,2019 for P2,000,000.
The property had a zonal value of P2,500,000 an d a Assessor’s
market value of P1,000,000.
On July 1, 2020, Mrs. Joson was compelled to pay the capital gains
upon the request of the buyer. The compromise penalty was
determined to be P20,000.
Compute the total tax due.
11. Basic Company paid P9,000 documentary stamp tax on the sale of a
real property capital asset. Compute the capital gains tax on the
sale.
12. Mr. Bassit Unay sold a residential land P4,000,000. The land had
a fair value of P3,500,000 and an Assessor’s fair value of
P2,000,000. What is the total income tax and documentary stamp tax
due?
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