35. A domestic corporation has the following income and expenses for 2021 taxable year: Gross sales P20,000,000 Cost of sales 10,000,000 Operating expenses Assets How much is the income tax due? a. P1,240,000 b. P1,550,000 Gross sales Cost of sales Operating expenses 3,800,000 48,0000,000 36. ABC Corporation, a domestic corporation has the following income and expenses for 2021 taxable year: How much is the income tax due? a. P600,000 b. P700,000 c. P1,860,000 d. P3,000,000 P20,000,000 10,000,000 6,500,000 c. P800,000 d. P875,000
35. A domestic corporation has the following income and expenses for 2021 taxable year: Gross sales P20,000,000 Cost of sales 10,000,000 Operating expenses Assets How much is the income tax due? a. P1,240,000 b. P1,550,000 Gross sales Cost of sales Operating expenses 3,800,000 48,0000,000 36. ABC Corporation, a domestic corporation has the following income and expenses for 2021 taxable year: How much is the income tax due? a. P600,000 b. P700,000 c. P1,860,000 d. P3,000,000 P20,000,000 10,000,000 6,500,000 c. P800,000 d. P875,000
Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter6: Accounting For Financial Management
Section: Chapter Questions
Problem 9MC: Assume that a corporation has $100,000 of taxable income from operations plus $5,000 of interest...
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