1. Taxpayer is a non-stock and non-prodit educational institution. It has been granted with a Certificate of Tax Exemption. Compute for the taxable income given the financial date this taxable period (2021): Related Activities Unrelated Activities Gross Income P35, 000, 000 5, 000, 000 Expenses 10, 000, 000 1, 000, 000 Net 25, 000, 000 4, 000, 000
1. Taxpayer is a non-stock and non-prodit educational institution. It has been granted with a Certificate of Tax Exemption. Compute for the taxable income given the financial date this taxable period (2021): Related Activities Unrelated Activities Gross Income P35, 000, 000 5, 000, 000 Expenses 10, 000, 000 1, 000, 000 Net 25, 000, 000 4, 000, 000
Chapter14: Property Transactions: Capital Gains And Losses, § 1231, And Recapture Provisions
Section: Chapter Questions
Problem 67P
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1. Taxpayer is a non-stock and non-prodit educational institution. It has been granted with a Certificate of Tax Exemption. Compute for the taxable income given the financial date this taxable period (2021):
Related Activities | Unrelated Activities | |
Gross Income | P35, 000, 000 | 5, 000, 000 |
Expenses | 10, 000, 000 | 1, 000, 000 |
Net | 25, 000, 000 | 4, 000, 000 |
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