15 ABC Corp. registered in 2010 made available the following financial information for TY2021: Balance Sheet: Asset - Php 50,000,000 Liability - Php 30,000,000 Stockholders' Equity - Php 20,000,000 Income Statement: Gross sales - Php 100,000,000 Cost of sales – Php 60,000,000 Operating Expenses - Php 50,000,000 How much is the income tax payable under CREATE if the taxpayer is a domestic corporation? Group of answer choices Php 0 Php 2,500,000 Php 800,000 Php 400,000
15 ABC Corp. registered in 2010 made available the following financial information for TY2021: Balance Sheet: Asset - Php 50,000,000 Liability - Php 30,000,000 Stockholders' Equity - Php 20,000,000 Income Statement: Gross sales - Php 100,000,000 Cost of sales – Php 60,000,000 Operating Expenses - Php 50,000,000 How much is the income tax payable under CREATE if the taxpayer is a domestic corporation? Group of answer choices Php 0 Php 2,500,000 Php 800,000 Php 400,000
Chapter17: Corporations: Introduction And Operating Rules
Section: Chapter Questions
Problem 26CE
Related questions
Question
15 ABC Corp. registered in 2010 made available the following financial information for TY2021:
Balance Sheet:
Asset - Php 50,000,000
Liability - Php 30,000,000
Income Statement:
Gross sales - Php 100,000,000
Cost of sales – Php 60,000,000
Operating Expenses - Php 50,000,000
How much is the income tax payable under CREATE if the taxpayer is a domestic corporation?
Group of answer choices
Php 0
Php 2,500,000
Php 800,000
Php 400,000
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