17 ABC Corp., a pharmaceutical company registered in 2020 had made available the following financial information for TY2021: Balance Sheet: Asset - Php 500,000 Liability - Php 100,000 Stockholders' Equity - Php 400,000 Income Statement: Gross sales - Php 5,000,000,000 Cost of sales – Php 4,000,000,000 Operating Expenses - Php 500,000,000 How much is the income tax due under CREATE Law? Group of answer choices Php 125,000,000 Php 150,000,000 Php 10,000,000 Php 100,000,000
17 ABC Corp., a pharmaceutical company registered in 2020 had made available the following financial information for TY2021: Balance Sheet: Asset - Php 500,000 Liability - Php 100,000 Stockholders' Equity - Php 400,000 Income Statement: Gross sales - Php 5,000,000,000 Cost of sales – Php 4,000,000,000 Operating Expenses - Php 500,000,000 How much is the income tax due under CREATE Law? Group of answer choices Php 125,000,000 Php 150,000,000 Php 10,000,000 Php 100,000,000
Chapter12: Tax Credits And Payments
Section: Chapter Questions
Problem 23P
Related questions
Question
17
ABC Corp., a pharmaceutical company registered in 2020 had made available the following financial information for TY2021:
Balance Sheet:
Asset - Php 500,000
Liability - Php 100,000
Income Statement:
Gross sales - Php 5,000,000,000
Cost of sales – Php 4,000,000,000
Operating Expenses - Php 500,000,000
How much is the income tax due under CREATE Law?
Group of answer choices
Php 125,000,000
Php 150,000,000
Php 10,000,000
Php 100,000,000
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