A domestic corporation, adopted a public elementary school and contributed P500,000 for the acquisition of computer equipment and software. The corporation has an operating income of P1,000,000 before this contribution expense. Compute the corporations’ net income, if the “adopt-a school project” is no longer a government priority program.

A domestic corporation, adopted a public elementary school and contributed P500,000 for the acquisition of computer equipment and software. The corporation has an operating income of P1,000,000 before this contribution expense. Compute the corporations’ net income, if the “adopt-a school project” is no longer a government priority program.

SWFT Corp Partner Estates Trusts

42nd Edition

ISBN:9780357161548

Author:Raabe

Publisher:Raabe

Chapter15: Exempt Entities

Section: Chapter Questions

Problem 20P

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