B Fill in the blanks: La Pagayo Corporation commenced business operations in calendar year 2001. It is subject to MCIT beginning 2005. Income taxes during the years from 2005 to 2 Normal Corporate Minimum Corporate Year Income Tax Excess of MCIT over NCIT Income Tax 2005 P25,000 P100,000 P75,000 2006 130,000 150.000 20,000 2007 200,000 190,000 0 2008 0 300,000 300,000 2009 10,000 50,000 40,000 2010 15,000 60,000 45,000 8,000 2011 32000 40,000 49,000 50 000 1,000 2012 REQUIRED: Determine Income Tax still due and payable for the 2005 to 2012 Income tax still due and payable for 2006 is 2 Income tax still due and payable for 2008 is B income tax still due and payable for 2011 s NOTETATS ers are in numerical form, COMMA PESC BIG endommer characters are NOT REQUIRED Task View O 8: hn
B Fill in the blanks: La Pagayo Corporation commenced business operations in calendar year 2001. It is subject to MCIT beginning 2005. Income taxes during the years from 2005 to 2 Normal Corporate Minimum Corporate Year Income Tax Excess of MCIT over NCIT Income Tax 2005 P25,000 P100,000 P75,000 2006 130,000 150.000 20,000 2007 200,000 190,000 0 2008 0 300,000 300,000 2009 10,000 50,000 40,000 2010 15,000 60,000 45,000 8,000 2011 32000 40,000 49,000 50 000 1,000 2012 REQUIRED: Determine Income Tax still due and payable for the 2005 to 2012 Income tax still due and payable for 2006 is 2 Income tax still due and payable for 2008 is B income tax still due and payable for 2011 s NOTETATS ers are in numerical form, COMMA PESC BIG endommer characters are NOT REQUIRED Task View O 8: hn
Chapter2: The Domestic And International Financial Marketplace
Section2.A: Taxes
Problem 2P
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La Pagayo Corporation commenced business operations in calendar year 2001. It is subject to MCIT beginning 2005. Income taxes during the years from 2005 to 2012 are as follow
S
Normal Corporate Minimum Corporate
Year
Excess of MCIT over NCIT
Income Tax
Income Tax
2005
P25,000
P100,000
P75,000
2006
130,000
150,000
20,000
2007
200,000
190,000
0
2008
0
300,000
300,000
2009
10,000
50,000
40,000
15,000
2010
45,000
60,000
40,000
8,000
32000
2011
50.000
1,000
49,000
2012
REQUIRED: Determine Income Tax still due and payable for the 2005 to 2012
Income tax still due and payable for 2006 is
2 Income tax still due and payable for 2008 is
2 income tax still due and payable for 2011 is
27°C Most
lotta tré ers are in numerical form, COMMA PESO Big and other characters are NOT REQUIRED.
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