Dennis and Company, a business partnership, in their 1st year of operation had the following data of income and expenses for the taxable year 2020: (in pesos) Gross Income 750,000 Expenses 200,000 Dividend from a domestic corporation 75,000 Interest on Bank deposit (gross of tax) 10,000 Partners Dennis and Ariel share profits and losses in the ration of 55% and 45% respectively. How much is the income tax due and payable of the partnership
Dennis and Company, a business partnership, in their 1st year of operation had the following data of income and expenses for the taxable year 2020: (in pesos) Gross Income 750,000 Expenses 200,000 Dividend from a domestic corporation 75,000 Interest on Bank deposit (gross of tax) 10,000 Partners Dennis and Ariel share profits and losses in the ration of 55% and 45% respectively. How much is the income tax due and payable of the partnership
Chapter17: Corporations: Introduction And Operating Rules
Section: Chapter Questions
Problem 48P
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Dennis and Company, a business
Gross Income 750,000
Expenses 200,000
Dividend from a domestic corporation 75,000
Interest on Bank deposit (gross of tax) 10,000
Partners Dennis and Ariel share
How much is the income tax due and payable of the partnership?
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