During 2020, Alpha Company fully recovered the write-offs made during 2017 worth P100,000. The following are the net income/(loss) before write-offs are P60,000 for 2017, P20,000 for 2018, P5,000 for 2019 and (P20,000) for 2020. How much is the taxable income for 2020?
During 2020, Alpha Company fully recovered the write-offs made during 2017 worth P100,000. The following are the net income/(loss) before write-offs are P60,000 for 2017, P20,000 for 2018, P5,000 for 2019 and (P20,000) for 2020. How much is the taxable income for 2020?
Chapter11: The Corporate Income Tax
Section: Chapter Questions
Problem 5MCQ
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During 2020, Alpha Company fully recovered the write-offs made during 2017 worth P100,000. The following are the net income/(loss) before write-offs are P60,000 for 2017, P20,000 for 2018, P5,000 for 2019 and (P20,000) for 2020. | |||||||||
How much is the taxable income for 2020? |
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