"Easy lang ito" Corporation provided the following data for the calendar year ending December 31, 2012. ($1=P50) (See image) If it is a resident foreign corporation, its income tax is *
"Easy lang ito" Corporation provided the following data for the calendar year ending December 31, 2012. ($1=P50) (See image) If it is a resident foreign corporation, its income tax is *
Chapter17: Corporations: Introduction And Operating Rules
Section: Chapter Questions
Problem 26CE
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Transcribed Image Text:"Easy lang ito" Corporation provided the following data for the calendar
year ending December 31, 2012. ($1=P50) (See image) If it is a resident
foreign corporation, its income tax is *
Philippines
P4,000,000
P2,500,000
Abroad
$40,000
$15,000
$3,000
Gross Income
Deductions
Income tax paid
a. P730,000
b. P450,000
c. P480,000
d. P525,000
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