FACTS / DATA / GIVEN: . Тахрауer: • Taxable period: Domestic Corporation 2021 Description Gross sales Other operating income Non-operating income Cost of sales Operating expenses Non-operating expenses Amount P2,500,000 200,000 100,000 1,000,000 500,000 50.000 COMPUTE: 2021 net taxable income using ITEMIZED deductions A. 1,150,000 B. 1,200,000 C. 1,250,000 D. 1,300,000
FACTS / DATA / GIVEN: . Тахрауer: • Taxable period: Domestic Corporation 2021 Description Gross sales Other operating income Non-operating income Cost of sales Operating expenses Non-operating expenses Amount P2,500,000 200,000 100,000 1,000,000 500,000 50.000 COMPUTE: 2021 net taxable income using ITEMIZED deductions A. 1,150,000 B. 1,200,000 C. 1,250,000 D. 1,300,000
SWFT Essntl Tax Individ/Bus Entities 2020
23rd Edition
ISBN:9780357391266
Author:Nellen
Publisher:Nellen
Chapter16: Multijurisdictional Taxation
Section: Chapter Questions
Problem 1BCRQ
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Question
Transcribed Image Text:FACTS / DATA / GIVEN:
. Тахрауer:
Taxable period:
Domestic Corporation
2021
Description
Gross sales
Other operating income
Non-operating income
Cost of sales
Operating expenses
Non-operating expenses
Amount
P2,500,000
200,000
100,000
1,000,000
500,000
50.000
COMPUTE: 2021 net taxable income using ITEMIZED deductions
A. 1,150,000
B. 1,200,000
О С. 1,250,000
D. 1,300,000
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