The following are the some of the income payments of Treble Company, a domestic corporation, during the third quarter: • July 16 - Paid P150,000 passive royalties to a resident foreign corporation. The amount is gross of tax. • July 27 - The grand winner of its Midyear Pabuenas Raffle Promo cash out her P80,000 winnings, net of final tax. • August 17 - Paid the rentals for the use of a vessel owned by a non-resident lessor, P200,000 (gross of final tax). • August 31 - Hosted a competition where the grand prize for the winner was P50,000. • September 8 - Incurred and paid P250,000 to oil exploration service contractors. • September 30 - Declared and paid dividends to the following: P85,000 to resident citizens, P56,000 to resident aliens, P20,000 to non-resident aliens engaged in trade and P164,000 to domestic corporations. On the Form 1601FQ for the taxable quarter, what amount is applicable to?
The following are the some of the income payments of Treble Company, a domestic corporation, during the third quarter: • July 16 - Paid P150,000 passive royalties to a resident foreign corporation. The amount is gross of tax. • July 27 - The grand winner of its Midyear Pabuenas Raffle Promo cash out her P80,000 winnings, net of final tax. • August 17 - Paid the rentals for the use of a vessel owned by a non-resident lessor, P200,000 (gross of final tax). • August 31 - Hosted a competition where the grand prize for the winner was P50,000. • September 8 - Incurred and paid P250,000 to oil exploration service contractors. • September 30 - Declared and paid dividends to the following: P85,000 to resident citizens, P56,000 to resident aliens, P20,000 to non-resident aliens engaged in trade and P164,000 to domestic corporations. On the Form 1601FQ for the taxable quarter, what amount is applicable to?
Chapter16: Accounting Periods And Methods
Section: Chapter Questions
Problem 3DQ
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The following are the some of the income payments of Treble Company, a domestic corporation, during the third quarter:
• July 16 - Paid P150,000 passive royalties to a resident foreign corporation. The amount is gross of tax.
• July 27 - The grand winner of its Midyear Pabuenas Raffle Promo cash out her P80,000 winnings, net of final tax.
• August 17 - Paid the rentals for the use of a vessel owned by a non-resident lessor, P200,000 (gross of final tax).
• August 31 - Hosted a competition where the grand prize for the winner was P50,000.
• September 8 - Incurred and paid P250,000 to oil exploration service contractors.
• September 30 - Declared and paid dividends to the following: P85,000 to resident citizens, P56,000 to resident aliens, P20,000 to non-resident aliens engaged in trade and P164,000 to domestic corporations.
On the Form 1601FQ for the taxable quarter, what amount is applicable to?
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