Z Corporation paid P 136, 000 cash fringe benefit for the year 2019 representing 80 % of the car incentive for its area manager. Z remitted the related final tax of the said cash fringe benefit. The amount to be claimed as business deduction form business income is: * a. P 170, 000 b. P 200, 000 c. P 136, 000 d. P 108, 800 e. Answer not given
Z Corporation paid P 136, 000 cash fringe benefit for the year 2019 representing 80 % of the car incentive for its area manager. Z remitted the related final tax of the said cash fringe benefit. The amount to be claimed as business deduction form business income is: * a. P 170, 000 b. P 200, 000 c. P 136, 000 d. P 108, 800 e. Answer not given
Chapter12: Tax Credits And Payments
Section: Chapter Questions
Problem 23P
Related questions
Question
Z Corporation paid P 136, 000 cash
a. P 170, 000
b. P 200, 000
c. P 136, 000
d. P 108, 800
e. Answer not given
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Individual Income Taxes
Accounting
ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT