Question
A Corporation engaged in business in the Philippines and abroad has the following data in 2020: Gross income, Philippines P957,000 Expenses, Philippines 750,000 Gross income,
A Corporation engaged in business in the Philippines and abroad has the following data in 2020:
Gross income, Philippines P957,000
Expenses, Philippines 750,000
Gross income, USA 770,000
Expenses, USA 630,000
Interest on the bank deposit 25,000
Income tax due of the corporation is:
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Financial & Managerial Accounting
Authors: Carl Warren
12th Edition
1285534646, 978-1133952428
