Question
A non-stock, non-profit charitable entity received the following during 2019: Contributions from the public P 1,400,000 Income from the sale of merchandise 500,000 Gain on
A non-stock, non-profit charitable entity received the following during 2019:
Contributions from the public
P
1,400,000
Income from the sale of merchandise
500,000
Gain on the sale of properties
300,000
What is the total exclusion from gross income subject to regular tax?
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Auditing Cases An Active Learning Approach
Authors: Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt
2nd Edition
9781266566899
