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A resident foreign corporation has the following income and expenses for 2021 taxable year: 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Gross sales P1,000,000
A resident foreign corporation has the following income and expenses for 2021 taxable year:
| 1st Quarter | 2nd Quarter | 3rd Quarter | 4th Quarter | |
| Gross sales | P1,000,000 | P1,500,000 | P2,500,000 | P5,000,000 |
| Cost of sales | 600,000 | 800,000 | 1,400,000 | 2,200,000 |
| Operating expenses | 200,000 | 500,000 | 600,000 | 700,000 |
How much is the correct income tax due for 2021?
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Managerial Accounting Creating Value in a Dynamic Business Environment
Authors: Ronald Hilton, David Platt
10th edition
78025664, 978-0078025662
