Brazzers Corporation's computed normal income tax and MCIT, and creditable income taxes withheld from 1st to 4th quarters including excess MCIT and excess withholding taxes from prior year/s are as follows: Net Income Tax Due, 3rd quarter Quarter Normal Income Tax MCIT Taxes Withheld Excess MCIT Prior Year P60,000 Excess W/Tax Prior Year P20,000 14 2nd 3 4th P200,000 240,000 500,000 400,000 P 160,000 500,000 200,000 200,000 P40,000 60,000 80,000 70,000 Brazzers Corporation's computed normal income tax and MCIT, and creditable income taxes withheld from 1st to 4th quarters including excess MCIT and excess withholding taxes from prior year/s are as follows: Annual Net Income Tax Due: Quarter Normal Income Tax Taxes MCIT withheld Excess MCIT Prior Year P60,000 Excess W/Tax Prior Year P20,000 14 2 3 41 P200,000 240,000 500,000 400,000 P160,000 500,000 200,000 200,000 P40,000 60,000 80,000 70,000 P200,000 P400.000 330,000 P670.000 Bang Bros, Inc. a closely held corporation presented the following data at the end of the current taxable year Gross income from business operation P6,000,000 Dividends declared during the year P700,000 Other income not subject to final tax 500,000 Retained earnings, beginning 1,500,000 itemized business expenses 4,200,000 Ordinary share capital, 200,000 shares 2,000,000 Dividends received from domestic corporation 300,000 Share premium 1,000,000 Interest income from bank, gross 150,000 Income tax due and payable? P130,000 P690,000 P230,000 P46.000 Brazzers Corporation's computed normal income tax and MCIT, and creditable income taxes withheld from 1st to 4th quarters including excess MCIT and excess withholding taxes from prior year/s are as follows: Net Income Tax Due, 3rd quarter Quarter Normal Income Tax MCIT Taxes Withheld Excess MCIT Prior Year P60,000 Excess W/Tax Prior Year P20,000 14 2nd 3 4th P200,000 240,000 500,000 400,000 P 160,000 500,000 200,000 200,000 P40,000 60,000 80,000 70,000 Brazzers Corporation's computed normal income tax and MCIT, and creditable income taxes withheld from 1st to 4th quarters including excess MCIT and excess withholding taxes from prior year/s are as follows: Annual Net Income Tax Due: Quarter Normal Income Tax Taxes MCIT withheld Excess MCIT Prior Year P60,000 Excess W/Tax Prior Year P20,000 14 2 3 41 P200,000 240,000 500,000 400,000 P160,000 500,000 200,000 200,000 P40,000 60,000 80,000 70,000 P200,000 P400.000 330,000 P670.000 Bang Bros, Inc. a closely held corporation presented the following data at the end of the current taxable year Gross income from business operation P6,000,000 Dividends declared during the year P700,000 Other income not subject to final tax 500,000 Retained earnings, beginning 1,500,000 itemized business expenses 4,200,000 Ordinary share capital, 200,000 shares 2,000,000 Dividends received from domestic corporation 300,000 Share premium 1,000,000 Interest income from bank, gross 150,000 Income tax due and payable? P130,000 P690,000 P230,000 P46.000