Question
Gross income, gross of 1% withholding tax (1,435,500 / 99%)1,450,000Expenses-790,600Rent income, gross of 5% withholding tax (136,800 / 95%)144,000Taxable net income803,400x RCIT%30%Income tax due241,020Less: CWT
Gross income, gross of 1% withholding tax (1,435,500 / 99%)1,450,000Expenses-790,600Rent income, gross of 5% withholding tax (136,800 / 95%)144,000Taxable net income803,400x RCIT%30%Income tax due241,020Less: CWT on gross income
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Introduction To Financial Accounting
Authors: Charles T Horngren, Gary L Sundem
10th Edition
136122973, 978-0136122975
