Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Hi I need help on what is the answer for this taxation activity. Below is the problem and other concerns will be in the comments

image text in transcribedimage text in transcribed

Hi I need help on what is the answer for this taxation activity. Below is the problem and other concerns will be in the comments section. I hope that you can help me and surely I will give you full positive feedbacks

Activity 1

image text in transcribedimage text in transcribed
E @ O \\'i 4%..\" 31% I 3201 pm 6 LEARNING MODULE INCOME T... Z 3. BARBARO is a minimum wage earner and operates a small barber shop. During the year the following are his data; Salary (MWE) P 48,000 Overtime pay 12,000 Holiday pay 3,000 Gross receipts 280,000 Cost of services 60,000 a. Compute for the tax due on BARBARO under the graduated rates A 13/ 26 V b. Compute for the tax due ifhe opted to used 8% income tax rate '\\ E @J 9 *3 nd\" 31% I 3:02 pm 6 LEARNING MODULE INCOME T... E .0. 4. Mocha Corporation. a domestic corporation, had the following data on its 15\" year of operation: Sales P 6,000,000 Sales Return and allowances 200,000 Sales Discount 15,000 Inventory, January 1 2,400,000 Purchases 1,500,000 Freight in 35,000 Purchase Returns and allowances 30,000 Purchase discounts 7.000 Inventory, December 31 1,900,000 Operating expenses 1,600,000 Compute the following: a. Normal Income Tax due 13. Minimum Corporate Income Tax e. Income Tax doe ****@M**** 26/26

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Modern Advanced Accounting in Canada

Authors: Hilton Murray, Herauf Darrell

8th edition

1259087557, 1057317623, 978-1259087554

More Books

Students also viewed these Accounting questions

Question

3. Speak respectfully. Use the students name.

Answered: 1 week ago

Question

4. What means will you use to achieve these values?

Answered: 1 week ago