Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

If Crisame Corporation itemizes deductions in 2018, what is its income tax payable in the 3rd quarter of 2018? Crisame Corporation had the following quarterly

If Crisame Corporation itemizes deductions in 2018, what is its income tax payable in the 3rd quarter of 2018?

image text in transcribed
Crisame Corporation had the following quarterly data in 2018: Sales Cost of Sales Deductions Tax withheld by clients 10 7,000,000 3,000,000 2,500,000 350,000 20 11,000,000 5,000,000 3,500,000 550,000 30 11,000,000 4,800,000 4,500,000 550,000 4Q 15,000,000 6,500,000 1,500,000 750,000 The corporation also had excess tax credits from the prior year in the amount of PhP5,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

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

Step: 2

blur-text-image

Step: 3

blur-text-image

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

Financial Accounting Reporting Analysis And Decision Making

Authors: Shirley Carlon, Rosina Mladenovic Mcalpine, Chrisann Palm, Lorena Mitrione, Ngaire Kirk, Lily Wong

5th Edition

9780730313748

Students also viewed these Accounting questions

Question

Create a Fishbone diagram with the problem being coal "mine safety

Answered: 1 week ago