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please answer now i promise to like your answer Question 31 2 pt The following are the composition of the total gross income of a
please answer now i promise to like your answer
Question 31 2 pt The following are the composition of the total gross income of a domestic corporation which is subject to MCIT: Sales, net of discounts and allowances Less: Cost of sales Gross income from operations Dividend income Royalty income Gain on sale of building Total gross income P 4,000,000 2.400.000 P 1,600,000 100,000 250,000 150.000 2.100.000 mcit RATE - 2% RCIT RATE -30% What is the minimum corporate income tax? 42.000 40,000 35,000 O 32.000 Question 32 2 pts The following are the composition of the total gross income of a domestic corporation which is subject to MCIT: Sales, net of discounts and allowances Less: Cost of sales Gross income from operations Dividend income Royalty income Gain on sale of building Total gross income mcit RATE - 2% P 4,000,000 2.400.000 P 1,600,000 100,000 250,000 150.000 2.100.000 RCIT RATE -30% what is the regular corporate income tax if the corporation has a total allowable deduction of P1,700,000? 0 15,000 090,000 120,000 Question 33 2 pts A corporate taxpayer had the following data on its fifth year of operation: Philippines Abroad Total Sales P 2,000,000 P 3,000,000 P 5,000,000 Less: Cost of services 1,200,000 1,800,000 3.000.000 Gross income from operation 800,000 P 1,200,000 P 2,000,000 Interest on deposits 50,000 250,000 300.000 Total Income 850,000 P 1,450,000 P 2,300,000 Less: Business expenses 800,000 1 300,000 2,100,000 Net income 50,000 P 150,000 P 200,000 P mcit RATE - 2% RCIT RATE -30% What is the tax due assuming the taxpayer is a domestic corporation? 60,000 46,000 45,000 40,000 Question 34 2 pts The following relates to the MCIT and RCIT of Tamparan Corporation: 2012 2013 2014 2015 2016 MCIT RCIT 80,000 P 0 120,000 50,000 110,000 90,000 100,000 105,000 120,000 140,000 What is the tax still due in 2015? O 100,000 O 75,000 25,000 Question 31 2 pt The following are the composition of the total gross income of a domestic corporation which is subject to MCIT: Sales, net of discounts and allowances Less: Cost of sales Gross income from operations Dividend income Royalty income Gain on sale of building Total gross income P 4,000,000 2.400.000 P 1,600,000 100,000 250,000 150.000 2.100.000 mcit RATE - 2% RCIT RATE -30% What is the minimum corporate income tax? 42.000 40,000 35,000 O 32.000 Question 32 2 pts The following are the composition of the total gross income of a domestic corporation which is subject to MCIT: Sales, net of discounts and allowances Less: Cost of sales Gross income from operations Dividend income Royalty income Gain on sale of building Total gross income mcit RATE - 2% P 4,000,000 2.400.000 P 1,600,000 100,000 250,000 150.000 2.100.000 RCIT RATE -30% what is the regular corporate income tax if the corporation has a total allowable deduction of P1,700,000? 0 15,000 090,000 120,000 Question 33 2 pts A corporate taxpayer had the following data on its fifth year of operation: Philippines Abroad Total Sales P 2,000,000 P 3,000,000 P 5,000,000 Less: Cost of services 1,200,000 1,800,000 3.000.000 Gross income from operation 800,000 P 1,200,000 P 2,000,000 Interest on deposits 50,000 250,000 300.000 Total Income 850,000 P 1,450,000 P 2,300,000 Less: Business expenses 800,000 1 300,000 2,100,000 Net income 50,000 P 150,000 P 200,000 P mcit RATE - 2% RCIT RATE -30% What is the tax due assuming the taxpayer is a domestic corporation? 60,000 46,000 45,000 40,000 Question 34 2 pts The following relates to the MCIT and RCIT of Tamparan Corporation: 2012 2013 2014 2015 2016 MCIT RCIT 80,000 P 0 120,000 50,000 110,000 90,000 100,000 105,000 120,000 140,000 What is the tax still due in 2015? O 100,000 O 75,000 25,000 Step by Step Solution
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