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Problem 5 Shown below are the operating results of Bulalacao Company, a large corporation, since its start of operations: 2016 2017 2018 2019 2020
Problem 5 Shown below are the operating results of Bulalacao Company, a large corporation, since its start of operations: 2016 2017 2018 2019 2020 2021 Gross income 4,000,000 4,500,000 5,500,000 6,000,000 6,500,000 7,000,000 Deductions 5,000,000 5,200,000 5,000,000 5,800,000 6,100,000 6,200,000 What is the income tax respectively in 2019 and 2020? In the immediately preceding problem, what is the income tax due in 2021? Problem 9 A MSME corporation which started operations in 2016 reported the following: Gross income from operations Rent income Less: Business expenses What is the tax due in 2020? 2020 500,000 200,000 820,000 2021 10,000,000 2,000,000 6,500,000 In the immediately preceding problem, what is the tax due and payable in 2021?
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Problem 5 The income tax for 2019 is calculated as follows Gross income 6500000 Deductions 6100000 I...Get Instant Access to Expert-Tailored Solutions
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