Question
T Corporation, a domestic corporation has the following record of income and expense during the year: Gross income P1,540,000 Expenses 654,000 Dividend from a resident
T Corporation, a domestic corporation has the following
record of income and expense during the year:
Gross income P1,540,000
Expenses 654,000
Dividend from a resident foreign corporation 95,000
Royalties, Philippines 230,000
Royalties, US 175,000
Interest on time deposit with Metrobank 18,000
Interest on money market placement 25,000
The net income before other income is:
The total final withhold
ing taxes on T Corporation is:
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Introduction to Managerial Accounting
Authors: Peter C. Brewer, Ray H Garrison, Eric Noreen
8th edition
1259917061, 978-1259917066
