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The following donations were received during the year 2018 by NOBITA CORP.: Received a track of land from a rich entrepreneur on May 4,
The following donations were received during the year 2018 by NOBITA CORP.: • Received a track of land from a rich entrepreneur on May 4, 2018, with a fair value of P150,000. • Received 2,000 entity's own shares from a stockholder with a par value of P100 per share and fair value at that date of P150 per share. • Received from a shareholder cash of P100,000, no conditions are attached to the donation.
Questions:
1.How much is the total credit on donated capital based on the above transactions?
Questions:
1.How much is the total credit on donated capital based on the above transactions?
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South-Western Federal Taxation 2020 Comprehensive
Authors: David M. Maloney, William A. Raabe, James C. Young, Annette Nellen, William H. Hoffman
43rd Edition
357109147, 978-0357109144
