. Pacific Airlines, an international carrier, showed the following gross receipts for 2X18: Point of Origin Destination Gross Receipts Philippines United States of America P 8,000,000 United Kingdom 4,000,000 3,750,000 2,100,000 United States of America United States of America United Kingdom Philippines Philippines Additional information: • Forty percent (40%) of the shipments from the Philippines to the United States were later shipped to the United Kingdom. Twenty-five percent (25%) of all its revenues were from the transport of cargoes and goods. Compute the income tax payable for 2X18.
. Pacific Airlines, an international carrier, showed the following gross receipts for 2X18: Point of Origin Destination Gross Receipts Philippines United States of America P 8,000,000 United Kingdom 4,000,000 3,750,000 2,100,000 United States of America United States of America United Kingdom Philippines Philippines Additional information: • Forty percent (40%) of the shipments from the Philippines to the United States were later shipped to the United Kingdom. Twenty-five percent (25%) of all its revenues were from the transport of cargoes and goods. Compute the income tax payable for 2X18.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![5. Pacific Airlines, an international carrier, showed the following gross receipts for 2X18:
Point of Origin
Gross Receipts
Philippines
P 8,000,000
4,000,000
3,750,000
2,100,000
United States of America
United States of America
United Kingdom
●
Destination
United States of America
United Kingdom
Philippines
Philippines
Additional information:
Forty percent (40%) of the shipments from the Philippines to the United States were later shipped to
the United Kingdom.
Twenty-five percent (25%) of all its revenues were from the transport of cargoes and goods.
Compute the income tax payable for 2X18.
5](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6e10912e-5b4f-4905-9d20-b9b6469c0778%2F6c747bf5-2062-4067-952a-713629403607%2Fje9qk9_processed.png&w=3840&q=75)
Transcribed Image Text:5. Pacific Airlines, an international carrier, showed the following gross receipts for 2X18:
Point of Origin
Gross Receipts
Philippines
P 8,000,000
4,000,000
3,750,000
2,100,000
United States of America
United States of America
United Kingdom
●
Destination
United States of America
United Kingdom
Philippines
Philippines
Additional information:
Forty percent (40%) of the shipments from the Philippines to the United States were later shipped to
the United Kingdom.
Twenty-five percent (25%) of all its revenues were from the transport of cargoes and goods.
Compute the income tax payable for 2X18.
5
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