. 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.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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