. Tax due
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
ABC Hospital, a private non-profit hospital, has gross receipts of P19,000,000,00 with a cost of P6,000,000,00 and allowable deductions of P3,250,000.00 from related activities, while for its unrelated activities, it incurred P5,000,000.00 and P2,000,000.00 as cost of sales and allowable deductions, respectively, with a gross receipts of P18,000,000,00, for Calendar Year 2021. Tax due is:
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