Pioneer College, a private e

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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1. Pioneer College, a private educational institution, has presented the following data for the year:
Gross Income, related activities
Gross Income, unrelated activities (except rental income)
Rental income (gross of 5% WT)
Expenses, related activities
Expenses, unrelated activities
Dividend income from a domestic corporation
Quarterly income tax paid for the first three quarters
Compute the income tax payable.
P5,000,000
5,000,000
2,000,000
2,000,000
3,000,000
100,000
500,000
Transcribed Image Text:1. Pioneer College, a private educational institution, has presented the following data for the year: Gross Income, related activities Gross Income, unrelated activities (except rental income) Rental income (gross of 5% WT) Expenses, related activities Expenses, unrelated activities Dividend income from a domestic corporation Quarterly income tax paid for the first three quarters Compute the income tax payable. P5,000,000 5,000,000 2,000,000 2,000,000 3,000,000 100,000 500,000
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