14 Victory ML Bus company has the following data for the first quarter of 2021: Gross receipt from passengers P 8,000,000 Gross revenue from cargo operations 5,000,000 Expenses – Passengers operation 4,750,000 Expenses – Cargo operations 2,500,000 Gross receipt from rental of facilities 2,000,000 Additional info: 25% of its gross revenue from cargo operations were still outstanding as of the end of the quarter Required: determine the total business tax due for the first quarter
14 Victory ML Bus company has the following data for the first quarter of 2021: Gross receipt from passengers P 8,000,000 Gross revenue from cargo operations 5,000,000 Expenses – Passengers operation 4,750,000 Expenses – Cargo operations 2,500,000 Gross receipt from rental of facilities 2,000,000 Additional info: 25% of its gross revenue from cargo operations were still outstanding as of the end of the quarter Required: determine the total business tax due for the first quarter
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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14
Victory ML Bus company has the following data for the first quarter of 2021:
|
Gross receipt from passengers |
P 8,000,000 |
|
Gross revenue from cargo operations |
5,000,000 |
|
Expenses – Passengers operation |
4,750,000 |
|
Expenses – Cargo operations |
2,500,000 |
|
Gross receipt from rental of facilities |
2,000,000 |
Additional info: 25% of its gross revenue from cargo operations were still outstanding as of the end of the quarter
Required: determine the total business tax due for the first quarter
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