2. The following are the composition of the total gross income of a domestic corporation which is subject to MCIT in 2021. What is the minimun corporate income tax? Sales: net of discounts and allowances 4, 000, 000 Cost of sales 2, 400, 000 Dividend Income 100, 000 Royalty Income 250, 000 Gain on sale of building 150, 000
2. The following are the composition of the total gross income of a domestic corporation which is subject to MCIT in 2021. What is the minimun corporate income tax? Sales: net of discounts and allowances 4, 000, 000 Cost of sales 2, 400, 000 Dividend Income 100, 000 Royalty Income 250, 000 Gain on sale of building 150, 000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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2. The following are the composition of the total gross income of a domestic corporation which is subject to MCIT in 2021. What is the minimun corporate income tax?
Sales: net of discounts and allowances | 4, 000, 000 |
Cost of sales | 2, 400, 000 |
Dividend Income | 100, 000 |
Royalty Income | 250, 000 |
Gain on sale of building | 150, 000 |
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