4. Compute the income tax due for 2021 if XYZ is a domestic corporation. XYZ reported the following gross income and expenses:   Philippines Abroad   Gross income 38, 000, 000 14, 000, 000 52, 000, 000 Deductions 15, 000, 000 3, 000, 000 18, 000, 000 Taxable Income 23, 000, 000 11, 000, 000 34, 000, 000 P10,200,000 P6,900,000 P8,500,000 P6,800,000

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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4. Compute the income tax due for 2021 if XYZ is a domestic corporation. XYZ reported the following gross income and expenses:

  Philippines Abroad  
Gross income 38, 000, 000 14, 000, 000 52, 000, 000
Deductions 15, 000, 000 3, 000, 000 18, 000, 000
Taxable Income 23, 000, 000 11, 000, 000 34, 000, 000

P10,200,000

P6,900,000

P8,500,000

P6,800,000

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