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6. Minimum corporate income tax. Mocha Corporation, a domestirc corporation, had the following data on its 15th year of operation: P 6,000,000 200,000 15,000 2,400,000 Sales Sales returns and allowances Sales discounts Inventory, January 1 Purchases Freight in Purchase returns and allowances Purchase discounts 1,500,000 35,000 30.000 7,000 1,900,000 1,600,000 Inventory, December 31 Operating expenses-

6. Minimum corporate income tax. Mocha Corporation, a domestirc corporation, had the following data on its 15th year of operation: P 6,000,000 200,000 15,000 2,400,000 Sales Sales returns and allowances Sales discounts Inventory, January 1 Purchases Freight in Purchase returns and allowances Purchase discounts 1,500,000 35,000 30.000 7,000 1,900,000 1,600,000 Inventory, December 31 Operating expenses-

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Compute for the minimum corporate income tax

6. Minimum corporate income tax. Mocha Corporation, a domestir corporation, had the foliowing data on its 15th year of operation: P 6,000,000 200,000 15,000 2,400,000 1,500,000 35,000 30.000 Sales Sales returns and allowances Sales discounts inventory, January 1 Purchases Freight in Purchase returns and allowances Purchase discounts teen Inventory, December 31 Operating expenses- 7,000 1,900,000 1,600,000 CS Scanned with CamScanner
Transcribed Image Text:6. Minimum corporate income tax. Mocha Corporation, a domestir corporation, had the foliowing data on its 15th year of operation: P 6,000,000 200,000 15,000 2,400,000 1,500,000 35,000 30.000 Sales Sales returns and allowances Sales discounts inventory, January 1 Purchases Freight in Purchase returns and allowances Purchase discounts teen Inventory, December 31 Operating expenses- 7,000 1,900,000 1,600,000 CS Scanned with CamScanner
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