A company was not able to file and pay its 2015 annual income tax. As a result of this, it was liable for a surcharge penalty of P96,500. There was willful neglect on the non-compliance. Assume all the liabilities are paid today. How much is the total amount due, exclusive of the compromise penalty?

A company was not able to file and pay its 2015 annual income tax. As a result of this, it was liable for a surcharge penalty of P96,500. There was willful neglect on the non-compliance. Assume all the liabilities are paid today. How much is the total amount due, exclusive of the compromise penalty?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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18
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4.
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