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A domestic corporation in its 8th year of operations as of January MSME under CREATE law, has the following data: 2021 17,000,000 10,500,000 6,750,000 Sales Cost of Sales Operating Expenses How much is the income tax payable for 2021? a. P65,000 c. P350,000 b. P130,000 d. nil The income tax payable in 2022 was: a. P87,500 b. P675,000 c. P740,000 d. P1,110,000 2022 23,000,000 14,250,000 4,800,000 ed as

A domestic corporation in its 8th year of operations as of January MSME under CREATE law, has the following data: 2021 17,000,000 10,500,000 6,750,000 Sales Cost of Sales Operating Expenses How much is the income tax payable for 2021? a. P65,000 c. P350,000 b. P130,000 d. nil The income tax payable in 2022 was: a. P87,500 b. P675,000 c. P740,000 d. P1,110,000 2022 23,000,000 14,250,000 4,800,000 ed as

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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A domestic corporation in its 8th year of operations as of January 1, 2021, classified as MSME under CREATE law, has the following data: Sales Cost of Sales Operating Expenses 2021 17,000,000 10,500,000 6,750,000 How much is the income tax payable for 2021? a. P65,000. c. P350,000 b. P130,000 d. nil The income tax payable in 2022 was: a. P87,500 b. P675,000 c. P740,000 d. P1,110,000 2022 23,000,000 14,250,000 4,800,000
Transcribed Image Text:A domestic corporation in its 8th year of operations as of January 1, 2021, classified as MSME under CREATE law, has the following data: Sales Cost of Sales Operating Expenses 2021 17,000,000 10,500,000 6,750,000 How much is the income tax payable for 2021? a. P65,000. c. P350,000 b. P130,000 d. nil The income tax payable in 2022 was: a. P87,500 b. P675,000 c. P740,000 d. P1,110,000 2022 23,000,000 14,250,000 4,800,000
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