ABC Corp., a Non-Resident Foreign Corporation (NRFC) bought 10,000 (PV Php 100) shares of stocks of XYZ Corp., a Domestic Corporation (DC) in the amount Php 1 Million in 2010. On September 12, 2021, ABC Corp. sold the shares o stock to DEF Corp., a Domestic Corporation for Php 2 Million.
ABC Corp., a Non-Resident Foreign Corporation (NRFC) bought 10,000 (PV Php 100) shares of stocks of XYZ Corp., a Domestic Corporation (DC) in the amount Php 1 Million in 2010. On September 12, 2021, ABC Corp. sold the shares o stock to DEF Corp., a Domestic Corporation for Php 2 Million.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![ABC Corp., a Non-Resident Foreign Corporation (NRFC) bought 10,000 (PV Php 100) shares of stocks of XYZ Corp., a
Domestic Corporation (DC) in the amount Php 1 Million in 2010. On September 12, 2021, ABC Corp. sold the shares of
stock to DEF Corp., a Domestic Corporation for Php 2 Million.
Choices
Php 150,000
Php 600,000
Php 300,000
Php 250,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fafb38e04-8b9a-4317-8e29-f34f67373899%2F87c8e80e-5e0f-40cc-954e-3f9d21f98ca9%2F12cucd_processed.png&w=3840&q=75)
Transcribed Image Text:ABC Corp., a Non-Resident Foreign Corporation (NRFC) bought 10,000 (PV Php 100) shares of stocks of XYZ Corp., a
Domestic Corporation (DC) in the amount Php 1 Million in 2010. On September 12, 2021, ABC Corp. sold the shares of
stock to DEF Corp., a Domestic Corporation for Php 2 Million.
Choices
Php 150,000
Php 600,000
Php 300,000
Php 250,000
![GRADUATED TAX TABLE UNDER TRAIN LAW (January 1, 2018 to December 31, 2022)
Over
But not over The Tax shall be
Plus of Excess Over
250,000
250,000
400,000
20%
250,000
400,000
800,000
30,000
25%
400,000
800,000
2,000,000
130,000
30%
800,000
2,000,000 8,000,000
490,000
32%
2,000,000
8,000,000
2,410,000
35%
8,000,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fafb38e04-8b9a-4317-8e29-f34f67373899%2F87c8e80e-5e0f-40cc-954e-3f9d21f98ca9%2F749rgyi_processed.png&w=3840&q=75)
Transcribed Image Text:GRADUATED TAX TABLE UNDER TRAIN LAW (January 1, 2018 to December 31, 2022)
Over
But not over The Tax shall be
Plus of Excess Over
250,000
250,000
400,000
20%
250,000
400,000
800,000
30,000
25%
400,000
800,000
2,000,000
130,000
30%
800,000
2,000,000 8,000,000
490,000
32%
2,000,000
8,000,000
2,410,000
35%
8,000,000
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