ABC Corporation's cumulative balance of RCIT, MCIT, taxes withheld, excessMCIT and excess withholding taxes from prior year(s) were provided asfollows:20202019QUARTERТахesExcessExcess withholdingRCITMCITwithheldMCITtax1st300,000 240,000 20,00050,00020,0002nd550,000 350,000 35,0003rd750,000 760,000 53,0004th800,000 810,000 67,000How much is the income tax payable on the 4th quarter?

Income tax- An income tax is a tax obligatory on persons or entities (taxpayers) in admiration of…

ABC Corporation's cumulative balance of RCIT, MCIT, taxes withheld, excess MCIT and excess withholding taxes from prior year(s) were provided as follows: 2020 2019 QUARTER RCIT |Таxes withheld Excess withholding Excess MCIT MCIT tax 1st 300,000 240,000 20,000 50,000 20,000 2nd 550,000 350,000 35,000 3rd 750,000 760,000 53,000 4th 800,000 810,000 67,000 How much is the income tax payable on the 4th quarter?

ABC Corporation's cumulative balance of RCIT, MCIT, taxes withheld, excess MCIT and excess withholding taxes from prior year(s) were provided as follows: 2020 2019 QUARTER RCIT |Таxes withheld Excess withholding Excess MCIT MCIT tax 1st 300,000 240,000 20,000 50,000 20,000 2nd 550,000 350,000 35,000 3rd 750,000 760,000 53,000 4th 800,000 810,000 67,000 How much is the income tax payable on the 4th quarter?

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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