World Data Company was established in 2015. It has the following data for the current year:|Gross income, PhilippinesExpenses, PhilippinesGross income, CanadaExpenses, CanadaDividends from PLDTInterest on bank deposits975,000950,000700,000620,00030,00020,000Assuming World Data is a resident foreign corporation, what is the income tax payable for thecurrent year?5,0006,25021,00026,250None of the above

A tax is a compulsory charge paid to the government by everyone who is generating any kind of…

Answered: Assuming World Data is a resident…

Assuming World Data is a resident foreign corporation, what is the income tax payable for the current year? 5,000 6,250 21,000 26,250 O None of the above

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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Question

World Data Company was established in 2015. It has the following data for the current year:
|Gross income, Philippines
Expenses, Philippines
Gross income, Canada
Expenses, Canada
Dividends from PLDT
Interest on bank deposits
975,000
950,000
700,000
620,000
30,000
20,000
Assuming World Data is a resident foreign corporation, what is the income tax payable for the
current year?
5,000
6,250
21,000
26,250
None of the above

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