Balance Sheet: Asset – Php 500,000 Liability – Php 100,000 Stockholders' Equity – Php 400,000 Income Statement: Gross sales – Php 10,000,000 Cost of sales – Php 3,000,000 Operating Expenses – Php 1,000,000 How much is the income tax due under CREATE Law if? the taxpayer is a domestic corporation a. 1,200,000 b. 70,000 c. 1,800,000 d. 1,500,000
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A taxpayer registered in 2020 made available the following financial information for TY2021:
Asset – Php 500,000
Liability – Php 100,000
Income Statement:
Gross sales – Php 10,000,000
Cost of sales – Php 3,000,000
Operating Expenses – Php 1,000,000
How much is the income tax due under CREATE Law if? the taxpayer is a domestic corporation
a. 1,200,000
b. 70,000
c. 1,800,000
d. 1,500,000
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- A taxpayer registered in 2020 made available the following financial information for TY2021 : Balance Sheet: Asset - Php 500.000 Liability - Php 100.000 Stockholders' Equity - Php 400,000 Income Statement : Gross sales - Php 10.000.000 Cost of sales - Php 8.000.000 Operating Expenses - Php 5,000,000 How much is the income tax due under CREATE Law if the taxpayer is a domestic corporation ? Php 300.000 Php0 Php 600,000 Php 200.000A taxpayer registered in 2010 made available the following financial information for TY2021 Balance Sheet:Asset – Php 50,000,000Liability – Php 30,000,000Stockholders' Equity – Php 20,000.000 Income StatementGross sales – Php 100,000,000Cost of sales – Php 60,000,000 Operating Expenses – Php 50,000,000 How much is the income tax payable under CREATE Law if the taxpayer is a domestic corporation?a. 800,000b. 400,000c. 2,500,000d. 0GRADUATED 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
- A taxpayer registered in 2010 made available the following financial information for TY2021: Balance Sheet: Asset - Php 50,000,000 Liability - Php 30,000,000 Stockholders' Equity - Php 20,000,000 Income Statement: Gross sales - Php 10,000,000 Cost of sales – Php 6,000,000 Operating Expenses - Php 2,000,000 How much is the income tax due under CREATE Law if the taxpayer is a domestic corporation and uses itemized deduction as method of deduction? CHOICES: Php 480,000 Php 500,000 Php 400,000 Php 600,000A taxpayer registered in 2010 made available the following financial information for TY2021: Balance Sheet: Asset - Php 50,000,000 Liability - Php 30,000,000 Stockholders' Equity - Php 20,000,000 Income Statement: Gross sales - Php 10,000,000 Cost of sales – Php 6,000,000 Operating Expenses - Php 2,000,000 How much is the income tax due under CREATE Law if the taxpayer is a domestic corporation and uses itemized deduction as method of deduction?A taxpayer registered in 2010 made available the following financial information for TY2021: Balance Sheet: Asset - Php 50,000,000 Liability - Php 30,000,000 Stockholders' Equity- Php 20,000,000 Income Statement: Gross sales - Php 10,000,000 Cost of sales Php 6,000,000 Operating Expenses - Php 5,900,000 How much is the income tax due under CREATE Law if the taxpayer is a domestic corporation?
- asap A taxpayer made available the following financial information: Gross sales - Php 10,000,000 Cost of sales – Php 6,000,000 Expenses: Salaries and wages – Php 1,000,000 Transportation and travel – Php 20,000 Rental - Php 240,000 Representation expense – Php 100,000 Depreciation expense – Php 200,000 Office supplies – Php 20,000 Miscellaneous expenses – Php 10,000 How much is the taxable income if the taxpayer is a domestic corporation and opted for OSD? Group of answer choices b. 4,000,000 d. 2,400,000 c. 6,000,000 a. 2,410,000A taxpayer made available the following financial information: Gross receipts - Php 10,000,000 Cost of service – Php 6,000,000 Expenses: Depreciation expense – Php 200,000 Miscellaneous expenses – Php 10,000 Office supplies – Php 20,000 Rental - Php 240,000 Representation expense – Php 100,000 Salaries and wages – Php 1,000,000 Transportation and travel – Php 20,000 How much is the income tax due if the taxpayer is an individual resident citizen? a.Php 2,278,800 b. Php 621,200 c, Php 361,000 d. Php 340,000A taxpayer made available the following financial information: Gross receipts - Php 10,000,000 Cost of service – Php 6,000,000 Expenses: Salaries and wages – Php 1,000,000 Transportation and travel – Php 20,000 Rental - Php 240,000 Representation expense – Php 100,000 Depreciation expense – Php 200,000 Office supplies – Php 20,000 Miscellaneous expenses – Php 10,000 How much is the income tax due if the taxpayer is an individual resident citizen?
- A taxpayer made available the following financial information: Gross receipts - Php 10,000,000 Cost of service – Php 6,000,000 Expenses: Salaries and wages – Php 1,000,000 Transportation and travel – Php 20,000 Rental - Php 240,000 Representation expense – Php 100,000 Depreciation expense – Php 200,000 Office supplies – Php 20,000 Miscellaneous expenses – Php 10,000 How much is the income tax due if the taxpayer is an individual resident citizen? Group of answer choices Php 621,200 Php 361,000 Php 340,000 Php 2,278,80013 A taxpayer registered in 2010 made available the following financial information for TY2021: Balance Sheet: Asset - Php 500,000 Liability - Php 100,000 Stockholders' Equity - Php 400,000 Income Statement: Gross sales - Php 100,000,000 Cost of sales – Php 60,000,000 Operating Expenses - Php 30,000,000 How much is the income tax payable under CREATE Law if the taxpayer is a domestic corporation? Group of answer choices Php 2,000,000 Php 3,000,000 Php 2,500,000 Php 400,00019 A taxpayer registered in 2010 made available the following financial information for TY2021: Balance Sheet: Asset - Php 50,000,000 Liability - Php 30,000,000 Stockholders' Equity - Php 20,000,000 Income Statement: Gross sales - Php 10,000,000 Cost of sales – Php 6,000,000 Operating Expenses - Php 2,000,000 How much is the income tax due under CREATE Law if the taxpayer is a domestic corporation and uses itemized deduction as method of deduction? Group of answer choices Php 600,000 Php 500,000 Php 480,000 Php 400,000