Compute the tax due if the corporation is a non-profit hospital WJM is a corporation owned by Wenjoy, John Prosper and Mica which was organized in 2015.In the year 2021, the corporation show the following performancePhilippinesAbroadGross Sales7,000,000.005,000,000.00Cost of Sales3,500,000.003,500,000.00Allowable Deductions1,500,000.00300,000.00It's total assests amounted to 120,000,000 comprising cash and inventories only.

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Compute the tax due if the corporation is a non-profit hospital

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

Compute the tax due if the corporation is a non-profit hospital

WJM is a corporation owned by Wenjoy, John Prosper and Mica which was organized in 2015.
In the year 2021, the corporation show the following performance
Philippines
Abroad
Gross Sales
7,000,000.00
5,000,000.00
Cost of Sales
3,500,000.00
3,500,000.00
Allowable Deductions
1,500,000.00
300,000.00
It's total assests amounted to 120,000,000 comprising cash and inventories only.

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