Assuming that Carding opted at the beginning of the year to use the 8% commuted tax. Compute the total income tax due on the income of Carding in 2021.a. 144,500b. 150,100c. 170,100d. 164,500 4:41个Carding reported the following for the taxable year 2021:Gross compensation, net of 50,000 mandatory deductions13th month pay and other benefitsGross receipts from professionDirect costs incurred in the professionIndirect expenses incurred in the professionOther non-operating income subject to regular tax|||O70%600,000140,000900,000250,00050,00070,000

It has been given in the question that Carding has opted at the beginning of the year to use 8% tax…

Answered: Compute the total income tax due on the…

Business

Accounting

Compute the total income tax due on the income of Carding in 2021.

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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