During 2020, Alpha Company fully recovered the write-offs made during 2017 worth P100,000. The following are the net income/(loss) before write-offs are P60,000 for 2017, P20,000 for 2018, P5,000 for 2019 and (P20,000) for 2020. How much is the taxable income for 2020?

During 2020, Alpha Company fully recovered the write-offs made during 2017 worth P100,000. The following are the net income/(loss) before write-offs are P60,000 for 2017, P20,000 for 2018, P5,000 for 2019 and (P20,000) for 2020. How much is the taxable income for 2020?

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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During 2020, Alpha Company fully recovered the write-offs made during 2017 worth P100,000. The following are the net income/(loss) before write-offs are P60,000 for 2017, P20,000 for 2018, P5,000 for 2019 and (P20,000) for 2020.
How much is the taxable income for 2020?

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