GIVEN: • Taxpayer is a non-stock and non-profit educational institution. • It has been granted with a Certificate of Tax Exemption • Financial data this taxable period (2021): Related Unrelated Gross Income Expenses Net Activities P35,000,000 10,000,000 25,000,000 Activities P5,000,000 1,000,000 4,000,000 COMPUTE: Taxable income

GIVEN: • Taxpayer is a non-stock and non-profit educational institution. • It has been granted with a Certificate of Tax Exemption • Financial data this taxable period (2021): Related Unrelated Gross Income Expenses Net Activities P35,000,000 10,000,000 25,000,000 Activities P5,000,000 1,000,000 4,000,000 COMPUTE: Taxable income

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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