How much is the income tax still payable or due?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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BTS Company had taxable income of P 650,000 before considering the following information for the taxable year 2021:
            Net operating loss carry over                      P 100,000
            Excess MCIT carry over                                       8,000
             CWT                                                               15,000
             Quarterly tax payments                                 40,000
              Excess prior year tax credits                           5,000

question:

How much is the income tax still payable or due?

a. 69,500
b. 82,500
c. 137,500
d. Answer not given
 
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