22. A domestic corporation has a net income of P1,200,000 in thePhilippines and P800,000 from abroad. Compute the income tax duea. P 650,000О Б.Р 500,000O c. P 550,000O d. P 600,00023. Assuming the corporation in question number 22 is foreigncorporation. What will be the income tax due *a. P 600,000О Б. Р650,000с. Р360,000O d. P300,000

calculation of taxable net income Net income (Philippine) 12,00,000 income (Abroad)…

Answered: nilippines and PE a. P 650,000

Business

Accounting

nilippines and PE a. P 650,000

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

22. A domestic corporation has a net income of P1,200,000 in the
Philippines and P800,000 from abroad. Compute the income tax due
a. P 650,000
О Б.Р 500,000
O c. P 550,000
O d. P 600,000
23. Assuming the corporation in question number 22 is foreign
corporation. What will be the income tax due *
a. P 600,000
О Б. Р650,000
с. Р360,000
O d. P300,000

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