Q1: How much is the total output tax?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question about SC and PWD discount TAX
MENA Corp., registered with BIR in 2019, has the following data for the year 2021:
| Gross Sales | 1,000,000 |
| PWD & SC Discounts given | 100,000 |
| Returns and allowance | 150,000 |
| Cost of Goods Sold | 300,000 |
| Salaries to personnel | 250,000 |
*20% was given to SCs while 25% is given to PWDs
Q1: How much is the total output tax? Answer:
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