Answered: the amount of income

Business

Accounting

the amount of 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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Question

Consider the following given information below:

Total Income P1,321,000

Total Distribution Cost 268,900

Total Administrative Cost 250,200

Other Expenses 8,000

Interest Expense 9,000

Total Expenses 536,100

Income Tax Expense 235,500

What is the amount of income before tax to be reflected in the income statement?

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