BC Inc., registered with BIR in 2X12, has the following data or the year 2018 Gross receipts P1,150,000 Discounts and 250,000 allowances Salaries of personnel directly 300,000 involved in rendering service Salaries of administrative 100,000 personnel Fees of consultants directly 50,000 involved in rendering service Rental of equipment used in 70,000 rendering service Rental of office space 50,000 for use of administrative personnel Other operating 420,000 expenses • The GROSS INCOME is: 1. The TAXABLE INCOME (LOSS) is: 2 The INCOME TAX DUE AND PAYABLE is: 3.
BC Inc., registered with BIR in 2X12, has the following data or the year 2018 Gross receipts P1,150,000 Discounts and 250,000 allowances Salaries of personnel directly 300,000 involved in rendering service Salaries of administrative 100,000 personnel Fees of consultants directly 50,000 involved in rendering service Rental of equipment used in 70,000 rendering service Rental of office space 50,000 for use of administrative personnel Other operating 420,000 expenses • The GROSS INCOME is: 1. The TAXABLE INCOME (LOSS) is: 2 The INCOME TAX DUE AND PAYABLE is: 3.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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