The University of Saint Augustine Philippines (USAP)was a domestic educational institution established in 1432. It is the first to offer Accountancy, Law, and Medicine in Asia. It has produced many distinguished alumni including presidents, statemen, and saints. For the taxable year ending December 31, 2025, USAP had the following results of operations: Gross receipts 14,000,000 2,500,000 6,300,000 22,800,000 (13,450,000) 9,350,000 (5,240,000) 4,110,000 From tuition fees From rentals From sale of school merchandise Total gross receipts Less: Cost of services Gross profit Less: Operating profit Net income
The University of Saint Augustine Philippines (USAP)was a domestic educational institution established in 1432. It is the first to offer Accountancy, Law, and Medicine in Asia. It has produced many distinguished alumni including presidents, statemen, and saints. For the taxable year ending December 31, 2025, USAP had the following results of operations: Gross receipts 14,000,000 2,500,000 6,300,000 22,800,000 (13,450,000) 9,350,000 (5,240,000) 4,110,000 From tuition fees From rentals From sale of school merchandise Total gross receipts Less: Cost of services Gross profit Less: Operating profit Net income
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Question
. If USAP is a non-stock non-profit educational institution, how much is income tax due?
Transcribed Image Text:For Item 52
The University of Saint Augustine Philippines (USAP)was a domestic educational institution
established in 1432. It is the first to offer Accountancy, Law, and Medicine in Asia. It has
produced many distinguished alumni including presidents, statemen, and salnts. For the taxable
year ending December 31, 2025, USAP had the following results of operations:
Gross receipts
From tuition fees
From rentals
From sale of school merchandise
Total gross receipts
Less: Cost of services
Gross profit
Less: Operating profit
Net income
14,000,000
2,500,000
6,300,000
22,800,000
(13,450,000)
9,350,000
(5,240,000)
4.110,000
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