XY is a domestic corporation in the Philippines. The taxable period is 2020 year gross income deductions 2016 4,000,000 6,000,000 2017 5,000,000 4,500,00 2018 6,000,000 6,300,000 2019 7,000,000 6,800,000 2020 6,000,000 5,800,000 2021 6,000,000 5,000,000 Compute for the (Net operating loss carry over) claimable in 2021. Show computation A. Zero B. 100,000 C. 200,000 D. 300,000
XY is a domestic corporation in the Philippines. The taxable period is 2020 year gross income deductions 2016 4,000,000 6,000,000 2017 5,000,000 4,500,00 2018 6,000,000 6,300,000 2019 7,000,000 6,800,000 2020 6,000,000 5,800,000 2021 6,000,000 5,000,000 Compute for the (Net operating loss carry over) claimable in 2021. Show computation A. Zero B. 100,000 C. 200,000 D. 300,000
Chapter25: Taxation Of International Transact Ions
Section: Chapter Questions
Problem 32P
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XY is a domestic corporation in the Philippines. The taxable period is 2020
| year | gross income | deductions |
| 2016 | 4,000,000 | 6,000,000 |
| 2017 | 5,000,000 | 4,500,00 |
| 2018 | 6,000,000 | 6,300,000 |
| 2019 | 7,000,000 | 6,800,000 |
| 2020 | 6,000,000 | 5,800,000 |
| 2021 | 6,000,000 | 5,000,000 |
Compute for the (Net operating loss carry over) claimable in 2021. Show computation
A. Zero B. 100,000 C. 200,000 D. 300,000
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