ZAX, resident foreign corporation, reports the following: Philippines P15,000,000 P25,000,000 1,500,000 Abroad Gross income from business Dividends from ABC domestic corporation Dividends form DEF foreign corporation Interest on long-term deposits Rentals on properties Total 3,000,000 25,000 2,000,000 P17,450,000 P30,025,000 50,000 900,000 Compute the gross income of ZAX subject to regular income tax in the Philippines.

ZAX, resident foreign corporation, reports the following: Philippines P15,000,000 P25,000,000 1,500,000 Abroad Gross income from business Dividends from ABC domestic corporation Dividends form DEF foreign corporation Interest on long-term deposits Rentals on properties Total 3,000,000 25,000 2,000,000 P17,450,000 P30,025,000 50,000 900,000 Compute the gross income of ZAX subject to regular income tax in the Philippines.

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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