Balance Sheet: Asset – Php 500,000 Liability – Php 100,000 Stockholders' Equity – Php 400,000 Income Statement: Gross sales – Php 10,000,000 Cost of sales – Php 3,000,000 Operating Expenses – Php 1,000,000 How much is the income tax due under CREATE Law if? the taxpayer is a domestic corporation a. 1,200,000 b. 70,000 c. 1,800,000 d. 1,500,000

Balance Sheet: Asset – Php 500,000 Liability – Php 100,000 Stockholders' Equity – Php 400,000 Income Statement: Gross sales – Php 10,000,000 Cost of sales – Php 3,000,000 Operating Expenses – Php 1,000,000 How much is the income tax due under CREATE Law if? the taxpayer is a domestic corporation a. 1,200,000 b. 70,000 c. 1,800,000 d. 1,500,000

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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