Use the following information for questions 59 & 60 LANTERN Company started operations on January 1, 2022. During the year, the company incurred the following: Contract price for new building New permanent fence surrounding the new building Driveways and parking bays Saving on construction Taxes in arrears assumed by LANTERN Safety inspection on new building Service equipment made as permanent part of the building Excavation Cost Architect fee Payment to city hall for approval of building construction Removal of safety fence after completion of new building Cost of changes to plans and specifications due to incompetence Safety fence around construction site Payment for land 9. Compute for the cost of the Land A. P2,100,000 B. P2,200,000 O. Compute for the cost of the Building A. P13,370,000 B. P12,570,000 C. P2,300,000 C. P12,970,000 9,600,000 190,000 700,000 400,000 200,000 160,000 2,100,000 300,000 560,000 340,000 140,000 320,000 170,000 2,100,000 D. P2,400,000 D. P14,070,000
Use the following information for questions 59 & 60 LANTERN Company started operations on January 1, 2022. During the year, the company incurred the following: Contract price for new building New permanent fence surrounding the new building Driveways and parking bays Saving on construction Taxes in arrears assumed by LANTERN Safety inspection on new building Service equipment made as permanent part of the building Excavation Cost Architect fee Payment to city hall for approval of building construction Removal of safety fence after completion of new building Cost of changes to plans and specifications due to incompetence Safety fence around construction site Payment for land 9. Compute for the cost of the Land A. P2,100,000 B. P2,200,000 O. Compute for the cost of the Building A. P13,370,000 B. P12,570,000 C. P2,300,000 C. P12,970,000 9,600,000 190,000 700,000 400,000 200,000 160,000 2,100,000 300,000 560,000 340,000 140,000 320,000 170,000 2,100,000 D. P2,400,000 D. P14,070,000
SWFT Essntl Tax Individ/Bus Entities 2020
23rd Edition
ISBN:9780357391266
Author:Nellen
Publisher:Nellen
Chapter17: Business Tax Credits And The Alternative Minimum Tax
Section: Chapter Questions
Problem 11P
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