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3. Computation of income tax. Simple Corporation, a corporation engaged in the business of manufacturing ready-to-wear clothes, gives you the data of its operation during the current year: P 3,000,000 7,000,000 Sales (domestic) Sales (abroad) Cost of goods sold (domestic and abroad) 5,000,000 Yield from depoşit substitute Expenses on domestic operation Expenses on sales abroad 400,000 1,000,000 2,000,000

3. Computation of income tax. Simple Corporation, a corporation engaged in the business of manufacturing ready-to-wear clothes, gives you the data of its operation during the current year: P 3,000,000 7,000,000 Sales (domestic) Sales (abroad) Cost of goods sold (domestic and abroad) 5,000,000 Yield from depoşit substitute Expenses on domestic operation Expenses on sales abroad 400,000 1,000,000 2,000,000

Essentials Of Investments
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
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If the value of its total assets do no exceed P100,000,000, compute for the income tax payable if the taxpayer is a nonresident foreign corporation. 

3. Computation of income tax. Simple Corporation, a corporation engaged in the business of manufacturing ready-to-wear clothes, gives you the data of its operation during the current year: P 3,000,000 7,000,000 Sales (domestic) Sales (abroad) Cost of goods sold (domestic and abroad) 5,000,000 t Yield from depoșit substitute Expenses on domestic operation Expenses on sales abroad 400,000 1,000,000 2,000,000 CS Scanned with CamScanner
Transcribed Image Text:3. Computation of income tax. Simple Corporation, a corporation engaged in the business of manufacturing ready-to-wear clothes, gives you the data of its operation during the current year: P 3,000,000 7,000,000 Sales (domestic) Sales (abroad) Cost of goods sold (domestic and abroad) 5,000,000 t Yield from depoșit substitute Expenses on domestic operation Expenses on sales abroad 400,000 1,000,000 2,000,000 CS Scanned with CamScanner
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