FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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A Domestic Corporation has the following data on income and
1.
expenses:
Gross business income
Operating expenses including SSS and Philhealth
contributions of 150,000
Contributions to government for priority project in
education
Contributions to a foreign private foundation
Contribution to a domestic charitable organization 190,000
6.200,000
2,500,000
110,000
100,000
a) Determine the total amount of deductible charitable and other
contributions.
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Transcribed Image Text:A Domestic Corporation has the following data on income and 1. expenses: Gross business income Operating expenses including SSS and Philhealth contributions of 150,000 Contributions to government for priority project in education Contributions to a foreign private foundation Contribution to a domestic charitable organization 190,000 6.200,000 2,500,000 110,000 100,000 a) Determine the total amount of deductible charitable and other contributions.
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