22. A domestic corporation has a net income of P1,200,000 in thePhilippines and P800,000 from abroad. Compute the income tax duea. P 650,000О Б.Р 500,000O c. P 550,000O d. P 600,00023. Assuming the corporation in question number 22 is foreigncorporation. What will be the income tax due *a. P 600,000О Б. Р650,000с. Р360,000O d. P300,000

calculation of taxable net income Net income (Philippine) 12,00,000 income (Abroad)…

Answered: nilippines and PE a. P 650,000

Business

Accounting

nilippines and PE a. P 650,000

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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Kapangan Inc. manufactures products R, S and I from a joint process. Additional information follows: R S TOTAL Units 8,000 4,000 2,000 14,000 Joint Costs ? ? P18,000 P120,000 Sales value @ split-off Further Processing costs P120,000 ? ? P200,000 P14,000 P10,000 P6,000 P30,000 Sales value of FG P140,000 P60,000 P50,000 P250,000 Using the sale value at split-off, how much is the: joint cost allocated to S?
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