Based on the following amounts, how much is the income tax due based on the 25% regular corporate income tax rate? Gross sales 4,000,000.00 Sales discounts, returns and allowances 100,000.00 Cost of sales 1,500,000.00 Itemized deductions 800,000.00 Group of answer choices P975,000.00 P400,000.00 P600,000.00 P425,000.00
Based on the following amounts, how much is the income tax due based on the 25% regular corporate income tax rate? Gross sales 4,000,000.00 Sales discounts, returns and allowances 100,000.00 Cost of sales 1,500,000.00 Itemized deductions 800,000.00 Group of answer choices P975,000.00 P400,000.00 P600,000.00 P425,000.00
Chapter3: Cost-volume-profit Analysis
Section: Chapter Questions
Problem 8MC: A company has wants to earn an income of $60,000 after-taxes. If the tax rate is 32%, what must be...
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Based on the following amounts, how much is the income tax due based on the 25% regular corporate income tax rate?
Gross sales 4,000,000.00
Sales discounts, returns and allowances 100,000.00
Cost of sales 1,500,000.00
Itemized deductions 800,000.00
Group of answer choices
P975,000.00
P400,000.00
P600,000.00
P425,000.00
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