1. PROBLEM CSU Corporation: Assume the following data for the first…
Question Answered step-by-step 1. PROBLEM CSU Corporation: Assume the following data for the first… 1. PROBLEM CSU Corporation: Assume the following data for the first year of operations of CSU Corporation during the 2021 taxable year: Gross Income Philippines P11,780,000 ; Gross Income Hong Kong P2,340,000 ; Expenses Philippines P4,900,000 ; Expenses Hong Kong P448,000 ; Interest on Bank deposit P812,000…REQUIREMENT: Determine the Taxable Income if CSU Corporation is a domestic corporation. a. 8,872,000b. 7,872,000c. 8,772,000 2. PROBLEM Mr. Me: Using the data provided ,Gross Sales P1,972,103 Cost of Sales P274,100 Operating Expenses P58,043…REQUIREMENT: Determine the net income of Mr. Me assuming that he is a Purely Self Employed and/or Professional. a. 1,639,960b. 1,309,960c. 1,639,900 3. PROBLEM CSU Corporation: Assume the following data for the fifth year of operations (thus MCIT is applicable) of CSU Corporation during the 2021 taxable year: Gross Income Philippines P11,780,000 ; Gross Income Hong Kong P2,340,000 ; Expenses Philippines P4,900,000 ; Expenses Hong Kong P448,000 ; Interest on Bank deposit P812,000… REQUIREMENT: Determine the Income Tax Due if CSU Corporation is a Domestic corporation (Hint: choose the higher between RCIT and MCIT) a. 140,200b. 2,000,103c. 2,193,000d. 141,200 4. PROBLEM CSU Corporation : Assume the following data for the first year of operations of CSU Corporation during the 2021 taxable year: Gross Income Philippines P11,780,000 ; Gross Income Hong Kong P2,340,000 ; Expenses Philippines P4,900,000 ; Expenses Hong Kong P448,000 ; Interest on Bank deposit P812,000… REQUIREMENT: Determine the Taxable Income if CSU Corporation is a Resident foreign corporation. a. 6,860,000b. 6,880,000c. 6,680,000 5. PROBLEM CSU Corporation: Assume the following data for the fifth year of operations (thus MCIT is applicable) of CSU Corporation during the 2021 taxable year: Gross Income Philippines P11,780,000 ; Gross Income Hong Kong P2,340,000 ; Expenses Philippines P4,900,000 ; Expenses Hong Kong P448,000 ; Interest on Bank deposit P812,000… REQUIREMENT: Determine the Taxable Income if CSU Corporation is a Domestic corporation a. 7,870,000b. 8,772,000c. 8,700,000 Law Social Science Tax law TAXATION ACCT Share QuestionEmailCopy link Comments (0)
