Assume that RLR Hospital is a private non-profit hospital which adopts a Calendar Year accounting period....

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Assume that RLR Hospital is a private non-profit hospital which adopts a Calendar Year accounting period. For year 2022, its Financial Statements showed the following: Hospital related activities - Gross receipts Cost of services Operating expenses or allowable deductions Unrelated business activities - Gross sales Cost of sales Operating expenses or allowable deductions Total assets excluding value of land where its hospital is situated P12,000,000 7,000,000 2,400,000 7,500,000 3,200,000 500,000 30,000,000 Required: a. Compute income tax payable by RLR Hospital for year 2022. b. Explain your answer. Assume the facts in the preceding exercise 1 pertain to taxable year 2024. Required: a. Compute income tax payable by RLR Hospital for year 2024. b. Explain your answer. Assume that RLR Hospital is a private non-profit hospital which adopts a Calendar Year accounting period. For year 2022, its Financial Statements showed the following: Hospital related activities - Gross receipts Cost of services Operating expenses or allowable deductions Unrelated business activities - Gross sales Cost of sales Operating expenses or allowable deductions Total assets excluding value of land where its hospital is situated P12,000,000 7,000,000 2,400,000 7,500,000 3,200,000 500,000 30,000,000 Required: a. Compute income tax payable by RLR Hospital for year 2022. b. Explain your answer. Assume the facts in the preceding exercise 1 pertain to taxable year 2024. Required: a. Compute income tax payable by RLR Hospital for year 2024. b. Explain your answer.

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a Comp ute income tax payable by R LR Hospital for year 2022 ANS WER In come Tax Pay able G ross Rece ipt s Cost of Services Operating Exp enses Allow ... View the full answer