Hyzel Universal Company is a franchise holder of a radio broadcasting company and a water supply...

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Hyzel Universal Company is a franchise holder of a radio broadcasting company and a water supply provider in Cotabato City. The following data are provided during the current taxable year: Gross receipts from radio operations Gross receipts from water supply operations Total gross receipts Less: Operating expenses Net income P 9,000,000 3,500,000 P12,500,000 6,200,000 P 6,300,000 Required: Compute for the percentage tax due of the franchise. Hyzel Universal Company is a franchise holder of a radio broadcasting company and a water supply provider in Cotabato City. The following data are provided during the current taxable year: Gross receipts from radio operations Gross receipts from water supply operations Total gross receipts Less: Operating expenses Net income P 9,000,000 3,500,000 P12,500,000 6,200,000 P 6,300,000 Required: Compute for the percentage tax due of the franchise.

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Computing the Percentage Tax Due for Hyzel Universal Company Step 1 Identify the a... View the full answer