Mal Corporation with total assets of P50,000,000, excluding the land on which its busines situated, has...

 

Transcribed Image Text:

Mal Corporation with total assets of P50,000,000, excluding the land on which its busines situated, has the following data for the year 2021: Gross Income, Philippines Gross income, USA Expenses, Philippines Expenses, USA Other Income: Dividend from San Miguel Corp. Dividend from Ford Motors, USA Gain, sale of San Miguel shares directly to buyer Royalties, Philippines Royalties, USA Interest income from bank deposit Rent, land in USA Other rental income (Phils.) Prize, contest in Manila Interest income ($ deposit in New York Bank) P2,000,000 600,000 1,200,000 300,000 Resident Corporation 13. Tax Due 70,000 120,000 150,000 80,000 100,000 90,000 250,000 100,000 9,000 50,000 There was a sale of Land held on PH which resulted to a loss of 500,000. Cost 1,500,000 Domestic Corporation 10. Tax Due 11. Final Tax on Passive Income 12. CGT Mal Corporation with total assets of P50,000,000, excluding the land on which its busines situated, has the following data for the year 2021: Gross Income, Philippines Gross income, USA Expenses, Philippines Expenses, USA Other Income: Dividend from San Miguel Corp. Dividend from Ford Motors, USA Gain, sale of San Miguel shares directly to buyer Royalties, Philippines Royalties, USA Interest income from bank deposit Rent, land in USA Other rental income (Phils.) Prize, contest in Manila Interest income ($ deposit in New York Bank) P2,000,000 600,000 1,200,000 300,000 Resident Corporation 13. Tax Due 70,000 120,000 150,000 80,000 100,000 90,000 250,000 100,000 9,000 50,000 There was a sale of Land held on PH which resulted to a loss of 500,000. Cost 1,500,000 Domestic Corporation 10. Tax Due 11. Final Tax on Passive Income 12. CGT

Answer rating: 100% (QA)

Domestic Corporation 10 Tax Due Gross Income Philippines Other Income Philippines P2000000 P70000 P1... View the full answer