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Determine the net income before other income

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Reference no: EM132802568

Question - T Corporation, a domestic corporation has the following record of income and expense during the year:

Gross income P1,540,000

Expenses 654,000

Dividend from a resident foreign corporation 95,000

Royalties, Philippines 230,000

Royalties, US 175,000

Interest on time deposit with Metrobank 18,000

Interest on money market placement 25,000

Required -

1. Determine the net income before other income?

2. Determine the total final withhold?

3. Determine the taxes on T Corporation?

Reference no: EM132802568

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