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What adjusted net income before income tax is

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Reference no: EM132855921

The following are taken from the income statement of Mayaman Corporation for the taxable year of 2019:

Gross profit on sales 1,000,000
Less:
Provision for bad debts -450,000
Deductible expenses -100,000
Net income before tax 450,000
Other information:

Accounts written off and charged to allowance was P70,000

Question 1: Recoveries of accounts receivable and previously written off in 2018 and credited to allowance for bad debts, P50,000 allowed by the Bureau of Internal Revenue, Adjusted net income before income tax is?

Reference no: EM132855921

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