Homework Answers
BR = 6%
P = 9,000,000
ITR = 30%
B= BR(P-B-T)
T= TR(P-B)
0.06(9,000,000 - B - 0.30(9,000,000 - B)
0.06(9,000,000 - B - 2,700,000 +0.30B)
540,000 - 0.06B - 162,000 + 0.018B
1B = 378,000 - 0.042
1.042 = 378,000
1.042 1.042
= 362, 764
0.30 (9,000,000 - 362,764)
ANS: 2,591,171
| The correct answer is D. 2,591,171 | |
| Let profit after deduction for both bonus and corporate income tax be X | |
| Profit After Tax | X |
| Add: Corporate Income Tax (30/70 X) | 0.4285714 X |
| Add: Bonus (0.06X) | 0.06 X |
| Profit before bonus and Corporate Income Tax | 1.4885714 X |
| Now, | |
| 1.4885714 X = 9,000,000 | 6,046,065 |
| Then X = 6,046,065 | |
| Corporate Income Tax = (6,046,065 x 0.4285714 ) | 2,591,171 |
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