29. On June 30, 2021, Mill Corp. incurred a 100,000 net loss from disposal of a business segment. Also, on June 30, 2021, Mill paid 40,000 for property taxes assessed for the calendar year 2021. What amount of the foregoing items should be included in the determination of Mill’s net income or loss for the six-month interim period ended June 30, 2021? choices: P140,000 P120,000 P90,000 P70,000
29. On June 30, 2021, Mill Corp. incurred a 100,000 net loss from disposal of a business segment. Also, on June 30, 2021, Mill paid 40,000 for property taxes assessed for the calendar year 2021. What amount of the foregoing items should be included in the determination of Mill’s net income or loss for the six-month interim period ended June 30, 2021? choices: P140,000 P120,000 P90,000 P70,000
Chapter12: Tax Credits And Payments
Section: Chapter Questions
Problem 23P
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29. On June 30, 2021, Mill Corp. incurred a 100,000 net loss from disposal of a business segment. Also, on June 30, 2021, Mill paid 40,000 for property taxes assessed for the calendar year 2021. What amount of the foregoing items should be included in the determination of Mill’s net income or loss for the six-month interim period ended June 30, 2021?
choices:
P140,000
P120,000
P90,000
P70,000
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