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How much is the capital gains tax due

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    Assignment ID: FG133135872

    Question – During your audit of the books of Alarcon Corporation for the year ended December 31, 2021, you discovered that certain accrued expenses were overlooked at the end of 2014, 2015 and 2016.

    B domestic corporation in it’s fourth year of operation had the following transaction:

    Gain on sale of domestic shares sold directly to a buyer 500,000

    Gain on sale of land classified as capital asset with selling price of 4,500,000. zonal value of 3,000.000 and assessed value 2.000,000 800,000

    How much is the capital gains tax due?

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