Illustration Data as of March 31, 2022 (amounts inclusive of VAT) CashSales 652,000 AccountSales 548,640 SalesReturns 56,000 GoodsonConsignment January1,2022 March1,2022 23,600 50,400 GoodsTakenaspaymenttocreditors 94,000 Purchaseofmerchandiseandsupplies 392,000 Telephonebillondomesticcalls 11,200 ...

In the Philippines the Value Added Tax VAT is a consumption tax imposed on the sale of goods and ser ...

Illustration: Data as of March 31, 2022 (amounts inclusive of VAT): CashSales 652,000 AccountSales 548,640 SalesReturns 56,000

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Illustration: Data as of March 31, 2022 (amounts inclusive of VAT):

CashSales	652,000
AccountSales	548,640
SalesReturns	56,000
GoodsonConsignment: January1,2022 March1,2022	23,600 50,400
GoodsTakenaspaymenttocreditors	94,000
Purchaseofmerchandiseandsupplies	392,000
Telephonebillondomesticcalls	11,200

Required:

Determine the VAT payable Subject: Business Taxation

Country: Philippines

Related Book For answer-question

College Accounting A Practical Approach

ISBN: 978-0132564441

11th Canadian Edition

Authors: Jeffrey Slater, Brian Zwicker

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Posted Date: Feb 15, 2024 10:50 PM

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Illustration: Data as of March 31, 2022 (amounts inclusive of VAT): CashSales 652,000 AccountSales 548,640 SalesReturns 56,000

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College Accounting A Practical Approach

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