Omega Corporation is engaged in a business subject to value added tax and another business which...
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Omega Corporation is engaged in a business subject to value added tax and another business which is not subject to value added tax Omega's business data for the current year were provided as follows Sales, VAT business, invoice amount Sales, non-VAT business Purchases of goods, VAT business, invoice amount Purchases of goods for non-VAT business, inclusive of input tax Purchase of depreciable asset for common use, VAT included Purchase of supplies for common use, VAT included Rental of premises for both types of business. The lessor is non-VAT registered Answer the following: 1. Total sales subject to Input VAT is 2. Total Input VAT is 3 Total Output VAT is 4 Total VAT payable is P896,0000 200,000 224,000 33,600 112,000 2,240 22,400 Corona imported merchandise for resale. Using the following information, determine the VAT on the importation before the same can be release from customs custody. CIF (cost, insurance, freight) value Charges/expenses incurred in claiming the goods Wharfage Arrastre Customs duty Brokerage fee and documentary stamps Facilitation expense Marine cargo insurance Other charges Freight from customs to warehouse (VAT exclusive) Determine the following: 1. Total amount of importation subject to VAT is 2. Total Input VAT is 3 Total Output VAT is 4 Total VAT payable is P229,195 1,540 2,295 4,090 330 3,000 2,550 5,000 Kiddo Grill, a VAT registered business in Cavite, has the following data (exclusive of VAT) for the third quarter of the current year Sales, food and beverages Sales, wines and beer Purchases, food and beverages VAT business Purchases, wines and beers-VAT business Determine the following 1. Total sales subject to VAT is 2 Total Output VAT is 3. Total Input VAT is 4. Total VAT payable is 370 P2,805,500 1,524,000 1,102,200 1,012,500 Hana Corporation has the following sales and purchases for the quarter ending December 31, 2018: October Sales | P50,000 Purchases 40,000 100,000 Purchases 80,000 November & December Sales Carry-over Input tax from previous quarter is P6,000. Answer the following: 1. Total purchase subject to Input VAT is 2. Total Output VAT for the 3rd quarter is 3. Total Input VAT for the 3rd quarter is 4. VAT payable carry-over in the 4th quarter is David Bookstore, VAT registered, is engaged in the business of selling books, school supplies and gift items. The following were provided to you during the month of October (inclusive of VAT, if applicable) Sales of school supplies Sale of books Sale of gift items Purchase of school supplies and gift items for sale Purchase of books Purchase of computers used in Vatable and non-Vatable transactions Purchase of office supplies used in Vatable and non-Vatable transactions from non-vat registered supplies Answer the following: 1. Total sales subject to VAT is 2. Output VAT is 3. Input VAT is 4. VAT payable is P1,680,000 1,200,000 1,008,000 1,344,000 600,000 448,000 200,000 The following data during the month relates to William Corporation, VAT registered person (amounts are VAT inclusive): Domestic sales Domestic sales to export traders Export sales Purchases of goods for domestic sales Purchases of supplies on domestic sales Purchase of service Purchase of goods for export Determine the following: 1. Total purchases subject to Input VAT is 2. Total Input VAT is 3. Total sale subject to Output VAT is 4. Total Output VAT is P330,000 274,996 200,000 374,000 69,848 154,000 55,000 Canor is a VAT registered taxpayer. It had the following data for the month of January (VAT inclusive): Cash sales, invoice amount Sales on account Purchases Consignment: Less than 60 days More than 60 days Goods paid to creditors (dacion en pago) Goods given as Christmas gift to employees Property dividend to stockholders Answer the following 1. Total sales subject to VAT is 2. Total Output VAT is 3. Total Input VAT is 4. The amount of VAT payable is P660,800 246,400 291,200 38,500 22,400 16,800 19,040 8,960 Omega Corporation is engaged in a business subject to value added tax and another business which is not subject to value added tax Omega's business data for the current year were provided as follows Sales, VAT business, invoice amount Sales, non-VAT business Purchases of goods, VAT business, invoice amount Purchases of goods for non-VAT business, inclusive of input tax Purchase of depreciable asset for common use, VAT included Purchase of supplies for common use, VAT included Rental of premises for both types of business. The lessor is non-VAT registered Answer the following: 1. Total sales subject to Input VAT is 2. Total Input VAT is 3 Total Output VAT is 4 Total VAT payable is P896,0000 200,000 224,000 33,600 112,000 2,240 22,400 Corona imported merchandise for resale. Using the following information, determine the VAT on the importation before the same can be release from customs custody. CIF (cost, insurance, freight) value Charges/expenses incurred in claiming the goods Wharfage Arrastre Customs duty Brokerage fee and documentary stamps Facilitation expense Marine cargo insurance Other charges Freight from customs to warehouse (VAT exclusive) Determine the following: 1. Total amount of importation subject to VAT is 2. Total Input VAT is 3 Total Output VAT is 4 Total VAT payable is P229,195 1,540 2,295 4,090 330 3,000 2,550 5,000 Kiddo Grill, a VAT registered business in Cavite, has the following data (exclusive of VAT) for the third quarter of the current year Sales, food and beverages Sales, wines and beer Purchases, food and beverages VAT business Purchases, wines and beers-VAT business Determine the following 1. Total sales subject to VAT is 2 Total Output VAT is 3. Total Input VAT is 4. Total VAT payable is 370 P2,805,500 1,524,000 1,102,200 1,012,500 Hana Corporation has the following sales and purchases for the quarter ending December 31, 2018: October Sales | P50,000 Purchases 40,000 100,000 Purchases 80,000 November & December Sales Carry-over Input tax from previous quarter is P6,000. Answer the following: 1. Total purchase subject to Input VAT is 2. Total Output VAT for the 3rd quarter is 3. Total Input VAT for the 3rd quarter is 4. VAT payable carry-over in the 4th quarter is David Bookstore, VAT registered, is engaged in the business of selling books, school supplies and gift items. The following were provided to you during the month of October (inclusive of VAT, if applicable) Sales of school supplies Sale of books Sale of gift items Purchase of school supplies and gift items for sale Purchase of books Purchase of computers used in Vatable and non-Vatable transactions Purchase of office supplies used in Vatable and non-Vatable transactions from non-vat registered supplies Answer the following: 1. Total sales subject to VAT is 2. Output VAT is 3. Input VAT is 4. VAT payable is P1,680,000 1,200,000 1,008,000 1,344,000 600,000 448,000 200,000 The following data during the month relates to William Corporation, VAT registered person (amounts are VAT inclusive): Domestic sales Domestic sales to export traders Export sales Purchases of goods for domestic sales Purchases of supplies on domestic sales Purchase of service Purchase of goods for export Determine the following: 1. Total purchases subject to Input VAT is 2. Total Input VAT is 3. Total sale subject to Output VAT is 4. Total Output VAT is P330,000 274,996 200,000 374,000 69,848 154,000 55,000 Canor is a VAT registered taxpayer. It had the following data for the month of January (VAT inclusive): Cash sales, invoice amount Sales on account Purchases Consignment: Less than 60 days More than 60 days Goods paid to creditors (dacion en pago) Goods given as Christmas gift to employees Property dividend to stockholders Answer the following 1. Total sales subject to VAT is 2. Total Output VAT is 3. Total Input VAT is 4. The amount of VAT payable is P660,800 246,400 291,200 38,500 22,400 16,800 19,040 8,960 Omega Corporation is engaged in a business subject to value added tax and another business which is not subject to value added tax Omega's business data for the current year were provided as follows Sales, VAT business, invoice amount Sales, non-VAT business Purchases of goods, VAT business, invoice amount Purchases of goods for non-VAT business, inclusive of input tax Purchase of depreciable asset for common use, VAT included Purchase of supplies for common use, VAT included Rental of premises for both types of business. The lessor is non-VAT registered Answer the following: 1. Total sales subject to Input VAT is 2. Total Input VAT is 3 Total Output VAT is 4 Total VAT payable is P896,0000 200,000 224,000 33,600 112,000 2,240 22,400 Corona imported merchandise for resale. Using the following information, determine the VAT on the importation before the same can be release from customs custody. CIF (cost, insurance, freight) value Charges/expenses incurred in claiming the goods Wharfage Arrastre Customs duty Brokerage fee and documentary stamps Facilitation expense Marine cargo insurance Other charges Freight from customs to warehouse (VAT exclusive) Determine the following: 1. Total amount of importation subject to VAT is 2. Total Input VAT is 3 Total Output VAT is 4 Total VAT payable is P229,195 1,540 2,295 4,090 330 3,000 2,550 5,000 Kiddo Grill, a VAT registered business in Cavite, has the following data (exclusive of VAT) for the third quarter of the current year Sales, food and beverages Sales, wines and beer Purchases, food and beverages VAT business Purchases, wines and beers-VAT business Determine the following 1. Total sales subject to VAT is 2 Total Output VAT is 3. Total Input VAT is 4. Total VAT payable is 370 P2,805,500 1,524,000 1,102,200 1,012,500 Hana Corporation has the following sales and purchases for the quarter ending December 31, 2018: October Sales | P50,000 Purchases 40,000 100,000 Purchases 80,000 November & December Sales Carry-over Input tax from previous quarter is P6,000. Answer the following: 1. Total purchase subject to Input VAT is 2. Total Output VAT for the 3rd quarter is 3. Total Input VAT for the 3rd quarter is 4. VAT payable carry-over in the 4th quarter is David Bookstore, VAT registered, is engaged in the business of selling books, school supplies and gift items. The following were provided to you during the month of October (inclusive of VAT, if applicable) Sales of school supplies Sale of books Sale of gift items Purchase of school supplies and gift items for sale Purchase of books Purchase of computers used in Vatable and non-Vatable transactions Purchase of office supplies used in Vatable and non-Vatable transactions from non-vat registered supplies Answer the following: 1. Total sales subject to VAT is 2. Output VAT is 3. Input VAT is 4. VAT payable is P1,680,000 1,200,000 1,008,000 1,344,000 600,000 448,000 200,000 The following data during the month relates to William Corporation, VAT registered person (amounts are VAT inclusive): Domestic sales Domestic sales to export traders Export sales Purchases of goods for domestic sales Purchases of supplies on domestic sales Purchase of service Purchase of goods for export Determine the following: 1. Total purchases subject to Input VAT is 2. Total Input VAT is 3. Total sale subject to Output VAT is 4. Total Output VAT is P330,000 274,996 200,000 374,000 69,848 154,000 55,000 Canor is a VAT registered taxpayer. It had the following data for the month of January (VAT inclusive): Cash sales, invoice amount Sales on account Purchases Consignment: Less than 60 days More than 60 days Goods paid to creditors (dacion en pago) Goods given as Christmas gift to employees Property dividend to stockholders Answer the following 1. Total sales subject to VAT is 2. Total Output VAT is 3. Total Input VAT is 4. The amount of VAT payable is P660,800 246,400 291,200 38,500 22,400 16,800 19,040 8,960 Omega Corporation is engaged in a business subject to value added tax and another business which is not subject to value added tax Omega's business data for the current year were provided as follows Sales, VAT business, invoice amount Sales, non-VAT business Purchases of goods, VAT business, invoice amount Purchases of goods for non-VAT business, inclusive of input tax Purchase of depreciable asset for common use, VAT included Purchase of supplies for common use, VAT included Rental of premises for both types of business. The lessor is non-VAT registered Answer the following: 1. Total sales subject to Input VAT is 2. Total Input VAT is 3 Total Output VAT is 4 Total VAT payable is P896,0000 200,000 224,000 33,600 112,000 2,240 22,400 Corona imported merchandise for resale. Using the following information, determine the VAT on the importation before the same can be release from customs custody. CIF (cost, insurance, freight) value Charges/expenses incurred in claiming the goods Wharfage Arrastre Customs duty Brokerage fee and documentary stamps Facilitation expense Marine cargo insurance Other charges Freight from customs to warehouse (VAT exclusive) Determine the following: 1. Total amount of importation subject to VAT is 2. Total Input VAT is 3 Total Output VAT is 4 Total VAT payable is P229,195 1,540 2,295 4,090 330 3,000 2,550 5,000 Kiddo Grill, a VAT registered business in Cavite, has the following data (exclusive of VAT) for the third quarter of the current year Sales, food and beverages Sales, wines and beer Purchases, food and beverages VAT business Purchases, wines and beers-VAT business Determine the following 1. Total sales subject to VAT is 2 Total Output VAT is 3. Total Input VAT is 4. Total VAT payable is 370 P2,805,500 1,524,000 1,102,200 1,012,500 Hana Corporation has the following sales and purchases for the quarter ending December 31, 2018: October Sales | P50,000 Purchases 40,000 100,000 Purchases 80,000 November & December Sales Carry-over Input tax from previous quarter is P6,000. Answer the following: 1. Total purchase subject to Input VAT is 2. Total Output VAT for the 3rd quarter is 3. Total Input VAT for the 3rd quarter is 4. VAT payable carry-over in the 4th quarter is David Bookstore, VAT registered, is engaged in the business of selling books, school supplies and gift items. The following were provided to you during the month of October (inclusive of VAT, if applicable) Sales of school supplies Sale of books Sale of gift items Purchase of school supplies and gift items for sale Purchase of books Purchase of computers used in Vatable and non-Vatable transactions Purchase of office supplies used in Vatable and non-Vatable transactions from non-vat registered supplies Answer the following: 1. Total sales subject to VAT is 2. Output VAT is 3. Input VAT is 4. VAT payable is P1,680,000 1,200,000 1,008,000 1,344,000 600,000 448,000 200,000 The following data during the month relates to William Corporation, VAT registered person (amounts are VAT inclusive): Domestic sales Domestic sales to export traders Export sales Purchases of goods for domestic sales Purchases of supplies on domestic sales Purchase of service Purchase of goods for export Determine the following: 1. Total purchases subject to Input VAT is 2. Total Input VAT is 3. Total sale subject to Output VAT is 4. Total Output VAT is P330,000 274,996 200,000 374,000 69,848 154,000 55,000 Canor is a VAT registered taxpayer. It had the following data for the month of January (VAT inclusive): Cash sales, invoice amount Sales on account Purchases Consignment: Less than 60 days More than 60 days Goods paid to creditors (dacion en pago) Goods given as Christmas gift to employees Property dividend to stockholders Answer the following 1. Total sales subject to VAT is 2. Total Output VAT is 3. Total Input VAT is 4. The amount of VAT payable is P660,800 246,400 291,200 38,500 22,400 16,800 19,040 8,960 Omega Corporation is engaged in a business subject to value added tax and another business which is not subject to value added tax Omega's business data for the current year were provided as follows Sales, VAT business, invoice amount Sales, non-VAT business Purchases of goods, VAT business, invoice amount Purchases of goods for non-VAT business, inclusive of input tax Purchase of depreciable asset for common use, VAT included Purchase of supplies for common use, VAT included Rental of premises for both types of business. The lessor is non-VAT registered Answer the following: 1. Total sales subject to Input VAT is 2. Total Input VAT is 3 Total Output VAT is 4 Total VAT payable is P896,0000 200,000 224,000 33,600 112,000 2,240 22,400 Corona imported merchandise for resale. Using the following information, determine the VAT on the importation before the same can be release from customs custody. CIF (cost, insurance, freight) value Charges/expenses incurred in claiming the goods Wharfage Arrastre Customs duty Brokerage fee and documentary stamps Facilitation expense Marine cargo insurance Other charges Freight from customs to warehouse (VAT exclusive) Determine the following: 1. Total amount of importation subject to VAT is 2. Total Input VAT is 3 Total Output VAT is 4 Total VAT payable is P229,195 1,540 2,295 4,090 330 3,000 2,550 5,000 Kiddo Grill, a VAT registered business in Cavite, has the following data (exclusive of VAT) for the third quarter of the current year Sales, food and beverages Sales, wines and beer Purchases, food and beverages VAT business Purchases, wines and beers-VAT business Determine the following 1. Total sales subject to VAT is 2 Total Output VAT is 3. Total Input VAT is 4. Total VAT payable is 370 P2,805,500 1,524,000 1,102,200 1,012,500 Hana Corporation has the following sales and purchases for the quarter ending December 31, 2018: October Sales | P50,000 Purchases 40,000 100,000 Purchases 80,000 November & December Sales Carry-over Input tax from previous quarter is P6,000. Answer the following: 1. Total purchase subject to Input VAT is 2. Total Output VAT for the 3rd quarter is 3. Total Input VAT for the 3rd quarter is 4. VAT payable carry-over in the 4th quarter is David Bookstore, VAT registered, is engaged in the business of selling books, school supplies and gift items. The following were provided to you during the month of October (inclusive of VAT, if applicable) Sales of school supplies Sale of books Sale of gift items Purchase of school supplies and gift items for sale Purchase of books Purchase of computers used in Vatable and non-Vatable transactions Purchase of office supplies used in Vatable and non-Vatable transactions from non-vat registered supplies Answer the following: 1. Total sales subject to VAT is 2. Output VAT is 3. Input VAT is 4. VAT payable is P1,680,000 1,200,000 1,008,000 1,344,000 600,000 448,000 200,000 The following data during the month relates to William Corporation, VAT registered person (amounts are VAT inclusive): Domestic sales Domestic sales to export traders Export sales Purchases of goods for domestic sales Purchases of supplies on domestic sales Purchase of service Purchase of goods for export Determine the following: 1. Total purchases subject to Input VAT is 2. Total Input VAT is 3. Total sale subject to Output VAT is 4. Total Output VAT is P330,000 274,996 200,000 374,000 69,848 154,000 55,000 Canor is a VAT registered taxpayer. It had the following data for the month of January (VAT inclusive): Cash sales, invoice amount Sales on account Purchases Consignment: Less than 60 days More than 60 days Goods paid to creditors (dacion en pago) Goods given as Christmas gift to employees Property dividend to stockholders Answer the following 1. Total sales subject to VAT is 2. Total Output VAT is 3. Total Input VAT is 4. The amount of VAT payable is P660,800 246,400 291,200 38,500 22,400 16,800 19,040 8,960 Omega Corporation is engaged in a business subject to value added tax and another business which is not subject to value added tax Omega's business data for the current year were provided as follows Sales, VAT business, invoice amount Sales, non-VAT business Purchases of goods, VAT business, invoice amount Purchases of goods for non-VAT business, inclusive of input tax Purchase of depreciable asset for common use, VAT included Purchase of supplies for common use, VAT included Rental of premises for both types of business. The lessor is non-VAT registered Answer the following: 1. Total sales subject to Input VAT is 2. Total Input VAT is 3 Total Output VAT is 4 Total VAT payable is P896,0000 200,000 224,000 33,600 112,000 2,240 22,400 Corona imported merchandise for resale. Using the following information, determine the VAT on the importation before the same can be release from customs custody. CIF (cost, insurance, freight) value Charges/expenses incurred in claiming the goods Wharfage Arrastre Customs duty Brokerage fee and documentary stamps Facilitation expense Marine cargo insurance Other charges Freight from customs to warehouse (VAT exclusive) Determine the following: 1. Total amount of importation subject to VAT is 2. Total Input VAT is 3 Total Output VAT is 4 Total VAT payable is P229,195 1,540 2,295 4,090 330 3,000 2,550 5,000 Kiddo Grill, a VAT registered business in Cavite, has the following data (exclusive of VAT) for the third quarter of the current year Sales, food and beverages Sales, wines and beer Purchases, food and beverages VAT business Purchases, wines and beers-VAT business Determine the following 1. Total sales subject to VAT is 2 Total Output VAT is 3. Total Input VAT is 4. Total VAT payable is 370 P2,805,500 1,524,000 1,102,200 1,012,500 Hana Corporation has the following sales and purchases for the quarter ending December 31, 2018: October Sales | P50,000 Purchases 40,000 100,000 Purchases 80,000 November & December Sales Carry-over Input tax from previous quarter is P6,000. Answer the following: 1. Total purchase subject to Input VAT is 2. Total Output VAT for the 3rd quarter is 3. Total Input VAT for the 3rd quarter is 4. VAT payable carry-over in the 4th quarter is David Bookstore, VAT registered, is engaged in the business of selling books, school supplies and gift items. The following were provided to you during the month of October (inclusive of VAT, if applicable) Sales of school supplies Sale of books Sale of gift items Purchase of school supplies and gift items for sale Purchase of books Purchase of computers used in Vatable and non-Vatable transactions Purchase of office supplies used in Vatable and non-Vatable transactions from non-vat registered supplies Answer the following: 1. Total sales subject to VAT is 2. Output VAT is 3. Input VAT is 4. VAT payable is P1,680,000 1,200,000 1,008,000 1,344,000 600,000 448,000 200,000 The following data during the month relates to William Corporation, VAT registered person (amounts are VAT inclusive): Domestic sales Domestic sales to export traders Export sales Purchases of goods for domestic sales Purchases of supplies on domestic sales Purchase of service Purchase of goods for export Determine the following: 1. Total purchases subject to Input VAT is 2. Total Input VAT is 3. Total sale subject to Output VAT is 4. Total Output VAT is P330,000 274,996 200,000 374,000 69,848 154,000 55,000 Canor is a VAT registered taxpayer. It had the following data for the month of January (VAT inclusive): Cash sales, invoice amount Sales on account Purchases Consignment: Less than 60 days More than 60 days Goods paid to creditors (dacion en pago) Goods given as Christmas gift to employees Property dividend to stockholders Answer the following 1. Total sales subject to VAT is 2. Total Output VAT is 3. Total Input VAT is 4. The amount of VAT payable is P660,800 246,400 291,200 38,500 22,400 16,800 19,040 8,960 Omega Corporation is engaged in a business subject to value added tax and another business which is not subject to value added tax Omega's business data for the current year were provided as follows Sales, VAT business, invoice amount Sales, non-VAT business Purchases of goods, VAT business, invoice amount Purchases of goods for non-VAT business, inclusive of input tax Purchase of depreciable asset for common use, VAT included Purchase of supplies for common use, VAT included Rental of premises for both types of business. The lessor is non-VAT registered Answer the following: 1. Total sales subject to Input VAT is 2. Total Input VAT is 3 Total Output VAT is 4 Total VAT payable is P896,0000 200,000 224,000 33,600 112,000 2,240 22,400 Corona imported merchandise for resale. Using the following information, determine the VAT on the importation before the same can be release from customs custody. CIF (cost, insurance, freight) value Charges/expenses incurred in claiming the goods Wharfage Arrastre Customs duty Brokerage fee and documentary stamps Facilitation expense Marine cargo insurance Other charges Freight from customs to warehouse (VAT exclusive) Determine the following: 1. Total amount of importation subject to VAT is 2. Total Input VAT is 3 Total Output VAT is 4 Total VAT payable is P229,195 1,540 2,295 4,090 330 3,000 2,550 5,000 Kiddo Grill, a VAT registered business in Cavite, has the following data (exclusive of VAT) for the third quarter of the current year Sales, food and beverages Sales, wines and beer Purchases, food and beverages VAT business Purchases, wines and beers-VAT business Determine the following 1. Total sales subject to VAT is 2 Total Output VAT is 3. Total Input VAT is 4. Total VAT payable is 370 P2,805,500 1,524,000 1,102,200 1,012,500 Hana Corporation has the following sales and purchases for the quarter ending December 31, 2018: October Sales | P50,000 Purchases 40,000 100,000 Purchases 80,000 November & December Sales Carry-over Input tax from previous quarter is P6,000. Answer the following: 1. Total purchase subject to Input VAT is 2. Total Output VAT for the 3rd quarter is 3. Total Input VAT for the 3rd quarter is 4. VAT payable carry-over in the 4th quarter is David Bookstore, VAT registered, is engaged in the business of selling books, school supplies and gift items. The following were provided to you during the month of October (inclusive of VAT, if applicable) Sales of school supplies Sale of books Sale of gift items Purchase of school supplies and gift items for sale Purchase of books Purchase of computers used in Vatable and non-Vatable transactions Purchase of office supplies used in Vatable and non-Vatable transactions from non-vat registered supplies Answer the following: 1. Total sales subject to VAT is 2. Output VAT is 3. Input VAT is 4. VAT payable is P1,680,000 1,200,000 1,008,000 1,344,000 600,000 448,000 200,000 The following data during the month relates to William Corporation, VAT registered person (amounts are VAT inclusive): Domestic sales Domestic sales to export traders Export sales Purchases of goods for domestic sales Purchases of supplies on domestic sales Purchase of service Purchase of goods for export Determine the following: 1. Total purchases subject to Input VAT is 2. Total Input VAT is 3. Total sale subject to Output VAT is 4. Total Output VAT is P330,000 274,996 200,000 374,000 69,848 154,000 55,000 Canor is a VAT registered taxpayer. It had the following data for the month of January (VAT inclusive): Cash sales, invoice amount Sales on account Purchases Consignment: Less than 60 days More than 60 days Goods paid to creditors (dacion en pago) Goods given as Christmas gift to employees Property dividend to stockholders Answer the following 1. Total sales subject to VAT is 2. Total Output VAT is 3. Total Input VAT is 4. The amount of VAT payable is P660,800 246,400 291,200 38,500 22,400 16,800 19,040 8,960 Omega Corporation is engaged in a business subject to value added tax and another business which is not subject to value added tax Omega's business data for the current year were provided as follows Sales, VAT business, invoice amount Sales, non-VAT business Purchases of goods, VAT business, invoice amount Purchases of goods for non-VAT business, inclusive of input tax Purchase of depreciable asset for common use, VAT included Purchase of supplies for common use, VAT included Rental of premises for both types of business. The lessor is non-VAT registered Answer the following: 1. Total sales subject to Input VAT is 2. Total Input VAT is 3 Total Output VAT is 4 Total VAT payable is P896,0000 200,000 224,000 33,600 112,000 2,240 22,400 Corona imported merchandise for resale. Using the following information, determine the VAT on the importation before the same can be release from customs custody. CIF (cost, insurance, freight) value Charges/expenses incurred in claiming the goods Wharfage Arrastre Customs duty Brokerage fee and documentary stamps Facilitation expense Marine cargo insurance Other charges Freight from customs to warehouse (VAT exclusive) Determine the following: 1. Total amount of importation subject to VAT is 2. Total Input VAT is 3 Total Output VAT is 4 Total VAT payable is P229,195 1,540 2,295 4,090 330 3,000 2,550 5,000 Kiddo Grill, a VAT registered business in Cavite, has the following data (exclusive of VAT) for the third quarter of the current year Sales, food and beverages Sales, wines and beer Purchases, food and beverages VAT business Purchases, wines and beers-VAT business Determine the following 1. Total sales subject to VAT is 2 Total Output VAT is 3. Total Input VAT is 4. Total VAT payable is 370 P2,805,500 1,524,000 1,102,200 1,012,500 Hana Corporation has the following sales and purchases for the quarter ending December 31, 2018: October Sales | P50,000 Purchases 40,000 100,000 Purchases 80,000 November & December Sales Carry-over Input tax from previous quarter is P6,000. Answer the following: 1. Total purchase subject to Input VAT is 2. Total Output VAT for the 3rd quarter is 3. Total Input VAT for the 3rd quarter is 4. VAT payable carry-over in the 4th quarter is David Bookstore, VAT registered, is engaged in the business of selling books, school supplies and gift items. The following were provided to you during the month of October (inclusive of VAT, if applicable) Sales of school supplies Sale of books Sale of gift items Purchase of school supplies and gift items for sale Purchase of books Purchase of computers used in Vatable and non-Vatable transactions Purchase of office supplies used in Vatable and non-Vatable transactions from non-vat registered supplies Answer the following: 1. Total sales subject to VAT is 2. Output VAT is 3. Input VAT is 4. VAT payable is P1,680,000 1,200,000 1,008,000 1,344,000 600,000 448,000 200,000 The following data during the month relates to William Corporation, VAT registered person (amounts are VAT inclusive): Domestic sales Domestic sales to export traders Export sales Purchases of goods for domestic sales Purchases of supplies on domestic sales Purchase of service Purchase of goods for export Determine the following: 1. Total purchases subject to Input VAT is 2. Total Input VAT is 3. Total sale subject to Output VAT is 4. Total Output VAT is P330,000 274,996 200,000 374,000 69,848 154,000 55,000 Canor is a VAT registered taxpayer. It had the following data for the month of January (VAT inclusive): Cash sales, invoice amount Sales on account Purchases Consignment: Less than 60 days More than 60 days Goods paid to creditors (dacion en pago) Goods given as Christmas gift to employees Property dividend to stockholders Answer the following 1. Total sales subject to VAT is 2. Total Output VAT is 3. Total Input VAT is 4. The amount of VAT payable is P660,800 246,400 291,200 38,500 22,400 16,800 19,040 8,960 Omega Corporation is engaged in a business subject to value added tax and another business which is not subject to value added tax Omega's business data for the current year were provided as follows Sales, VAT business, invoice amount Sales, non-VAT business Purchases of goods, VAT business, invoice amount Purchases of goods for non-VAT business, inclusive of input tax Purchase of depreciable asset for common use, VAT included Purchase of supplies for common use, VAT included Rental of premises for both types of business. The lessor is non-VAT registered Answer the following: 1. Total sales subject to Input VAT is 2. Total Input VAT is 3 Total Output VAT is 4 Total VAT payable is P896,0000 200,000 224,000 33,600 112,000 2,240 22,400 Corona imported merchandise for resale. Using the following information, determine the VAT on the importation before the same can be release from customs custody. CIF (cost, insurance, freight) value Charges/expenses incurred in claiming the goods Wharfage Arrastre Customs duty Brokerage fee and documentary stamps Facilitation expense Marine cargo insurance Other charges Freight from customs to warehouse (VAT exclusive) Determine the following: 1. Total amount of importation subject to VAT is 2. Total Input VAT is 3 Total Output VAT is 4 Total VAT payable is P229,195 1,540 2,295 4,090 330 3,000 2,550 5,000 Kiddo Grill, a VAT registered business in Cavite, has the following data (exclusive of VAT) for the third quarter of the current year Sales, food and beverages Sales, wines and beer Purchases, food and beverages VAT business Purchases, wines and beers-VAT business Determine the following 1. Total sales subject to VAT is 2 Total Output VAT is 3. Total Input VAT is 4. Total VAT payable is 370 P2,805,500 1,524,000 1,102,200 1,012,500 Hana Corporation has the following sales and purchases for the quarter ending December 31, 2018: October Sales | P50,000 Purchases 40,000 100,000 Purchases 80,000 November & December Sales Carry-over Input tax from previous quarter is P6,000. Answer the following: 1. Total purchase subject to Input VAT is 2. Total Output VAT for the 3rd quarter is 3. Total Input VAT for the 3rd quarter is 4. VAT payable carry-over in the 4th quarter is David Bookstore, VAT registered, is engaged in the business of selling books, school supplies and gift items. The following were provided to you during the month of October (inclusive of VAT, if applicable) Sales of school supplies Sale of books Sale of gift items Purchase of school supplies and gift items for sale Purchase of books Purchase of computers used in Vatable and non-Vatable transactions Purchase of office supplies used in Vatable and non-Vatable transactions from non-vat registered supplies Answer the following: 1. Total sales subject to VAT is 2. Output VAT is 3. Input VAT is 4. VAT payable is P1,680,000 1,200,000 1,008,000 1,344,000 600,000 448,000 200,000 The following data during the month relates to William Corporation, VAT registered person (amounts are VAT inclusive): Domestic sales Domestic sales to export traders Export sales Purchases of goods for domestic sales Purchases of supplies on domestic sales Purchase of service Purchase of goods for export Determine the following: 1. Total purchases subject to Input VAT is 2. Total Input VAT is 3. Total sale subject to Output VAT is 4. Total Output VAT is P330,000 274,996 200,000 374,000 69,848 154,000 55,000 Canor is a VAT registered taxpayer. It had the following data for the month of January (VAT inclusive): Cash sales, invoice amount Sales on account Purchases Consignment: Less than 60 days More than 60 days Goods paid to creditors (dacion en pago) Goods given as Christmas gift to employees Property dividend to stockholders Answer the following 1. Total sales subject to VAT is 2. Total Output VAT is 3. Total Input VAT is 4. The amount of VAT payable is P660,800 246,400 291,200 38,500 22,400 16,800 19,040 8,960 Omega Corporation is engaged in a business subject to value added tax and another business which is not subject to value added tax Omega's business data for the current year were provided as follows Sales, VAT business, invoice amount Sales, non-VAT business Purchases of goods, VAT business, invoice amount Purchases of goods for non-VAT business, inclusive of input tax Purchase of depreciable asset for common use, VAT included Purchase of supplies for common use, VAT included Rental of premises for both types of business. The lessor is non-VAT registered Answer the following: 1. Total sales subject to Input VAT is 2. Total Input VAT is 3 Total Output VAT is 4 Total VAT payable is P896,0000 200,000 224,000 33,600 112,000 2,240 22,400 Corona imported merchandise for resale. Using the following information, determine the VAT on the importation before the same can be release from customs custody. CIF (cost, insurance, freight) value Charges/expenses incurred in claiming the goods Wharfage Arrastre Customs duty Brokerage fee and documentary stamps Facilitation expense Marine cargo insurance Other charges Freight from customs to warehouse (VAT exclusive) Determine the following: 1. Total amount of importation subject to VAT is 2. Total Input VAT is 3 Total Output VAT is 4 Total VAT payable is P229,195 1,540 2,295 4,090 330 3,000 2,550 5,000 Kiddo Grill, a VAT registered business in Cavite, has the following data (exclusive of VAT) for the third quarter of the current year Sales, food and beverages Sales, wines and beer Purchases, food and beverages VAT business Purchases, wines and beers-VAT business Determine the following 1. Total sales subject to VAT is 2 Total Output VAT is 3. Total Input VAT is 4. Total VAT payable is 370 P2,805,500 1,524,000 1,102,200 1,012,500 Hana Corporation has the following sales and purchases for the quarter ending December 31, 2018: October Sales | P50,000 Purchases 40,000 100,000 Purchases 80,000 November & December Sales Carry-over Input tax from previous quarter is P6,000. Answer the following: 1. Total purchase subject to Input VAT is 2. Total Output VAT for the 3rd quarter is 3. Total Input VAT for the 3rd quarter is 4. VAT payable carry-over in the 4th quarter is David Bookstore, VAT registered, is engaged in the business of selling books, school supplies and gift items. The following were provided to you during the month of October (inclusive of VAT, if applicable) Sales of school supplies Sale of books Sale of gift items Purchase of school supplies and gift items for sale Purchase of books Purchase of computers used in Vatable and non-Vatable transactions Purchase of office supplies used in Vatable and non-Vatable transactions from non-vat registered supplies Answer the following: 1. Total sales subject to VAT is 2. Output VAT is 3. Input VAT is 4. VAT payable is P1,680,000 1,200,000 1,008,000 1,344,000 600,000 448,000 200,000 The following data during the month relates to William Corporation, VAT registered person (amounts are VAT inclusive): Domestic sales Domestic sales to export traders Export sales Purchases of goods for domestic sales Purchases of supplies on domestic sales Purchase of service Purchase of goods for export Determine the following: 1. Total purchases subject to Input VAT is 2. Total Input VAT is 3. Total sale subject to Output VAT is 4. Total Output VAT is P330,000 274,996 200,000 374,000 69,848 154,000 55,000 Canor is a VAT registered taxpayer. It had the following data for the month of January (VAT inclusive): Cash sales, invoice amount Sales on account Purchases Consignment: Less than 60 days More than 60 days Goods paid to creditors (dacion en pago) Goods given as Christmas gift to employees Property dividend to stockholders Answer the following 1. Total sales subject to VAT is 2. Total Output VAT is 3. Total Input VAT is 4. The amount of VAT payable is P660,800 246,400 291,200 38,500 22,400 16,800 19,040 8,960
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1 1 Total sales subject to Input VAT The sales made in the VAT business are subject to Input VAT Therefore the total sales subject to Input VAT is P896000 To calculate the total Input VAT we need to c... View the full answer
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Intermediate Accounting Volume 2
ISBN: 9781260881240
8th Edition
Authors: Thomas H. Beechy, Joan E. Conrod, Elizabeth Farrell, Ingrid McLeod-Dick, Kayla Tomulka, Romi-Lee Sevel
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