Rendezvous Transports Inc. is a domestic corporation that offers transportation services to people and cargoes to...
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Rendezvous Transports Inc. is a domestic corporation that offers transportation services to people and cargoes to domestic and abroad areas. The following are the revenue and expense incurred from the entity's operation towards different transportation services rendered for the current year: Transportations Services offered by Rendezvous Transports Inc. Transport of people from domestic area to another domestic area by bus Transport of people from domestic area to another domestic area by ship Transport of people from domestic area to another domestic area by plane Transport of people from domestic area to abroad destination by plane Transport of cargoes from domestic area to another domestic area by bus Transport of cargoes from domestic area to another domestic area by ship Transport of cargoes from domestic area to abroad destination by ship Transport of cargoes from domestic area to another domestic area by plane Requirements: 1. Determine the following on the account of the entity: 2. Output VAT 3. Determine the "Percentage Tax" of Rendezvous Transports Inc. at year-end. Revenue 7,470,000 5,650,000 9,690,000 13,140,000 6,780,000 7,890,000 5,230,000 9,280,000 Rendezvous Transports Inc. is a domestic corporation that offers transportation services to people and cargoes to domestic and abroad areas. The following are the revenue and expense incurred from the entity's operation towards different transportation services rendered for the current year: Transportations Services offered by Rendezvous Transports Inc. Transport of people from domestic area to another domestic area by bus Transport of people from domestic area to another domestic area by ship Transport of people from domestic area to another domestic area by plane Transport of people from domestic area to abroad destination by plane Transport of cargoes from domestic area to another domestic area by bus Transport of cargoes from domestic area to another domestic area by ship Transport of cargoes from domestic area to abroad destination by ship Transport of cargoes from domestic area to another domestic area by plane Requirements: 1. Determine the following on the account of the entity: 2. Output VAT 3. Determine the "Percentage Tax" of Rendezvous Transports Inc. at year-end. Revenue 7,470,000 5,650,000 9,690,000 13,140,000 6,780,000 7,890,000 5,230,000 9,280,000
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Output VAT Calculation Output VAT is calculated based on the valueadded tax rate which in the Philip... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-0071339476
Volume 1, 6th Edition
Authors: Beechy Thomas, Conrod Joan, Farrell Elizabeth, McLeod Dick I
Posted Date:
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