3. ABC Merchandising had the following data on oprations for a month as a VAT- registered...
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3. ABC Merchandising had the following data on opérations for a month as a VAT- registered taxpayer: 4 Sales, total invoice price Purchases of goods, VAT not included From VAT-registered persons From non-VAT-registered persons Purchases of services, VAT not included: From VAT-registered persons From non-VAT-registered persons From persons subject to percentage tax Salaries to employees Other operating expenses Inventory at cost At market VAT paid on beginning inventory Php592,480.00 Required: How much is the total input tax? BEEZEE HOUSE Inc in n 100,000.00 90,000.00 18,000.00 10,000.00 This is the first month of being liable to VAT. Data on inventories at the beginning of the period follow: 8,000.00 50,000.00 15,000.00 Php 40,000.00 30,000.00 500.00 3. ABC Merchandising had the following data on opérations for a month as a VAT- registered taxpayer: 4 Sales, total invoice price Purchases of goods, VAT not included From VAT-registered persons From non-VAT-registered persons Purchases of services, VAT not included: From VAT-registered persons From non-VAT-registered persons From persons subject to percentage tax Salaries to employees Other operating expenses Inventory at cost At market VAT paid on beginning inventory Php592,480.00 Required: How much is the total input tax? BEEZEE HOUSE Inc in n 100,000.00 90,000.00 18,000.00 10,000.00 This is the first month of being liable to VAT. Data on inventories at the beginning of the period follow: 8,000.00 50,000.00 15,000.00 Php 40,000.00 30,000.00 500.00
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Since VAT rate is not mentioned it is assumed to be 12 Input rax means the tax paid o... View the full answer
Related Book For
Quantitative Methods for Business
ISBN: 978-0324651751
11th Edition
Authors: David Anderson, Dennis Sweeney, Thomas Williams, Jeffrey cam
Posted Date:
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