CONAN Corporation is a VAT registered taxpayer and had the following information for the month of...
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CONAN Corporation is a VAT registered taxpayer and had the following information for the month of January 2018: Cash sales, Invoice amount - P 660,800 Sales on account - 246,400 Purchases - 291,200 Consignment shipments (inclusive of tax) - less than 60 days - 38,500 Consignment shipments (inclusive of tax - more than 60 days - 22,400 Goods paid to creditors (dacion en pago) - 16,800 Goods given as Christmas gift to employees - 19,040 Property dividend to stockholders - 8,960 INSTRUCTIONS: How much is the total output tax on the above transactions ? How much is the total input tax on the above transactions? How much is the amount of the VAT payable ? CONAN Corporation is a VAT registered taxpayer and had the following information for the month of January 2018: Cash sales, Invoice amount - P 660,800 Sales on account - 246,400 Purchases - 291,200 Consignment shipments (inclusive of tax) - less than 60 days - 38,500 Consignment shipments (inclusive of tax - more than 60 days - 22,400 Goods paid to creditors (dacion en pago) - 16,800 Goods given as Christmas gift to employees - 19,040 Property dividend to stockholders - 8,960 INSTRUCTIONS: How much is the total output tax on the above transactions ? How much is the total input tax on the above transactions? How much is the amount of the VAT payable ?
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Related Book For
Intermediate Accounting
ISBN: 978-0176509736
10th Canadian Edition, Volume 1
Authors: Donald Kieso, Jerry Weygandt, Terry Warfield, Nicola Young,
Posted Date:
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