Fast Track Company, a domestic common carrier engaged in the transport of goods and cargoes provided the
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Question:
Fast Track Company, a domestic common carrier engaged in the transport of goods and cargoes provided the following data for 2021 taxable year:
Gross receipts, 2021 P2,400,000
Receivables, January 1, 2021 500,000
Receivables, December 31, 2021 600,000
Operating Expenses 1,250,000
REQUIRED:
1. The business tax dues of Fast Track assuming the company is a non-vat registered entity.
2. The business tax dues of Fast Track assuming the company is a vat registered entity.
please explain carefully thank you so much,
Related Book For
Financial Accounting and Reporting a Global Perspective
ISBN: 978-1408076866
4th edition
Authors: Michel Lebas, Herve Stolowy, Yuan Ding
Posted Date: