Lita (self-employed) is a non-vat registered taxpayer who operates a convenience store. The following were provided for

Fantastic news! We've Found the answer you've been seeking!

Question:

Lita (self-employed) is a non-vat registered taxpayer who operates a convenience store. The following were provided for 2021:

Sales of processed food items P280,000

Sales of non-food items 220,000

Purchases of processed food items 100,000

Purchases of non-food items 80,000

Salaries of helpers 48,000

How much is the business tax due?

Related Book For answer-question

International Marketing And Export Management

ISBN: 9781292016924

8th Edition

Authors: Gerald Albaum , Alexander Josiassen , Edwin Duerr

See More Books

Posted Date: Mar 05, 2024 09:48 AM

See More Questions

Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
1. Based on the information provided in the case below, what is the key strategic goal for Tim Hortons as of August 2014? It would be a year of dramatic change for Tim Hortons Inc. On August 26,...
Refer to Figure 9.3. Svetlana scores 0.70 on the responsibility scale of the CPI. Dymitri scores 0.30 on the responsibility scale of the CPI. By how many T-score points do their scores differ? Figure...
Find the mean of the data summarized in the frequency distribution. Also, compare the computed means to the actual means obtained by using the original list of data values, which are as follows:...
A company has two products with the following unit costs for a period: Production and sales of the two products for the period were Production was at normal levels. Unit costs in opening stock were...
A large company has the opportunity to select one of seven projects-A, B, C, D, E, F, G-or choose the null (donothing) alternative. Each project requires a single initial investment as shown in the...
Myers Company uses a flexible budget for manufacturing overhead based on direct labor hours. Variable manufacturing overhead costs per direct labor hour are as follows. Indirect labor ......... $1.00...
The trial balance for Lindor Corporation, a manufacturing company, for the year ended December 31, 2024, included the following accounts: Account Title Sales revenue Cost of goods sold Selling and...
Let an cos (log(1+1) COS n (n+1) Oscillatory Divergent Convergent Cauchy n 71 then S = at is
The data on Trantor Corp. is as follows: current assets of $10 million, non-current assets of $33 million, current liabilities of $8 million and shareholders' equity of $15 million. Assuming the...
What to submit: For this section of the project, you will be submitting a .Rmd file (LastName_FirstName.Rmd) that will contain all the code and written answers for the steps mentioned below. a...
We have a flat heater of 0.05 m length over which water at 15 atm. pressure and 400K temperature flows. The freestream velocity is 1.5 m/s and the heater is held to a uniform temperature of 420K....
A 17.8 N force is applied at an angle of 20 above the horizontal to a 4.00 kg box. The box moves a horizontal distance of 4.00 m. Suppose theres no friction. The work done by the 17.8 N force is?
The biggest single purchase that most people make in their lives is the purchase of a home. Most home owners have to finance the purchase with an installment loan. Assume you have found your new home...
Selected condensed data taken from a recent balance sheet of Heidebrecht Inc. are as follows: HEIDEBRECHT INC. Balance Sheet (partial) Cash $8,060,000 Short-term investments $4,900,000 Accounts...
Define deferred revenue. Why is it a liability?
What do you see as the future for the Internet as a basic advertising medium and/or as a means for implementing sales promotion in foreign markets?
Explain the meaning of cultural universals. Do these provide universal guides to behaviour in all societies? How can the international marketer use these universals? Explain.
With what particular issues must international marketers be concerned?
Explore whether the original Bell inequality can be violated at large angles as well.
Consider an EPR state $|\phiangle_{A B}$; Alice measures the spin on $z$, then Bob measures it on $x$, and then Alice measures it again on $z$. Classify the possible answers for the second...
In quantum cosmology, one can define a "wave function of the Universe" $\Psi[a(t)]$, whose variable is the expanding scale factor of the Universe, $a(t)$, and which satisfies a general relativity...

Lita (self-employed) is a non-vat registered taxpayer who operates a convenience store. The following were provided for

Question:

Expert Answer:

To calculate the business tax due for Litas convenience store we first need to determine the gross i... View the full answer

International Marketing And Export Management

Students also viewed these law questions