Delta is a real estate dealer, sold three (3) lots on November 2018 with the following...
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Delta is a real estate dealer, sold three (3) lots on November 2018 with the following terms (net of vat): Selling Price Cost Lot A P250,000 150,000 Lot B P200,000 130,000 Lot C P300,000 175,000 Terms: Downpayment, Nov. 5 Due: 25,000 50,000 40,000 December 5, 2018 Jan. to Dec. 2019 25,000 200,000 20,000 130,000 20,000 240,000 REQUIRED: DETERMINE THE FOLLOWING: a. Vat payable - November 2018 b. Vat payable December 2018 Delta is a real estate dealer, sold three (3) lots on November 2018 with the following terms (net of vat): Selling Price Cost Lot A P250,000 150,000 Lot B P200,000 130,000 Lot C P300,000 175,000 Terms: Downpayment, Nov. 5 Due: 25,000 50,000 40,000 December 5, 2018 Jan. to Dec. 2019 25,000 200,000 20,000 130,000 20,000 240,000 REQUIRED: DETERMINE THE FOLLOWING: a. Vat payable - November 2018 b. Vat payable December 2018
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SOLUTION DELTA VAT PAYABLE SCHEDULE NOVEMBER 2018 SALES VAT RATE OUTPUT VAT DP AR LOT A 250000 12 30... View the full answer
Related Book For
South-Western Federal Taxation 2020 Comprehensive
ISBN: 9780357109144
43rd edition
Authors: David M. Maloney, William A. Raabe, James C. Young, Annette Nellen, William H. Hoffman
Posted Date:
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