Question: pls include the input vat, if not applicable then why pls answer thank you P8-17. Delta is a real estate dealer, sold three (3) lots

pls include the input vat, if not applicable then why pls answer thank you pls include the input vat, if not applicable then why pls answer

P8-17. Delta is a real estate dealer, sold three (3) lots on November 2018 with the following terms (net of vat): Lot A Lot B Lot Selling Price P250,000 P200,000 P300,000 Cost 150,000 130,000 175,000 Terms: Downpayment, Nov. 5 25,000 50,000 40,000 Due: December 5, 2018 25,000 20,000 20,000 Jan. to Dec. 2019 200,000 130,000 240,000 REQUIRED: DETERMINE THE FOLLOWING: a. Vat payable - November 2018 b. Vat payable - December 2018 P8-17. Delta is a real estate dealer, sold three (3) lots on November 2018 with the following terms (net of vat): Lot A Lot B Lot Selling Price P250,000 P200,000 P300,000 Cost 150,000 130,000 175,000 Terms: Downpayment, Nov. 5 25,000 50,000 40,000 Due: December 5, 2018 25,000 20,000 20,000 Jan. to Dec. 2019 200,000 130,000 240,000 REQUIRED: DETERMINE THE FOLLOWING: a. Vat payable - November 2018 b. Vat payable - December 2018

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!