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
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
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