Problem 3. LGV Enterprise, a vat dealer of home appliances had the following transactions in business...
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Problem 3. LGV Enterprise, a vat dealer of home appliances had the following transactions in business during October of the year 2013 as follows; First week; a. b. C. Second week; d. e. Gross purchases of merchandise Purchase price of supplies Invoice price of goods sold g. h. Gross purchase price of goods, including vat Invoice price of merchandise sold, vat exclusive Third week; f. Cost price of services purchased, net of vat Sales of merchandise, gross of vat Invoice price of goods purchased, including vat Fourth week loddiw Isan or i. Sales price of merchandise j. Sales returns, allowances, discounts k. Purchase price of goods, supplies 1. Purchase turns, allowances, discounts Required: Weekly and month output tax, input tax, vat payable XT P500,000 60,000 1,120,000 P720,000 1,300,000 P150,000 448,000 840,000 P2,100,000 160,000 896,000 56,000 Problem 3. LGV Enterprise, a vat dealer of home appliances had the following transactions in business during October of the year 2013 as follows; First week; a. b. C. Second week; d. e. Gross purchases of merchandise Purchase price of supplies Invoice price of goods sold g. h. Gross purchase price of goods, including vat Invoice price of merchandise sold, vat exclusive Third week; f. Cost price of services purchased, net of vat Sales of merchandise, gross of vat Invoice price of goods purchased, including vat Fourth week loddiw Isan or i. Sales price of merchandise j. Sales returns, allowances, discounts k. Purchase price of goods, supplies 1. Purchase turns, allowances, discounts Required: Weekly and month output tax, input tax, vat payable XT P500,000 60,000 1,120,000 P720,000 1,300,000 P150,000 448,000 840,000 P2,100,000 160,000 896,000 56,000
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To calculate the weekly and month output tax input tax and VAT payable for LGV Enterprise we need to ... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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