Sweetness Processing Company, a VAT-registered taxpayer, is a processor of refined sugar. In June 2021, the...

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Sweetness Processing Company, a VAT-registered taxpayer, is a processor of refined sugar. In June 2021, the records of the company revealed the following: Sales during the month, exclusive of VAT Cash Sales Sales on Account Purchases of sugarcane from farmers Purchases of packaging materials from VAT Suppliers, exclusive of VAT P780,000 400,000 500,000 120,000 Required: Compute for the VAT payable for the month of June. Sweetness Processing Company, a VAT-registered taxpayer, is a processor of refined sugar. In June 2021, the records of the company revealed the following: Sales during the month, exclusive of VAT Cash Sales Sales on Account Purchases of sugarcane from farmers Purchases of packaging materials from VAT Suppliers, exclusive of VAT P780,000 400,000 500,000 120,000 Required: Compute for the VAT payable for the month of June.

Answer rating: 100% (QA)

To compute the VAT payable for Sweetness Processing Company for the month of June 2021 we need to ca... View the full answer