The company has the following information for the 1st quarter of its operation during the taxable year 2021:

Description	January	February	March
Current Sales
Vatable Sales/Receipts	5,500,000	10,100,000	10,700,00
Zero-Rated Sales/Receipts	1,500,000	1,600,000	1,800,000
Exempt Sales/Receipts	750,000	760,000	850,000
Excess Input Tax from Previous Quarter (Last December 2020)	450,000	-	-
Previous Purchase
Deferred Input Tax, Beginning	1,200,000	1,000,000	800,000
Deferred Input Tax, Ending	1,000,000	800,000	600,000
Current Purchase
Domestic Purchase of Goods (Not Capital)	3,500,000	2,500,000	3,600,000
Importation of Goods (Not Capital)	550,000	330,000	520,000
Domestic Purchase of Services	700,000	520,000	780,000
Services Rendered by Non-Residents (VAT Withheld using BIR Form 1600)	300,000	260,000	370,000
Purchases Not Qualified for Input Tax	3,500,000	4,000,000	5,000,000

 what information should be indicated in Part II - Line Item 17A for the month of February?

a. - P596,000

b. P596,000

c. P0

d. Not Applicable

 what information should be indicated in Part II - Line Item 17B for the month of February?

a. P200,000

b. P0

c. P1,200,000

d. P1,000,000

 

what information should be indicated in Part II - Line Item 17F for the month of February?

 

a. P1,450,000

b. P404,000

c. P1,000,000

d. P1,596,000

what information should be indicated in Part II - Line Item 19 for the month of February? 

a. P433,200

b. P2,029,200

c. P1,229,200

d. P0

Answer rating: 100% (QA)

The detailed answer for the above question is provided below Part II Line Item 17A VAT payable To ca... View the full answer