3. ABC Merchandising had the following data on oprations for a month as a VAT- registered...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
3. ABC Merchandising had the following data on opérations for a month as a VAT- registered taxpayer: 4 Sales, total invoice price Purchases of goods, VAT not included From VAT-registered persons From non-VAT-registered persons Purchases of services, VAT not included: From VAT-registered persons From non-VAT-registered persons From persons subject to percentage tax Salaries to employees Other operating expenses Inventory at cost At market VAT paid on beginning inventory Php592,480.00 Required: How much is the total input tax? BEEZEE HOUSE Inc in n 100,000.00 90,000.00 18,000.00 10,000.00 This is the first month of being liable to VAT. Data on inventories at the beginning of the period follow: 8,000.00 50,000.00 15,000.00 Php 40,000.00 30,000.00 500.00 3. ABC Merchandising had the following data on opérations for a month as a VAT- registered taxpayer: 4 Sales, total invoice price Purchases of goods, VAT not included From VAT-registered persons From non-VAT-registered persons Purchases of services, VAT not included: From VAT-registered persons From non-VAT-registered persons From persons subject to percentage tax Salaries to employees Other operating expenses Inventory at cost At market VAT paid on beginning inventory Php592,480.00 Required: How much is the total input tax? BEEZEE HOUSE Inc in n 100,000.00 90,000.00 18,000.00 10,000.00 This is the first month of being liable to VAT. Data on inventories at the beginning of the period follow: 8,000.00 50,000.00 15,000.00 Php 40,000.00 30,000.00 500.00
Expert Answer:
Answer rating: 100% (QA)
Since VAT rate is not mentioned it is assumed to be 12 Input rax means the tax paid o... View the full answer
Related Book For
Quantitative Methods for Business
ISBN: 978-0324651751
11th Edition
Authors: David Anderson, Dennis Sweeney, Thomas Williams, Jeffrey cam
Posted Date:
Students also viewed these accounting questions
-
Calculation on excel using this spreadsheet 2. You are given the following data on 8/24/2015 settlement date: Maturity 8/31/2017 Annual Coupon Rate Bid Price Asked Price 1.875 102.4922 102.5078 |...
-
On July 31, Milna's Fabric Store had the following data related to the retail inventory method: Goods available for sale at cost $25,000; at retail $40,000; and net sales of $30,000. Calculate the...
-
The following data on the number of union members in the United States for the years 1984 through 2008 are provided by the U.S. Bureau of Labor Statistics. Using regression techniques discussed in...
-
Furniture Co. incurred the following costs during 2016: Conversion costs Prime costs Manufacturing overhead What was the amount of direct materials and direct labor used for the year? Direct...
-
Big Pizza, a Province wide pizza chain, has a new promotional campaign. It guarantees that all pizzas will be delivered within 30 minutes or they will be free. While this promise is readily kept in...
-
Identify each of the following coordination complexes as either diamagnetic or paramagnetic: (a) [ZnCl 4 ] 2- (b) [Pd(NH 3 ) 2 Cl 2 ] (c) [V(H 2 O) 6 ] 3+ (d) [Ni(en) 3 ] 2+
-
The following are types of assurance services with the exception of: (a) Legal counsel engagement (b) Facilitation engagement (c) Advice engagement (d) System security engagement
-
Jenny Kane and Cindy Travis borrowed $15,000 on a 7-month, 8% note from Golden State Bank to open their business, KTs Coffee House. The money was borrowed on June 1, 2014, and the note matures...
-
Can someone help me understand this how to find the answer for this question:. Net Salvage Value Allen Air Lines must liquidate some equipment that is being replaced. The equipment originally cost...
-
Here are simplified financial statements for Phone Corporation in 2020: INCOME STATEMENT (Figures in $ millions) Net sales Cost of goods sold Other expenses Depreciation Earnings before interest and...
-
Required information (The following information applies to the questions displayed below.] Major League Apparel has two classes of stock authorized: 6%, $10 par preferred, and $1 par value common....
-
Level 99.5%: x1 = 82.9, x2 = 64.1, s1 = 9.8, s2 = 6.2, n1 = 19, n2 = 10 In Exercises 914, construct the confidence interval for the difference 1 2 for the given level and values of x1 x2, s1, s2,...
-
Level 95%: x1 = 47.7, x2 = 42.6, s1 = 33.9, s2 = 17.6, n1 = 13, n2 = 19 In Exercises 914, construct the confidence interval for the difference 1 2 for the given level and values of x1 x2, s1, s2,...
-
The concentration of benzene was measured in units of milligrams per liter for a simple random sample of five specimens of untreated wastewater produced at a gas field. The sample mean was 7.8 with a...
-
A company signs a purchase order for 5,000 cases of a product at \($10\) per case. The product will be delivered next year. Is a liability for \($50,000\) recorded? Under what conditions will some...
-
A survey of college students reported that in a sample of 413 male college students, the average number of energy drinks consumed per month was 2.49 with a standard deviation of 4.87, and in a sample...
-
Jones Manufacturing compr $10 000 de inventario de mercancas acuenta de un proveedor y pag una factura de flete de $500. Losplazos de crdito son 2/10 o n/30. Debido a que no se necesitabapa 1 answer
-
Proposals have been made to ?sail? spacecraft to the outer solar system using the pressure of sunlight, or even to propel interstellar spacecraft with high-powered, Earth-based lasers. Sailing...
-
ALas Vegas roulette wheel has 38 different numerical values. If an individual bets on one number and wins, the payoff is 35 to 1. a. Show a payoff table for a $10 bet on one number for decision...
-
City Cab Company identified 10 primary pickup and drop locations for cab riders in New York City. In an effort to minimize travel time and improve customer service and the utilization of the companys...
-
For the 20012002 National Basketball Association season, Philadelphia 76ers Allen Iverson was the scoring leader with an average of 31.4 points per game. The following data show the average number of...
-
A The following balance sheets of P Ltd and S Ltd were drawn up as at 31 December 19X4. Draw up the consolidated balance sheet as at that date. P Balance Sheet as at 31 December 19X4 Investment in...
-
Draw up a consolidated balance sheet as at 31 December \(19 \times 9\) from the following information. Investment in subsidiary: 30,000 shares bought 31.12.19X8 Fixed assets Current assets Share...
-
A The balance sheets of P Ltd and S$ Ltd are as follows: Investment in subsidiary: 120,000 shares bought 31.12.19X3 Fixed assets Current assets Share capital Profit and loss account: As at 31.12.19X3...
Study smarter with the SolutionInn App