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1.How much is the Gross Sale, assuming accrual basis? 2.How much is the cost of sale? 3.How much is the deductible expense? 4.How much is
1.How much is the Gross Sale, assuming accrual basis?
2.How much is the cost of sale?
3.How much is the deductible expense?
4.How much is the income tax due?
5.How much is the output VAT?
6.How much is VAT payable?
7.How much is the total due to BIR?
8.Assuming the taxpayer is subject to 3% OPT, how much is the tax due?
9.Assuming a seller of service, how much is the taxable income? Disregard the purchases of materials but assume 20,000,000 cost of services.
10.How much is the output VAT payable assuming seller of service?
Consider the following data for a seller of merchandise (VAT registered): Cash Sales 20.450,000 Sales on account 53,400.350 Advance Collection 6,545,230 Cash Purchases 8,000,000 Purchase on Account 22,535.140 Inventory, beginning 10,250,000 Inventory , end 11,245,000 Operating Expenses (services) incurred and paid 4,502,500 Operating Expenses (services )incurred and unpaid 6.725,000 Prepaid Expenses 1,245,000Step by Step Solution
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