Question
5. Taxpayer became subject to value-added tax on January 1, 2019, by registering under the VAT system. 2018 Jan. 2019 Net Sales Php 1,000,000 Php
5. Taxpayer became subject to value-added tax on January 1, 2019, by registering under the
VAT system.
2018 Jan. 2019
Net Sales Php 1,000,000 Php 100,000
Net purchases from VAT supplier 400,000 60,000
Inventory, end 22,000 10,000
How much is the VAT payable at the end of January 2019?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Comparative International Accounting
Authors: Christopher Nobes, Robert Parker
13th edition
1292081902, 1292081908, 9781292081960 , 1292081961, 978-1292081908
