Question
A taxpayer had on record, in his books of accounts of the following: May 2 Purchase from a VAT supplier of goods to be sold,
A taxpayer had on record, in his books of accounts of the following:
May 2 Purchase from a VAT supplier of goods to be sold, P50,000, VAT
of P60,000, not included
May 12 Purchase from a non-VAT supplier, of goods to be sold, P90,000
May 15 Sale of P30,000
May 20 Payment of the April Percentage tax
May 28 Sale of P10,000
How much is the percentage tax on May?
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Accounting Information Systems
Authors: Vernon Richardson, Chengyee Chang, Rod Smith
2nd edition
1260153156, 1260153150, 978-1260153156
