BUSINESS TRANSACTIONS:

1. M is a VAT registered business with a total sales of P5,240,000 inclusive of VAT. How much is the direct tax to be paid by M to the BIR in relation to VAT?

2. A is a non-VAT business with a total sales of P1,500,000 of which 70% has been collected. Its total purchases inclusive of VAT is P 1,120,000. How much is the business tax of A?

3. A is a non-VAT business with a total sales of P4,600,000 of which 70% has been collected. Its total purchases inclusive of VAT is P1,120,000. How much is the VAT payable of A?

4. N is a VAT-registered business with a net taxable income of P450,000 which is 10% of sales. Total purchases during the quarter is P5,062,400 inclusive of VAT. If the cost of sale is 70% of sales, how much is the net VAT payable for the quarter?

5. Dok Ling sells "pasalubong" products along Magsaysay. His average monthly sales is P40,000 with a gross profit rate of 25%. How much is his total percentage tax in the year?

Total Business Tax

a. P3,600

b. P12,000

c. P14,400

d. P48,000

6. Lulu Guina has an annual average gross sales of P60,000 in her small sari-sari store. Her percentage tax would be.

a. Exempt

b. P 180

c. P1,800

d. P6,000

7. A non-VAT sole proprietorship variety store experienced an average annual gross receipt of less than P550,000. For the 1st quarter of 2019, the following information were gathered:

Beginning inventory of merchandise P 120,000

Purchases from VAT registered suppliers 450,000

Gross sales 540,00

How much is the business tax?

a. P 9,900

b. P 13,500

c. P 16,200

d. P 54,000

8. Mrs. Fiona de Guzman, a mini-mart owner and a non-VAT registered person provides the following data for the year 2015:

Gross sales P 500,000

Cost of sales 200,000

Merchandise inventory, end 100,000

Operating expense 100,000

How much is the amount of percentage tax payable?

a. P 50,000

b. P 30,000

c. P 15,000

d. P 5,000

This is a problem from Philippines, kindly explain your answer in detailed steps and gonna rate you helpful after. Thanks tutors.

**RESEARCH THE TAX COMPUTATIONS BASED ON LATEST BIR RULES/TRAIN LAW TO ANSWER THE GIVEN PROBLEMS.