Dear Tutors,

I need help with my Homework. Thanks a lot in advance.

Basic case 2 3. A VAT-registered taxpayer recorded the following sales and purchas during the month: Sales P 300,000 Purchases 200,000 All amounts above are exclusive of any VAT. What would be the output VAT? a. P 48,000 c. P24,000 b. P 36,000 d. P12,000 4. What is the input VAT? a. P48,000 c. P24,000 b. P36,000 d. P12,000 5. What is the VAT payable? a. P36,000 c. P12,000 b. P24,000 d. PO