Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

Delta Co Inc, a value added tax (VAT) general taxpayer with a monthly VAT period, is a manufacturing company that manufactures and sells computer networking

image text in transcribed
image text in transcribed
Delta Co Inc, a value added tax (VAT) general taxpayer with a monthly VAT period, is a manufacturing company that manufactures and sells computer networking equipment (VAT rate =13% ), and also provides installation services (VAT rate =6% ), as well as repair services (VAT rate =6% ). During May 2022 Delta Co Inc sold computer networking equipment to Company Y in a single sales activity to the total amount of RMB 1,200,000 (VAT Exclusive) . That agreement required that Delta Co Inc also provide an installation service, as a condition of the sale, and stipulates a price of RMB 975,000 for the equipment, and RMB 225,000 for the provision of the installation service. During May 2022 Delta Co Inc also provided repair services to various clients (unrelated to the transaction with Company Y ), for the total amount of RMB 132,000 VAT Exclusive. Delta Co Inc kept separate and accurate accounting records for all transactions. Required : Answer Questions 13 to 16 below : (3 marks) 13. Calculate \& type the Output VAT to be charged on all Composite / Concurrent Sale Activities during May 2022 : Calculate \& type the Output VAT to be charged on the Mixed Sale Activity with Company Y during May 2022 : Delta Co Inc, a value added tax (VAT) general taxpayer with a monthly VAT period, is a manufacturing company that manufactures and sells computer networking equipment (VAT rate =13% ), and also provides installation services (VAT rate =6% ), as well as repair services (VAT rate =6% ). During May 2022 Delta Co Inc sold computer networking equipment to Company Y in a single sales activity to the total amount of RMB 1,200,000 (VAT Exclusive) . That agreement required that Delta Co Inc also provide an installation service, as a condition of the sale, and stipulates a price of RMB 975,000 for the equipment, and RMB 225,000 for the provision of the installation service. During May 2022 Delta Co Inc also provided repair services to various clients (unrelated to the transaction with Company Y ), for the total amount of RMB 132,000 VAT Exclusive. Delta Co Inc kept separate and accurate accounting records for all transactions. Required : Answer Questions 13 to 16 below : (3 marks) 13. Calculate \& type the Output VAT to be charged on all Composite / Concurrent Sale Activities during May 2022 : Calculate \& type the Output VAT to be charged on the Mixed Sale Activity with Company Y during May 2022

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions