Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Hello. Can you answer po #5 and #6? Chapter 8 - Output VAT: Zero-rated Sales AV Jug 0 -8 151gar Ch 5. A VAT-registered service

Hello. Can you answer po #5 and #6?

image text in transcribed
Chapter 8 - Output VAT: Zero-rated Sales AV Jug 0 -8 151gar Ch 5. A VAT-registered service provider had the following receipts from servin rendered in the Philippines in February 2018: ism SAdisame? vando Paid for in foreign currencies (Peso equivalent) mo Services rendered to non-residents P 500,000 Services rendered to residents 400,000 Paid for in the local currency Services rendered to non-residents P 800,000 sauumes Services rendered to residents 1,200,000 109 Services rendered to IRRI 1000.8 6 200,000 0089 What is the total zero-rated sale? a. P 400,000 c. P 700,000 b. P 500,000 d. P 900,000 14 x 028) Insings blob nsig\\884 x 0es] Justnoo revlie 6. Legazpi Corporation had the following sales in March 2020: Sale to an export-oriented enterprise P 2,000,000 Sale to a BOI-registered enterprise OAT. 481 9 3,000,000 Assuming that the new VAT refund system is already in place, compute the total effectively zero-rated sales. a. PO c. P 3,800,000 819 000.082. b. P3,000,000 d. P 5,000,000 ISYEaxel FAV-non

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Recommended Textbook for

Income Tax Fundamentals 2013

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

31st Edition

1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516

Students also viewed these Accounting questions