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hmm Post Assessments: Problem Solving: Please answer the following questions and use separate sheet for the computation 1. SAN GOKU become subject to VAT for

hmm
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Post Assessments: Problem Solving: Please answer the following questions and use separate sheet for the computation 1. SAN GOKU become subject to VAT for the first time. The following data are available for SAN Goku for first quarter of 2018: Beginning inventory purchased from VAT registered, P20,160 at cost (VAT inc)Beginning inventory purchased from NON VAT, P 120,000 at cost Sales, vat inc is P 212,800 Purchases of packaging materials from VAT registered is P80,000 (net of tax) Purchases of materials for manufacturing of cooking oil, net of tax is P 30,000 Water bill, net of tax is P 10,000 Electricity bill, net of tax is P 20,000 Salaries of employees, gross of tax is P 50,000 What is the VAT payable (excess vat input)? 2. SAITAMA has the following data (VAT exclusive): Taxable sales is P1,200,000

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