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Hope u can help me For A and B. Soory for the incomplete info. I will upvote you right away. Please answer this. Thank you.
Hope u can help me For A and B. Soory for the incomplete info. I will upvote you right away. Please answer this. Thank you.
Compute the OPT for each of the following independent cases: A. JJ, non-vat registered taxpayer, operates a convenience store from which the gross receipts from sales, and payments on purchases from VAT registered suppliers were as follows (net of taxes): Sales of processed food items 280,000 Sales of non food items 220,000 Purchases of processed food items 100,000 Purchases of non food items 80,000 Salaried of helpers 48,000 B. Star Bus Company (a domestic common carrier) has the following data for the first quarter of the current year. Gross receipts, passenger operations 8,000,000 Gross revenue from cargo operations 5,000,000 Expenses, passenger operations 4,750,000 Expenses, cargo operations 2,500,000 Gross receipts - rental of facilities 2,000,000 Additional information: 25% of its gross revenue from cargo operations were still outstanding as of the end of the quarterStep by Step Solution
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