Question
Migo had the following transactions for the month: Sale of hogfeeds P300,000 Sale of specialty feeds for pets 200,000 Sale of fertilizers 100,000 Purchase of
Migo had the following transactions for the month:
Sale of hogfeeds P300,000
Sale of specialty feeds for pets 200,000
Sale of fertilizers 100,000
Purchase of raw materials for the formulation of hogfeeds 150,000
Purchase of raw materials for the formulation of specialty feeds 100,000
Importation of raw materials for the formulation of fertilizers 50,000
1. How much is the amount of output vat?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
To calculate the output VAT Value Added Tax for Migos transactions we need to determine the total ...
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Financial Accounting Tools for Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine
7th Canadian edition
1119368456, 978-1119211587, 1119211581, 978-1119320623, 978-1119368458
