Question
Nixx Corporation has the following sales during the 1st quarter of 2021: Sale to private entities subject to 12% Php 1,000,000 Sale to private entities
Nixx Corporation has the following sales during the 1st quarter of 2021:
Sale to private entities subject to 12% Php 1,000,000
Sale to private entities subject to 0% 1,000,000
Sale exempt from VAT 1,000,000
Sale to government 1,000,000
Total output tax due for the quarter is:
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Total output tax due for the quarter is VAT on Sales to Private Entitites 12 1000000 Php 120000 ...
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Intermediate Accounting
Authors: Donald E. Kieso, Jerry J. Weygandt, And Terry D. Warfield
13th Edition
9780470374948, 470423684, 470374942, 978-0470423684
