Question
Philippine taxation 2020 A seller of goods reported the following for the month of November: Cash sale 450,000 Credit sales (40% collected) 650,000 Installment sales
Philippine taxation 2020
A seller of goods reported the following for the month of November:
Cash sale 450,000
Credit sales (40% collected) 650,000
Installment sales (30% collected) 400,000
Purchase of goods (vat included) 448,000
Purchase of equipment (vat included) 1,008,000.
Compute for Vat Payable.
A. 24,000
B. 0
C. 132,000
D. 130,200
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Cost Accounting Principles And Applications
Authors: Horace Brock, Linda Herrington, La Vonda Ramey
7th Edition
0071115609, 978-0071115605
