Question
Problem 7. The business data of two vat registered merchants in the year 2013 are as follows: XYZ Company, a non-vat dealer of appliances
Problem 7. The business data of two vat registered merchants in the year 2013 are as follows: XYZ Company, a non-vat dealer of appliances in 2011 and 2012, became a Vat registered seller for the first time in January of year 2013: Invoice Prices of merchandise (inclusive of vat): a. Sold to MNO Corp. b. Sold to other customers P135,200 330,000 Purchase Prices of goods (exclusive of vat): Song to bosonsled-siduis P75,000 thods latigen 25,000 21,000 296,000 salgs 17,600 a. Merchandise b. Office Furniture c. Services from Vat Registered Person Value of merchandise inventory on December 31,2012 Actual input tax on the inventory MNO Corporation, a vat registered furniture shop; baxfon zorankring colors o a. Aside from the purchase price of merchandise from XYZ Company, it had other purchases of goods (exclusive of vat) from other vat registered persons amounting to P265,000. b. The corporation sold merchandise during the period for a total price of P412,000 (vat included). Likewise, defective merchandise were returned by its customers and credits of P14,500 were correspondingly made. c. Merchandise on consignment: oleh odlu botues or LAVE. quiben amens maldor Delivered to consignees and were sold for P75,000, vat inclusive 2105 hap Given to consignees, still with them unsold for 45 days, vat exclusive, P36,000 Sent to consignees, still with them unsold for 61-90 days, vat inclusive, P66,000 600.08 000 000.1 Required; Compute for the vat still payable for each firm. 1000.001 000,
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