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QUESTION 1 Company D, a furniture manufacturing company, carried out the following transactions in a month: (1) Sold certain furniture products to several small-scale commercial
QUESTION 1 Company D, a furniture manufacturing company, carried out the following transactions in a month: (1) Sold certain furniture products to several small-scale commercial entities and received RMB259,900 (including VAT). (2) Acquired wood for RMB480,000 (excluding VAT, tax rate: 9%) from a timber mill. 20% of the wood purchased was used for the construction of a canteen for Company D's employees. (3) Paid RMB280,000, plus related VAT of RMB36,400 for materials. (4) Sold 20 sets of self-manufactured sofas to its own staff at a cost of RMB140,000 and donated two sets of sofas to a school. The market price of a set of sofas is RMB11,300 (including VAT). (5) Launched a sales scheme to allow for furniture trade-in. The money received from furniture sales under this scheme was RMB140,000 (excluding VAT), after netting off the RMB20,000 (excluding VAT) allowance given for the old furniture traded in Calculate the input and output value added tax (VAT) of Company D in respect of each of the above transactions
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