Question
Rustico owns a small eatery near a trimobile parking area. Its annual gross receipts range from 400,000 to 450,000. In January, the gross receipts amounted
Rustico owns a small eatery near a trimobile parking area. Its annual gross receipts range
from 400,000 to 450,000. In January, the gross receipts amounted to 27,500 while
purchases of goods subject to VAT is 6,000 and not subject to VAT, 13,000. Compute
the percentage due for the month if Rustico is not a VAT registered taxpayer.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Strategic Managerial Accounting: Hospitality, Tourism & Events Applications
Authors: Tracy Jones, Helen Atkinson, Angela Lorenz, Peter Harris
6th Edition
9781908999023, 978-1908999016
