Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

send your answers together with your computations/explanations. (business tax) 8. In 2021, Clifford purchase a condominium unit from Central Realty Corporation for P2,500,000 including a

image text in transcribed

send your answers together with your computations/explanations. (business tax)

8. In 2021, Clifford purchase a condominium unit from Central Realty Corporation for P2,500,000 including a parking space for P800,000. The correct amount of vat is: a. P456,000 c. P96,000 6. P360,000 d. PO 9. During 2021 taxable year a subdivision developer sold five (5) residential house and lots each to different vendees for P4,000,000 per lot, or a total sales of P20.000.000 for the taxable period. These sales shall be classified as: a. 12% VAT transactions b. 0% VAT transactions c. VAT exempt transactions d. None of the foregoing

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Life Audit Journal What Is My Why

Authors: A S

1st Edition

B08F6TXV7Z, 9798672209692

More Books

Students also viewed these Accounting questions

Question

Discuss five types of employee training.

Answered: 1 week ago

Question

Identify the four federally mandated employee benefits.

Answered: 1 week ago