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Stress Na Ako Aa Pag Gawa ng Questions Corp. (SQ Corp.), a VAT- registered entity, loves fresh milk from the greatest cows. So SQ
Stress Na Ako Aa Pag Gawa ng Questions Corp. (SQ Corp.), a VAT- registered entity, loves fresh milk from the greatest cows. So SQ Corp buys it fresh from a local dairy farm. They will use the milk to make pasteurized milk. Further, they also sell advertising space on their milk cartons. During the 3rd quarter, they have the following data Unprocessed fresh cow milk bought from dairy farms Packaging materials Other factory supplies Advertising Income (30% are still unpaid) Sale of pasteurized milk (25% are still unpaid) O T_T 119,760 62,960 P 1,420,000 44,132 688,800 All of the above amounts are VAT inclusive, if applicable. How much is the VAT payable for the quarter? 952,000 585,760 2,172,800
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