Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Taxpayer: [Your Name] TIN: 987-654-321-000 Address: Poblacion, Puerto Galera, Oriental Mindoro On October 1, 2020, you have started and registered two (2) businesses: a bus

Taxpayer: [Your Name] TIN: 987-654-321-000 Address: Poblacion, Puerto Galera, Oriental Mindoro On October 1, 2020, you have started and registered two (2) businesses: a bus transport company (Non-VAT) and a computer sales store (VAT). The results of the operations for the last quarter of 2019 were as follows: BUS TRANSPORT: Oct Nov Dec Gross receipts P1,100,000 P1,300,000 P1,500,000 Expenses: Gas and oil expenses 438,300 584,400 730,500 Salaries and wages 120,000 120,000 120,000 SSS, HDMF & PHIC Contributions 14,400 14,400 4,000 14,400 Communication Expenses 4,000 4,000 Depreciation 20,800 20,800 20,800 Taxes and Licenses 33,000 39,000 48,000

How much is the percentage Tax?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

To calculate the percentage tax for the bus transport business for the last quarter of 2019 we need ... 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

Step: 3

blur-text-image

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

Intermediate Accounting

Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas

10th edition

1260481956, 1260310175, 978-1260481952

More Books

Students also viewed these Accounting questions

Question

How would you describe the work atmosphere?

Answered: 1 week ago