Question
The company has the following information for the 1st quarter of its operation during the taxable year 2021: Description January February March Current Sales Vatable
The company has the following information for the 1st quarter of its operation during the taxable year 2021:
Description | January | February | March |
Current Sales | |||
Vatable Sales/Receipts | 5,500,000 | 10,100,000 | 10,700,00 |
Zero-Rated Sales/Receipts | 1,500,000 | 1,600,000 | 1,800,000 |
Exempt Sales/Receipts | 750,000 | 760,000 | 850,000 |
Excess Input Tax from Previous Quarter (Last December 2020) | 450,000 | - | - |
Previous Purchase | |||
Deferred Input Tax, Beginning | 1,200,000 | 1,000,000 | 800,000 |
Deferred Input Tax, Ending | 1,000,000 | 800,000 | 600,000 |
Current Purchase | |||
Domestic Purchase of Goods (Not Capital) | 3,500,000 | 2,500,000 | 3,600,000 |
Importation of Goods (Not Capital) | 550,000 | 330,000 | 520,000 |
Domestic Purchase of Services | 700,000 | 520,000 | 780,000 |
Services Rendered by Non-Residents (VAT Withheld using BIR Form 1600) | 300,000 | 260,000 | 370,000 |
Purchases Not Qualified for Input Tax | 3,500,000 | 4,000,000 | 5,000,000 |
Using BIR Form No. 2550Q, what information should be indicated in Part II - Line Item 15A for the 1st Quarter?
a. P10,700,000
b. P3,156,000
c. P26,300,000
d. P1,284,000
Using BIR Form No. 2550Q, what information should be indicated in Part II - Line Item 19B for the 1st Quarter?
a. P29,110,000
b. P13,350,000
c. P3,156,000
d. P1,284,000
Using BIR Form No. 2550Q, what information should be indicated in Part II - Line Item 20A for the 1st Quarter?
a. P17,200
b. P596,000
c. P450,000
d. - P17,200
Using BIR Form No. 2550Q, what information should be indicated in Part II - Line Item 20B for the 1st Quarter?
a. P800,000
b. P1,200,000
c. P1,000,000
d. P200,000
Using BIR Form No. 2550Q, what information should be indicated in Part II - Line Item 29 for the 1st Quarter?
a. P433,200
b. - P433,200
c. P429,800
d. P434,400
Using BIR Form No. 2550Q, what information should be indicated in Line Item 2?
a. 4th
b. 2nd
c. 3rd
d. 1st
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