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  • Solutions To RSB Exam

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    Sheila Pandeagua
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    The document contains financial information for 3 sections. Section 1 details total receipts of ₱364,000 with ₱39,000 in output VAT and ₱24,000 in VAT payable. Section 2 shows compensation income of ₱400,000 with net taxable income of ₱270,000 and income tax of ₱4,000. Section 3 lists VAT payable of ₱15,000 along with vatable purchases, sales, and output VAT amounts.

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    Solutions to Rsb Exam

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    The document contains financial information for 3 sections. Section 1 details total receipts of ₱364,000 with ₱39,000 in output VAT and ₱24,000 in VAT payable. Section 2 shows compensation income of ₱400,000 with net taxable income of ₱270,000 and income tax of ₱4,000. Section 3 lists VAT payable of ₱15,000 along with vatable purchases, sales, and output VAT amounts.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xlsx, pdf, or txt
    15 views2 pages

    Solutions To RSB Exam

    Uploaded by

    Sheila Pandeagua
    The document contains financial information for 3 sections. Section 1 details total receipts of ₱364,000 with ₱39,000 in output VAT and ₱24,000 in VAT payable. Section 2 shows compensation income of ₱400,000 with net taxable income of ₱270,000 and income tax of ₱4,000. Section 3 lists VAT payable of ₱15,000 along with vatable purchases, sales, and output VAT amounts.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xlsx, pdf, or txt
    of 2

    1 Total Receipts ₱ 364,000

    / 112%
    Vatable ₱ 325,000
    12%
    Output VAT ₱39,000

    Total Expenses 140,000


    112%
    Vatable ₱ 125,000
    12%
    Input VAT ₱15,000
    VAT Payable ₱24,000

    2 Compensation Income 400,000


    Expenses 130,000
    Net Taxable Income 270,000

    Excess over 250,000 20,000


    Tax Rate 20%
    Income Tax 4,000

    3 VAT Payable 15,000


    Vatable Purchases 100,000 112000
    Vatable Sales 225000 252000
    140000
    Output Vat 27000
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