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  • Business Tax Chapter 9 (9-23 To 25)

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    Elai grace Fernandez
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    Dok Ling, a sole proprietor, registered for VAT and had P300,000 in sales, P200,000 in cost of sales, and P100,000 in ending inventory for the quarter. If all purchases were from VAT-registered businesses, the VAT payable is P24,000. M is a VAT-registered business with P2,240,000 in total sales inclusive of VAT. The direct tax paid to BIR in relation to VAT is P120,000. A is a non-VAT business with P1,500,000 in total sales of which 70% was collected, and P1,120,000 in total purchases inclusive of VAT. The business tax for A is P

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    Valencia 7th edition Chapter 9 Problems 23-25

    Original Title

    Business Tax Chapter 9 (9-23 to 25)

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    Dok Ling, a sole proprietor, registered for VAT and had P300,000 in sales, P200,000 in cost of sales, and P100,000 in ending inventory for the quarter. If all purchases were from VAT-registered businesses, the VAT payable is P24,000. M is a VAT-registered business with P2,240,000 in total sales inclusive of VAT. The direct tax paid to BIR in relation to VAT is P120,000. A is a non-VAT business with P1,500,000 in total sales of which 70% was collected, and P1,120,000 in total purchases inclusive of VAT. The business tax for A is P

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    22 views1 page

    Business Tax Chapter 9 (9-23 To 25)

    Uploaded by

    Elai grace Fernandez
    Dok Ling, a sole proprietor, registered for VAT and had P300,000 in sales, P200,000 in cost of sales, and P100,000 in ending inventory for the quarter. If all purchases were from VAT-registered businesses, the VAT payable is P24,000. M is a VAT-registered business with P2,240,000 in total sales inclusive of VAT. The direct tax paid to BIR in relation to VAT is P120,000. A is a non-VAT business with P1,500,000 in total sales of which 70% was collected, and P1,120,000 in total purchases inclusive of VAT. The business tax for A is P

    Copyright:

    © All Rights Reserved
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    Download as docx, pdf, or txt
    of 1

    Problem 9-23

    Dok Ling, a sole proprietor, opted to register as VAT. His transactions during the first quarter show the
    following:
    Sales 300,00
    0
    Cost of sales 200,00
    0
    Ending Inventory 100,00
    0

    If all of the purchases of merchandise were purchase from a VAT registered business, how much is the
    VAT payable of Dok Ling?
    a. 0
    b. 12,000
    c. 24,000
    d. 36,000
    Problem 9-24(pg. 432)
    M is a VAT-registered business with a total sales of P 2,240,000 inclusive of VAT. How much is the direct
    tax paid by M to the BIR in relation to VAT?
    a. 240,000
    b. 120,000
    c. 40,000
    d. 0
    Problem 9-25
    A is a non-VAT business with a total sales of P 1,500,000 of which 70% has been collected. Its total
    purchases inclusive of VAT is P 1,120,000. How much is the business tax of A?
    a. 180,000
    b. 120,000
    c. 60,000
    d. 45,000

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