User Account

All Pages

Compute the VAT payable

Assignment Help Accounting Basics
Reference no: EM133065336

Question - On January 30, 2021, XYZ Corporation, a non-VAT registered company, purchased from ABC Corporation, a VAT registered company, goods and paid a total amount P156,800, inclusive of VAT. on February 1, 2021, XYZ Corporation became liable to VAT. The goods were sold on February 28, 2021 for P280,000, VAT inclusive. Compute the VAT payable.

a. P30,000

b. P13,200

c. P27,200

d. P16,800

Reference no: EM133065336

Questions Cloud

Calculate the flat rate that was charged : A cabinet set selling for RM10,000 cash was purchased through an instalment plan in which a 15% down payment was made. Calculate the flat rate that was charged
Explain aggregated supply or aggregated demand : Strong winds hit the vessel and blew it sideways; the ship was wedged across the canal so that no other ships could pass.
Analyze ethical and legal dilemmas : Analyze ethical and legal dilemmas that healthcare workers may encounter in the medical field.
What are internal and external economies of scale : What are internal and external economies of scale? How do you explain these concepts using China's One Belt One Road initiative and the establishment of special
Compute the VAT payable : XYZ Corporation became liable to VAT. The goods were sold on February 28, 2021 for P280,000, VAT inclusive. Compute the VAT payable
Evaluate the concepts of equality of opportunity : Discuss and evaluate the concepts of equality of opportunity and equality of outcome; come up with examples of each.
Generate revenue for not-for-profit organizations : Auctions are widely used in finance, e-commerce, and e-games. They are also widely used to generate revenue for not-for-profit organizations.
Social media activities to prevent professional conflict : How can you monitor and control your own social media activities to prevent such a professional conflict?
Hire someone to fill an assistant manager position : Review the resume and make your decision. Make sure you can support your reasons for hiring or not hiring the applicant

Reviews

Write a Review

Accounting Basics Questions & Answers

  Determine the lower of cost or market for items

Question - Determine the lower of cost or market for items A and B using the information below

  Compute the lease obligation

The lease payment includes costs related to property taxes of $3,000. What amount of the $24,000 lease payment is used to compute the lease? obligation

  Calculate the gross profit for each greenhouse and garden

Calculate the gross profit for each greenhouse and garden seat on the assumption that selling prices remain the same (using the overheads absorbed)

  How much will you have at the end

You will put $150 in the bank at the begining of each of month for 23 months to earn 5% per annum. How much will you have at the end of the 23 months

  Find and journalize the formation of the partnership

Journalize the formation of this partnership. J. Gould brings with her $9500 cash and an automobile that was purchased for $30,000. Accumulated amortization

  Entry into foreign market

Cameron International Corporation with revenues of $6,134.8 million (FY 2010), net profit of $562.9 million (FY 2010) and an operating profit of $858.5 (FY 2010), provides flow equipment and pressure control equipment for both land and sea oil rig..

  How much cash was received by angeles co on february

How much Purchase returns & allowances were recorded by Angeles Co. on February 14, 2020? How much cash was received by Angeles Co. on February 14?

  Billy bing ping pong corporation manufactures a single

billy bing ping pong corporation manufactures a single product premium pink ping pong balls. each premium pink ping

  What is the amount of the April collections

26% of the sales are collected in the same month. 18% of the sales are collected after one month, What is the amount of the April collections

  Follow for the short-term change

Imagine that you are an executive for XYZ, Inc., a high-end retail chain that sells luxury watches, jewelry, and hand bags. You've just been put in charge of the company's first international expansion, opening a store in Shanghai, China.

  How much Overhead billed to client for each billable hour

Using the office-wide overhead application rate, during the year how much Overhead was billed to a client for each billable hour recorded on their account

  Following is information from jesper company

Following is information from Jesper Company for its initial month of business.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd