User Account

All Pages

How much is the VAT payable on the government sale

Assignment Help Accounting Basics
Reference no: EM133068851

Question - In September 2021, Geralds Autoparts sold P1,000,000 (VAT exclusive) worth of goods to the government. During the month, the government paid the goods of which it withheld 5% VAT. The goods sold to the government had a cost of P500,000 (VAT exclusive). How much is the VAT payable on the government sale?

 a. P0

b. P10,000

c. P50,000

d. P70,000

Reference no: EM133068851

Questions Cloud

Compute for the VAT payable : The refined sugar produced were sold on January 2020 on credit for P150,000, VAT exclusive. Compute for the VAT payable
How much was the output tax due on October : Initial payments consisting of down payment and installments in the year of sale - 900,000. How much was the output tax due on October 2013
Expected dollar profit on the security investment : Suppose you won the lottery and were offered a choice of $500,000 in cash or a gamble in which you could win $1 million based on a coin toss-heads you win, tail
What survivor income amount would fred receive : Lori followed your advice and delayed receipt of Social Security retirement benefits to age 70, increasing her benefit amount from her FRA benefit of $1,850 per
How much is the VAT payable on the government sale : The goods sold to the government had a cost of P500,000 (VAT exclusive). How much is the VAT payable on the government sale
Calculate cumulative probability of default : The following table summarizes yields for T-bonds and C-bonds respectively (do the calculations for four decimal places).
Prepare the journal entry to record the sale : Prepare the journal entry(ies) to record the sale and related cost of goods sold for Marigold Company on January 2, 2020, and the payment on January 28, 2020
What is the value of the bank stock : What is the value of the bank's stock? Use the free cash flow to equity model to value this stock. Do not round intermediate calculations.
How text is manipulated between active presentations : Explain how text is manipulated between active presentations?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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