Reference no: EM133137922

Question - D Co. is a VAT trader. It had the following data in a month, VAT not included:

Sales P2,000,000

Costs and expenses -

Purchases of goods from VAT suppliers 600,000

Purchases of goods from non-VAT suppliers 200,000

Purchases of services from VAT providers 10,000

Purchases of services from non-VAT providers 5,000

Salaries of employees 250,000

Purchases of supplies from VAT suppliers 5,000

Purchase of a fixed asset from a VAT supplier with a life of 2 years 800,000

Required - How much was the value-added tax payable?