Reference no: EM132759859
VAT AND PERCENTAGE
Victory Bus Lines had the following receipts during the quarter:
Gross receipts, without tax:
Transport of passengers 1,500,000
Transport of goods 1,450,000
Transport of cargoes 550,000
Problem 1: Get the output VAT and Percentage Tax Due
a) 240,000.00 and 45,000.00
b) 420,000.00 and 0
c) 420,000.00 and 45,000.00
d) 0 and 105,000.00
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