ABC Corporation has the following sales during the 1st quarter of 2021: Sale to private entities subject to 12% Php 1,000,000 Sale to private entities subject to 0% 1,000,000 Sale exempt from VAT 1,000,000 Sale to government 1,000,000 Total output tax due for the quarter is:
ABC Corporation has the following sales during the 1st quarter of 2021: Sale to private entities subject to 12% Php 1,000,000 Sale to private entities subject to 0% 1,000,000 Sale exempt from VAT 1,000,000 Sale to government 1,000,000 Total output tax due for the quarter is:
Chapter14: Taxes On The Financial Statements
Section: Chapter Questions
Problem 25P
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ABC Corporation has the following sales during the 1st quarter of 2021:
Sale to private entities subject to 12% Php 1,000,000
Sale to private entities subject to 0% 1,000,000
Sale exempt from VAT 1,000,000
Sale to government 1,000,000
Total output tax due for the quarter is:
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