SAN JOSE Airlines, a domestic carrier had the following gross receipts for the month of July 2018: carriage of passenger is P 5,000,000; carriage of cargo is P 6,000,000 and carriage of other goods is P 2,000,000. What is the amount of OPT due from SAN JOSE?
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SAN JOSE Airlines, a domestic carrier had the following gross receipts for the month of July 2018: carriage of passenger is P 5,000,000; carriage of cargo is P 6,000,000 and carriage of other goods is P 2,000,000. What is the amount of OPT due from SAN JOSE?
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- lsarog is a common carrier. with passenger buses and cargo trucks. For the month of June 2018, it had the following data on gross revenues and receipts (exclusive of taxes):For transporting passengers (receipts) P660,000For transporting cargoes (revenues). 440,000Actual receipts amounted only to P400, 000.For renting out to the MMDA its towing trucks (receipts) 100,000P20,000 represents revenue from the first quarterand the balance of P80, 000 represents receiptsfrom income earned in June. The output vat is:Supercat is a common carrier by sea. During a particular quarter, its receipts consists of the following ( exclusive of taxes): Transport of passengers P2,000,000Transport of goods 3,000,000Transport of cargoes 1,500,000The output VAT and OPT due for the quarter are: Output Vat OPT Due Group of answer choices P780,000 P195,000 P540,000 P0 780,000 P0 P540,000 P60,000An importer-trader had the following data in month. VAT not included: Landed cost on an importation Expenses on the importation after removal from Customs duty Selling price of goods imported How much is the value-added tax payable on the sale? 1, 000,000 50, 000 2, 000,000
- What will be the amount of payment on a bill of goods amounting to P6,700; terms 4/10, 3/20, n/30 dated August 16; and paid August 31?Presented below is information for Ayayai Company for the month of March 2020. Cost of goods sold $212,100 Rent expense $30,100 Freight-out 6,010 Sales discounts 7,010 Insurance expense 5,100 Sales returns and allowances 12,010 Salaries and wages expense 55,100 Sales revenue 385,000 Compute the gross profit rate. (Round answer to 2 decimal places, e.g. 25.20%.) Gross profit rate Enter the gross profit rate in percentages %Cebu Branch submitted the following data to its home office in Manila for 2021, its first year of operation: Sales P2,300,000; Shipments from Home Office P1,850,000; Operating expenses P235.000; Home Office Current P480,000. Shipments to the branch are billed at cost. The December 31 inventory of the branch was P255,500. What was the balance of the Investment in Branch account on December 31, 2021 on the home office books?
- Mema Inc. branch in Cebu began operations on January 2, 2022. During the first year of operations, the home office shipped merchandise to the Malate branch at cost of P250,000. One-fourth of the merchandise remained unsold at the end of 2022. Freight-in of P2,000 on the shipments from the home office was paid by the branch. The home office should make an adjusting entry for freight-in as followsThe following selected transactions were completed during April between Swan Company and Bird Company:Apr. 2. Swan Company sold merchandise on account to Bird Company, $32,000, terms FOB shipping point, 2/10, n/30. Swan Company paid freight of $330, which was added to the invoice. The cost of the merchandise sold was $19,200.8. Swan Company sold merchandise on account to Bird Company, $49,500, terms FOB destination, 1/15, n/30. The cost of the merchandise sold was $29,700.8. Swan Company paid freight of $710 for delivery of merchandise sold to Bird Company on April 8.12. Bird Company paid Swan Company for purchase of April 2.18. Swan Company paid Bird Company a refund of $2,000 for defective merchandise in the April 2 purchase. Bird Company agreed to keep the merchandise.23. Bird Company paid Swan Company for purchase of April 8.24. Swan Company sold merchandise on account to Bird Company, $67,350, terms FOB shipping point, n/45. The cost of the merchandise sold was $40,400.26. Bird…The following selected transactions were completed during April between Swan Company and Bird Company: Apr.2. Swan Company sold merchandise on account to Bird Company, $14,800, terms FOB shipping point, 2/10, n/30. Swan Company paid freight of $330, which was added to the invoice. The cost of the merchandise sold was $9,300. 8. Swan Company sold merchandise on account to Bird Company, $23,000, terms FOB destination, 1/15, n/30. The cost of the merchandise sold was $13,800. 8. Swan Company paid freight of $820 for delivery of merchandise sold to Bird Company on April 8. 12. Bird Company paid Swan Company for purchase of April 2. 18. Swan Company paid Bird Company a refund of $2,000 for defective merchandise in the April 2 purchase. Bird Company agreed to keep the merchandise. 23. Bird Company paid Swan Company for purchase of April 8. 24. Swan Company sold merchandise on account to Bird Company, $11,800, terms FOB shipping point, n/45. The cost of the merchandise sold was…
- The following selected transactions were completed during April between Swan Company and Bird Company: Apr.2. Swan Company sold merchandise on account to Bird Company, $14,800, terms FOB shipping point, 2/10, n/30. Swan Company paid freight of $330, which was added to the invoice. The cost of the merchandise sold was $9,300. 8. Swan Company sold merchandise on account to Bird Company, $23,000, terms FOB destination, 1/15, n/30. The cost of the merchandise sold was $13,800. 8. Swan Company paid freight of $820 for delivery of merchandise sold to Bird Company on April 8. 12. Bird Company paid Swan Company for purchase of April 2. 18. Swan Company paid Bird Company a refund of $2,000 for defective merchandise in the April 2 purchase. Bird Company agreed to keep the merchandise. 23. Bird Company paid Swan Company for purchase of April 8. 24. Swan Company sold merchandise on account to Bird Company, $11,800, terms FOB shipping point, n/45. The cost of the merchandise sold was…Presented below is selected information for Marigold Company for the month of March 2022. Cost of goods sold $228,780 Rent expense $33,520 Freight-out 7,400 Sales discounts 7,800 Insurance expense 6,070 Sales returns and allowances 13,200 Salaries and wages expense 56,340 Sales revenue 393,000Presented below is information for Chivu Company for the month of March 2020: Cost of goods sold s50,000 Salaries and wages Expense S8,000 Sales Revenue Freight-out 7.000 as0,000 Sales Returns and Allowances interest Expense 4,000 3,000 Required: Prepare a multiple-step income statement for the month of March by completing the following Salaries and wages Expense Operating Expense Total Operating Expense