A VAT-registered business makes a sale of P10,000, inclusive of VAT. The VAT on the sale can be computed as a. P10,000 x 12% b. P10,000 12%. c. P10,000 x 12%/112% d. P10,000 -12%/112%
1. A VAT-registered business makes a sale of P10,000, inclusive of
VAT. The VAT on the sale can be computed as
a. P10,000 x 12%
b. P10,000 12%.
c. P10,000 x 12%/112%
d. P10,000 -12%/112%
2. A Non-VAT registered business makes total sales of P110.000
during a taxable period.
The percentage tax can be computed as
a. P110,000 x 3%.
b. P110,000 3%.
c. P110,000 x 3%/103%
d. P110,000 3%/103%
3. A VAT-registered business makes a sale of P34,500, inclusive of
VAT. The amount of sale that was reported in the statement of
comprehensive income can be computed as
a. P34,500 x 112%.
b. P34,500 112%.
c. P34,500 x 12%/112%
d. P34,500 12%/112%
4. A VAT-registered business has total sales of P62,720 and total
purchases of P25,088, both inclusive of VAT. How much is the
net VAT payable to the BIR?
a. 1,882 b. 4,032 c. 4,516 d. 5,224
5. A Non-VAT business has total sales of P200,720. How much is the
sales tax payable to the BIR?
a. 2,007
b. 4,015
c. 4,516
d. 6,022
Step by step
Solved in 3 steps
