At the time of retirement, Tyre had 500 pcs of merchandise which was deemed sale at a value of P150,000 with an output tax of P18,000 After retirement, Tyre sold to Rey 100 pieces for P35,000. In the contract of sale Rey can claim an input tax of _
At the time of retirement, Tyre had 500 pcs of merchandise which was deemed sale at a value of P150,000 with an output tax of P18,000 After retirement, Tyre sold to Rey 100 pieces for P35,000. In the contract of sale Rey can claim an input tax of _
Chapter18: Accounting Periods And Methods
Section: Chapter Questions
Problem 29CE
Related questions
Question
At the time of retirement, Tyre had 500 pcs of merchandise which was deemed sale at a value
of P150,000 with an output tax of P18,000 After retirement, Tyre sold to Rey 100 pieces for
P35,000. In the contract of sale Rey can claim an input tax of _
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps with 2 images
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
![Individual Income Taxes](https://www.bartleby.com/isbn_cover_images/9780357109731/9780357109731_smallCoverImage.gif)
Individual Income Taxes
Accounting
ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT
![Individual Income Taxes](https://www.bartleby.com/isbn_cover_images/9780357109731/9780357109731_smallCoverImage.gif)
Individual Income Taxes
Accounting
ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT