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 _

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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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 _

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