Bluedragon is engaged in the following business activities for the year 2021: buying and selling of computer of computer parts with gross sales of P1,500,000 and as a freelance graphic artist with gross receipts of P1,000,000. Determine the business tax and the business tax due. *

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Bluedragon is engaged in the following business activities for the year
2021: buying and selling of computer of computer parts with gross sales
of P1,500,000 and as a freelance graphic artist with gross receipts of
P1,000,000. Determine the business tax and the business tax due. *
O Percentage tax 1%; P 25,000
O Percentage tax 3%; P 75,000
O VAT 12%; P 300,000
O VAT Exempt; P 0
Transcribed Image Text:Bluedragon is engaged in the following business activities for the year 2021: buying and selling of computer of computer parts with gross sales of P1,500,000 and as a freelance graphic artist with gross receipts of P1,000,000. Determine the business tax and the business tax due. * O Percentage tax 1%; P 25,000 O Percentage tax 3%; P 75,000 O VAT 12%; P 300,000 O VAT Exempt; P 0
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