- When is the deadline of renewal of BIR registration if the business secured its business permit on August 3, 2021? (Complete Date)- How much of its gross sales are subject to value-added tax for the 1st Quarter?- How much is the income tax due of this taxpayer if it elected itemized deduction? Santelmo Mondragon Realty, Inc. is a real estate developer whose operation ismainly based in San Pedro and Biñan City, Laguna. For the 1st Quarter of 2022, thefollowing are disclosed. Assuming that the cost of sales is 40% of the gross salesand the operating expense is 20% of the gross sales.CategoryEternal Flame UnitWater and Flame UnitSet Fire to the Rain UnitJust Like Fire UnitI See Fire UnitFire Burns UnitFireball UnitSelling Price1,400,000.002,500,000.001,600,000.001,800,000.003,000,000.002,100,000.001,000,000.00Jan.1005695Units SoldFeb0130808Mar1613835w

The gross sales means sales price multiplied by quantity sold.…

Answered: cally, | bartleby

Business

Accounting

cally,

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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1.
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