Farm Solutions, Inc, sold the following items to farmers for the taxable quarter ending June 30, 2021: Fertilizers P3,040,000 Pesticides 2,260,000 Seeds 3,200,000 Seedlings 6,050,000 Farm equipment 18,730,000 Total P33,280,000 1. How much is Farm Solutions, Inc's Output VAT 2. When should Farm Solutions file its VAT return for the taxable quarter ending June 30, 2021 3. When should Farm Solutions file its VAT return for the taxable quarter ending June 30, 2021
Farm Solutions, Inc, sold the following items to farmers for the taxable quarter ending June 30, 2021: Fertilizers P3,040,000 Pesticides 2,260,000 Seeds 3,200,000 Seedlings 6,050,000 Farm equipment 18,730,000 Total P33,280,000 1. How much is Farm Solutions, Inc's Output VAT 2. When should Farm Solutions file its VAT return for the taxable quarter ending June 30, 2021 3. When should Farm Solutions file its VAT return for the taxable quarter ending June 30, 2021
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Farm Solutions, Inc, sold the following items to farmers for the taxable quarter ending June 30, 2021:
Fertilizers P3,040,000
Pesticides 2,260,000
Seeds 3,200,000
Seedlings 6,050,000
Farm equipment 18,730,000
Total P33,280,000
1. How much is Farm Solutions, Inc's Output VAT
2. When should Farm Solutions file its VAT return for the taxable quarter ending June 30, 2021
3. When should Farm Solutions file its VAT return for the taxable quarter ending June 30, 2021
4. Assuming Farm Solutions is an agricultural cooperative, and the farmer are its members, how much is Farm Solutions' output VAT?
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