For 2021 taxable year, determine whether the folliowing is subject to vat. Write "V" in the space provided if the transaction is subject to vat. Write "E" if the transaction is vat exempt. Case A Transaction Answer Sale by a real estate dealer of residential lot with a selling price of P800,000. В Sale by a real estate dealer of residential lot with a selling price of P3,500,000. C Sale by a real estate dealer of commercial lot with a selling price of P2,800,000. Sale of residential lot classified as capital asset. Sale by a real estate dealer of residential house and lot with a selling price of P3,000,000) F E Sale by a real estate dealer of condominium unit with a selling price of P3,250,000) G Sale by a real estate dealer of parking lot in a condominium unit with a selling price of P850,000) Sale of residential house and lot classified as capital asset with a selling price of P8.000.000) H

For 2021 taxable year, determine whether the folliowing is subject to vat. Write "V" in the space provided if the transaction is subject to vat. Write "E" if the transaction is vat exempt. Case A Transaction Answer Sale by a real estate dealer of residential lot with a selling price of P800,000. В Sale by a real estate dealer of residential lot with a selling price of P3,500,000. C Sale by a real estate dealer of commercial lot with a selling price of P2,800,000. Sale of residential lot classified as capital asset. Sale by a real estate dealer of residential house and lot with a selling price of P3,000,000) F E Sale by a real estate dealer of condominium unit with a selling price of P3,250,000) G Sale by a real estate dealer of parking lot in a condominium unit with a selling price of P850,000) Sale of residential house and lot classified as capital asset with a selling price of P8.000.000) H

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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