How much business tax payable for the third quarter return if:i. it only been able to have its VAT registration during the month of Septemberii. it opted for the 8% optional tax iii. tax overpayments are applied for credit? A non-VAT taxpayer recorded the following for the first three quarters of 2021.Vatable ReceiptsInput VATJanuary – June2,820,000135,000July250,00012,000August180,0008,000September160,0007,000

Value-added tax (VAT) is a multi-stage tax charged on the incremental value added to a product or…

How much business tax payable for the third quarter return if: i. it only been able to have its VAT registration during the month of September ii. it opted for the 8% optional tax iii. tax overpayments are applied for credit?

How much business tax payable for the third quarter return if: i. it only been able to have its VAT registration during the month of September ii. it opted for the 8% optional tax iii. tax overpayments are applied for credit?

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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Jumping Jumpers Smocking, Inc., is a monthly depositor whose December federal taxes are displayed below. Record one journal entry to account for the payment of the federal taxes. All tax payments are made in a timely manner on the payment due date (which, for this month, is not impacted by a weekend or holiday). Chart of Accounts Notes: • Enter the transaction date on the first line only (if multiple transactions are required, enter the date on the first line of each transaction). Enter all debits within the transaction prior to entering any credits. • See the Chart of Accounts provided for the proper account names to use. • To earn any credit for a given line within the journal entry, the account name must be correct. Partial credit given for a correct account name with an incorrect amount; full credit is given for a correct account name with the correct amount. • Do not include journal entry explanation when submitting your answer. December Tax Totals Federal Income Tax Employer's…
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Summary Payroll Data Assume that the social security tax rate is 6% and the Medicare tax rate is 1.5%. In the following summary of data for a payroll period, some amounts have been intentionally omitted: Earnings: 1. At regular rate ? 2. At overtime rate $80,000 3. Total earnings ? Deductions: 4. Social security tax 32,400 5. Medicare tax 8,100 6. Federal income tax withheld 135,000 7. Medical insurance 18,900 8. Union dues ? 9. Total deductions 201,150 10. Net amount paid 338,850 Accounts debited: 11. Factory Wages 285,000 12. Sales Salaries ? 13. Office Salaries 120,000 a. Determine the amounts omitted in lines (1), (3), (8), and (12). (1) $fill in the blank 87b534fc705303d_1 (3) $fill in the blank 87b534fc705303d_2 (8) $fill in the blank 87b534fc705303d_3 (12) $fill in the blank 87b534fc705303d_4 b. Journalize the entry to record the payroll accrual. If an amount box does not require…
Strictly follow USA Rules. Previous answer is wrong , if wrong this time i will report.