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NOTE: Compute the Percentage payable, if any. Disregard any penalty, if any.   Relevant information: YOU are single, Filipino citizen, and a resident of N. Reyes St., Sampaloc, Manila As a nonVAT-registered taxpayer engaged in trading, the BIR RDO No. 032 - Manila assigned YOU Taxpayer Identification No. 123-456-789-0000.   As a person exempt from VAT due to not meeting the VAT threshold of Php 3 Million, YOU have made available the following transactions during the 3rd quarter of 2020. Total gross receipts for the July - Php 100,000.00 Total gross receipts for the August - Php 200,000.00 Total gross receipts for the September - Php 300,000.00 You opted for graduated tax rate

NOTE: Compute the Percentage payable, if any. Disregard any penalty, if any.   Relevant information: YOU are single, Filipino citizen, and a resident of N. Reyes St., Sampaloc, Manila As a nonVAT-registered taxpayer engaged in trading, the BIR RDO No. 032 - Manila assigned YOU Taxpayer Identification No. 123-456-789-0000.   As a person exempt from VAT due to not meeting the VAT threshold of Php 3 Million, YOU have made available the following transactions during the 3rd quarter of 2020. Total gross receipts for the July - Php 100,000.00 Total gross receipts for the August - Php 200,000.00 Total gross receipts for the September - Php 300,000.00 You opted for graduated tax rate

FINANCIAL ACCOUNTING
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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Taxation

NOTE: Compute the Percentage payable, if any. Disregard any penalty, if any.

 

Relevant information:

YOU are single, Filipino citizen, and a resident of N. Reyes St., Sampaloc, Manila

As a nonVAT-registered taxpayer engaged in trading, the BIR RDO No. 032 - Manila assigned YOU Taxpayer Identification No. 123-456-789-0000.  

As a person exempt from VAT due to not meeting the VAT threshold of Php 3 Million, YOU have made available the following transactions during the 3rd quarter of 2020.

  1. Total gross receipts for the July - Php 100,000.00
  2. Total gross receipts for the August - Php 200,000.00
  3. Total gross receipts for the September - Php 300,000.00
  4. You opted for graduated tax rate
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