Sandra, a non-VAT taxpayer sold to Kyle, a VAT taxpayer, his goods for P50,000. The next day, Kyle sells the same goods to Bimbie, a VAT taxpayer for P89,600. Bimbie on the same day, sold the same goods to PCSI Co., Inc, a VATtaxpayer, and an accredited exporter in the Philippines for P 123,200. The next day, PCSI Co., exports the same goods for $ 7000 to USA ($1 = Php 45). All amounts given are total invoice prices. Question: The Overpayment of PCSI is
Sandra, a non-VAT taxpayer sold to Kyle, a VAT taxpayer, his goods for P50,000. The next day, Kyle sells the same goods to Bimbie, a VAT taxpayer for P89,600. Bimbie on the same day, sold the same goods to PCSI Co., Inc, a VATtaxpayer, and an accredited exporter in the Philippines for P 123,200. The next day, PCSI Co., exports the same goods for $ 7000 to USA ($1 = Php 45). All amounts given are total invoice prices. Question: The Overpayment of PCSI is
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
Related questions
Question
Sandra, a non-VAT taxpayer sold to Kyle, a VAT taxpayer, his goods for P50,000. The next day, Kyle sells the same goods to Bimbie, a VAT taxpayer for P89,600. Bimbie on the same day, sold the same goods to PCSI Co., Inc, a VATtaxpayer, and an accredited exporter in the Philippines for P 123,200. The next day, PCSI Co., exports the same goods for $ 7000 to USA ($1 = Php 45). All amounts given are total invoice prices.
Question: The Overpayment of PCSI is:
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Recommended textbooks for you
Essentials Of Investments
Finance
ISBN:
9781260013924
Author:
Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:
Mcgraw-hill Education,
Essentials Of Investments
Finance
ISBN:
9781260013924
Author:
Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:
Mcgraw-hill Education,
Foundations Of Finance
Finance
ISBN:
9780134897264
Author:
KEOWN, Arthur J., Martin, John D., PETTY, J. William
Publisher:
Pearson,
Fundamentals of Financial Management (MindTap Cou…
Finance
ISBN:
9781337395250
Author:
Eugene F. Brigham, Joel F. Houston
Publisher:
Cengage Learning
Corporate Finance (The Mcgraw-hill/Irwin Series i…
Finance
ISBN:
9780077861759
Author:
Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor
Publisher:
McGraw-Hill Education