Serbesa Company is a manufacturer of local beer. During a particular quarter, it had the following transactions (net of VAT): Jan. 2: Consigned beer to a retailer in Quezon City amounting to P200,000 Feb. 14: Exported P1,000,000 worth of beer to UK. Feb. 27: President of Serbesa Company celebrated his birthday, consuming P50,000 worth of beer given to him by the company as a birthday gift. Mar. 20: Declared property dividend of one case of beer for every 10 shares amounting to P150.000 Additional Information: From January to March, domestic sales to wholesalers amounted to P600,000. No beer was returned by the consignee until the end of the quarter. The output tax for the quarter iS: P48,000 P72,000 P120,000 P192,000
Serbesa Company is a manufacturer of local beer. During a particular quarter, it had the following transactions (net of VAT): Jan. 2: Consigned beer to a retailer in Quezon City amounting to P200,000 Feb. 14: Exported P1,000,000 worth of beer to UK. Feb. 27: President of Serbesa Company celebrated his birthday, consuming P50,000 worth of beer given to him by the company as a birthday gift. Mar. 20: Declared property dividend of one case of beer for every 10 shares amounting to P150.000 Additional Information: From January to March, domestic sales to wholesalers amounted to P600,000. No beer was returned by the consignee until the end of the quarter. The output tax for the quarter iS: P48,000 P72,000 P120,000 P192,000
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
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Question
Serbesa Company is a manufacturer of local beer. During a particular quarter, it had the following
transactions (net of VAT):
Jan. 2: Consigned beer to a retailer in Quezon City amounting to P200,000
Feb. 14: Exported P1,000,000 worth of beer to UK.
Feb. 27: President of Serbesa Company celebrated his birthday, consuming P50,000 worth of beer
given to him by the company as a birthday gift.
Mar. 20: Declared property dividend of one case of beer for every 10 shares amounting to
P150.000
Additional Information: From January to March, domestic sales to wholesalers amounted to
P600,000. No beer was returned by the consignee until the end of the quarter. The output tax for
the quarter iS:
P48,000
P72,000
P120,000
P192,000
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