2-7. The taxpayer is a real estate dealerConsideration on the sale, per deed of saleZonal valueFair market value in the assessment rollsP4,000,0004,200,0004,500,000Payments, as follows:May 5, 2018 (date of sale)November 9, 2018May 5, 2019November 5, 2019·Value-added tax shown in the deed of sale?Output value-added tax on May 5, 2018 col-lection?500,000500,0001,500,0001,500,000

VAT is the value added tax. It is the tax which is charged on the products or the services, it is a…

Answered: Value-added tax shown in the deed of…

Business

Accounting

Value-added tax shown in the deed of sale? Output value-added tax on May 5, 2018 col- lection?

SWFT Corp Partner Estates Trusts

42nd Edition

ISBN:9780357161548

Author:Raabe

Publisher:Raabe

Chapter14: Taxes On The Financial Statements

Section: Chapter Questions

Problem 17CE

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