Vat Payable in January is? *Given the following date during the 1st quarter of 2022:MonthJanuaryFebruaryOutput Tax20,00040,00050,000Input Tax15,00022,00010,000MarchIn the books, there was a debit balance of input tax of 8,000from preceding quarter/year.(3,000)5,000O 3,000

Vat payable is the amount of output tax collected payable to the taxation authority after setting…

Vat Payable in January is? * Given the following date during the 1st quarter of 2022: Output Tax Input Tax 20,000 40,000 50,000 Month January February 15,000 22,000 10,000 March In the books, there was a debit balance of input tax of 8,000 from preceding quarter/year. О 3,000) 5,000 3,000 O O O

Vat Payable in January is? * Given the following date during the 1st quarter of 2022: Output Tax Input Tax 20,000 40,000 50,000 Month January February 15,000 22,000 10,000 March In the books, there was a debit balance of input tax of 8,000 from preceding quarter/year. О 3,000) 5,000 3,000 O O O

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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Question

Vat Payable in January is? *
Given the following date during the 1st quarter of 2022:
Month
January
February
Output Tax
20,000
40,000
50,000
Input Tax
15,000
22,000
10,000
March
In the books, there was a debit balance of input tax of 8,000
from preceding quarter/year.
(3,000)
5,000
O 3,000

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