ABC Corporation has the following sales during the 1st quarter of 2021: Sale to private entities subject to 12% Php 1,000,000 Sale to private entities subject to 0% 1,000,000 Sale exempt from VAT 1,000,000 Sale to government 1,000,000 Total output tax due for the quarter is:
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ABC Corporation has the following sales during the 1st quarter of 2021:
Sale to private entities subject to 12% Php 1,000,000
Sale to private entities subject to 0% 1,000,000
Sale exempt from VAT 1,000,000
Sale to government 1,000,000
Total output tax due for the quarter is:
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- ABC Corporation has the following sales during the 1st quarter of 2021: Sale to private entities subject to 12% Php 1,000,000 Sale to private entities subject to 0% 1,000,000 Sale exempt from VAT 1,000,000 Sale to government 1,000,000 The following input taxes were passed on by ABC Corp.'s VAT suppliers: Input tax on taxable goods 50,000 Input tax on zero-rated sale 30,000 Input tax on sale of exempt goods 20,000 Input tax on sale to government 40,000 Input tax on depreciable capital goods not attributable to any specific activity 40,000 Total available input tax due for the quarter is:32 ABC Corporation has the following sales during the 1st quarter of 2021: Sale to private entities subject to 12% Php 1,000,000 Sale to private entities subject to 0% 1,000,000 Sale exempt from VAT 1,000,000 Sale to government 1,000,000 Total output tax due for the quarter is:_________ Note: Write only the amount without comma, no peso sign and round off to the nearest peso (e.g. write 100000 only if the answer is One Hundred Thousand Pesos). If your answer is Zero, write 0 only.ABC Corporation has the following sales during the 1st quarter of 2021: Sale to private entities subject to 12% Php 1,000;000 Sale to private entities subject to 0% 1,000,000 Sale exempt from VAT 1,000,000 Sale to government 1,000,000 The following input taxes were passed on by ABC Corps VAT suppliers: Input tax on taxable goods 50-000 Input tax on zero-rated sale 30,000 Input tax on sale of exempt goods 20,000 Input tax on sale to government 40,000 Input tax on depreciable capital goods not attributable to any specific activity 40.000 Total input tax which can be refunded is:
- ABC Corporation has the following sales during the 1ª quarter of 2021: Sale to private entities subject to 12% Php1,000,000 Sale to private entities subject to 0% 1,000,000 Sale exempt from VAT 1.000.000 Sale to government 1,000.000 The following input taxes were passed on by ABC Corps VAT suppliers: Input tax on taxable goods 50.000 Input tax on zero-rated sale 30,000 Input tax on sale of exempt goods 20,000 Input tax on sale to government 40,000 Input tax on depreciable capital goods not attributable to any specific activity 40,000 Total available input tax due for the quarter is:CarRoq Corporation, a domestic dorporation a retailer of goods has gross sales of P 1,400,000,000 with a cost of Sales of P560,000,000 and allowable deductions of P150,000,000.00 for the calendar year 2021, its total assets of P180,000,000 includes the P50,000,000 and the building of P 25,000,000. How much is the income tax due?In 2021 XY corporation is subject to MCIT has the following records Sales: net of discounts and allowances php 9,500,000 cost of sales php 5,000,000 gain on sale of building php 150,000 allowable deductions php 4,420,000 Compute the income tax payable of XYZ Corporation P46,000 P46,500 P76,000 P95,000
- 34 ABC Corporation has the following sales during the 1st quarter of 2021: Sale to private entities subject to 12% Php 1,000,000 Sale to private entities subject to 0% 1,000,000 Sale exempt from VAT 1,000,000 Sale to government 1,000,000 The following input taxes were passed on by ABC Corp.'s VAT suppliers: Input tax on taxable goods 50,000 Input tax on zero-rated sale 30,000 Input tax on sale of exempt goods…On June 30, 2021, Casio Sony Company sold a property carried in inventory at a cost of P1,894,200 for P2,800,000. A 20% down payment was made and the balance payable in 8 equal installments of P280,000, payable quarterly starting September 30 and December 31, 2021. The market rate of interest is 12%.Required:How much is the total realized gross profit in 2021?35 ABC Corporation has the following sales during the 1st quarter of 2019: Sale to private entities subject to 12% Php 1,000,000 Sale to private entities subject to 0% 1,000,000 Sale exempt from VAT 1,000,000 Sale to government 1,000,000 The following input taxes were passed on by ABC Corp.'s VAT suppliers: Input tax on taxable goods 50,000 Input tax on zero-rated sale 30,000 Input tax on sale of exempt goods…
- A retailer has a gross sale of P1,400,000 with cost of sales of P560,000 and allowable deductions of P150,000 November 2021. Its total assets of P180,000 as of November 30, 2021. Corporate Tax Rate is 25%. If the company can realize 25% increase in its gross sales for December 2021, what is the possible tax implications?Oak Corporation holds the following general business credit carryovers: 2016 $5,000 2017 15,000 2018 6,000 2019 19,000 Total carryovers $45,000 The Oak's general business credit generated by 2020 activities equals $36,000 and the total credit allowed during the current year is $60,000 (based on tax liability). a. Enter the amount (if any) of each year's carryover utilized in 2020. Amount of Carryover Year Utilized 2016 2017 2018 2019 2020 b. What is the amount of any unused credits carried forward to 2021? %24A retailer has a gross sales of P1,400,000 with cost of sales of P560,000 and allowable deductions of P150,000 November2021. Its total assets of P180,000 as of November 30, 2021. Corporate Tax Rate is 25%. If the company can realize 25% increase in its gross sales for December2021, what is the possible tax implication?