A VAT-registered taxpayer has the following VAT-exclusive data for the month of January 2017:

Q: Use the percentage method to compute the federal income taxes to withhold from the wages or salaries…

A: The percentage method is applicable for any no. of withholding allowances. This method is used by…

Q: Ben Fernandez a VAT-registered taxpayer had the following data for each of the months indicated of…

A: Vat is known as value added tax. Vat rate in Philippines is 12% Input vat means the vat amount which…

Q: A service provider had the following data during the month: Revenue, including VAT…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: In 2018, Juan signified his intention to be taxed at 8% income tax rate on gross sales in his 1*…

A: Income tax payable is the current obligation to be paid for the current year by applying a certain…

Q: At the end of March, account balances are: 190 Def. VAT: 20.000 TL. 191 Ded. VAT: 30.000 TL, 391…

A: Tax Payable:- It is the payment which one made on the income earned within the country or from…

Q: A certain taxpayer paid the following bill from a VAT-registered supplier of office supplies. The…

A: A VAT registered tax payer shall be eligible to claim Input Tax Credit paid on purchases which is…

Q: In the third quarter of 2017, a taxpayer engaged in the sale of services whose annual gross receipts…

A: The answer is stated below:

Q: Oakdale Fashions, Inc. had $245.000 in 2018 taxable income. Using the tax schedule in Table 2.3 to…

A: Income slab Tax amount Tax till $100,000 $22,250 $100,001 - $245,000 $145,000 x 39% = $56,550…

Q: Use the 2016 marginal tax rates to compute the income tax owed by the following person. Unmarried…

A: Itemized deduction includes state taxes of $ 3480 and $ 1000 theft losses. However the standard…

Q: How much is the business tax payable for the October?

A: Vat payable is the amount of tax which a business have to pay to the government which has been…

Q: Sammie reported the following for the taxable year 2022. Vatable ending inventory for March is…

A: In Philippines generate Vat tax rate is 12% on goods and services provided in the domestic territory…

Q: At the end of March, account balances are: 190 Def. VAT: 20.000 TL. 191 Ded. VAT: 30.000 TL, 391…

A: VAT:-VAT stands for Value-added tax. It is considered as the consumption tax that is placed on a…

Q: For all payroll calculations, use the following tax rates and round amounts to the nearest cent…

A: Given information is: On December 31,2017, Franklin purchased $13,000 of merchandise inventory on a…

Q: Compute the gross income

A: sales = 336000 assume VAT @12% VAT = 336000*12%/112% = 36000

Q: For all payroll calculations, use the following tax rates and round amounts to the nearest cent…

A:

Q: Kenneth Friedman's weekly gross earnings for the week ending March 9 were $3,840, and her federal…

A: Taxation refers to the imposition of compulsory financial obligations by the government on…

Q: Hillcrest Limited used the standard option to calculate provisional tax the 2018 tax year. The RIT…

A: Provisional Tax Calculation Using Standard Option The tax authority provide facility of the…

Q: A VAT taxpayer had the following sales and purchases during the month: Sales, inclusive of VAT Php…

A: Answer: 5 Sales is VAT-exempt                       Particulars Vat VAT  Amount in Php…

Q: Service Tax is an indirect tax paid by a service receiver to the government on or before 5th day of…

A: Service tax: It is the sales tax charged on the services. The levy of service tax depends upon…

Q: As of Dec. 31, 2016, accrued salaries are $4,000 and accrued labor wages are $9,000. Don't forget…

A: Payroll tax: It is the amount of taxes that are withheld from the salaries of the employees and paid…

Q: Maxwell Friedman's weekly gross earnings for the week ending March 9 were $860, and her federal…

A: Social Security tax = Gross earnings  x Social Security tax rate = $860*6% = $51.60  Medicare tax  =…

Q: es to private 1,680,000 90,00 tities

A: VAT is Value Added Tax charged in the Phillipines @ 12% rate on…

Q: Stan Stately's weekly gross earnings for the week ended April 22 were $2.400. and his federal income…

A: Social Security tax = Gross Pay x Social Security tax rate= $2400*6.00%= $144 Medicare tax  = Gross…

Q: Using the percentage method, what is the amount of Oklahoma income tax withheld under each of these…

A: The amount of income tax withholding under the percentage method is calculated by looking for the…

Q: The company has debit balance of input tax at the beginning of th 6. what is the VAT payable for the…

A:

Q: When filing 2015 federal income taxes as a single filer, you paid 10% on the first $9,225 earned,…

A: Effective tax rate: It implies to the tax charges that is to be paid by a taxpayer for a tax period,…

Q: Penny had income in the first three years of operations as follows: 2010: 400,000 in income, 25%…

A: Lets understand the basics. When person opts to carry back loss then it means that, whatever the…

Q: The table below shows the tax brackets for 2015 for single workers. Taxable Income Tax Rate $0 to…

A: The income tax can be calculated as per the taxable income slab. Given the income, the person is…

Q: 1. A is a non-VAT registered tax payer with a grocery store. The following data are available for…

A: Percentage Tax due: Total sales for the first quarter = 300,000 + 400,000 = 700,000 Vat/Percentage…

Q: What is the average tax rate paid by a single person with a$60,000 adjusted gross income for 2015?

A: Adjusted Gross Income is the term used in the calculation of gross income for all taxable sources…

Q: Using the Tax Schedule for Head of Household, calculate the tax for a head of household with a…

A: Income tax payable is an obligation for the tax payers to the government on the taxable income.…

Q: Kenneth McFarland's weekly gross earnings for the week ending March 9 were $2,170, and her federal…

A: Formula: Net pay = Gross pay - All deductions

Q: When filing 2015 federal income taxes as a single filer, you paid 10% on the first $9,225 earned,…

A:

Q: The taxpayer started operating a grocery store during 2015. He submits the following data:…

A: Given: The tax player includes the grocery store that is operated in 2015 as follows, Merchandise…

Q: Oak Corporation has the following general business credit carryovers: 2016 $7,250 2017 21,750 2018…

A: FIFO is the method of valuation of inventory in which the earliest inventory hold by the…

Q: Kenneth Friedman's weekly gross earnings for the week ending March 9 were $3,840, and her federal…

A: The US government levies taxes such as social security taxes, federal income taxes, and medical…

Q: June 30, 2015, Patya Co. prepaid a 1,000,000 premium on an annual insurance policy. The premium…

A: Deferred tax liability is created when taxable income per books of accounts is higher than the…

Q: Use the 2016 marginal tax rates to compute the income tax owed by the following person. Single male,…

A: Computation:

Q: (Payroll Tax Entries) The payroll of YellowCard Company for September 2016 is as follows.Total…

A: Payroll entries are the entries recorded for the wages and salaries paid by the employer. payroll…

Q: Example 6-4 Borden Company received a federal tax levy on John Kline. Kline is single, claims 2…

A: Take home pay    1,020.00 Less: Exempt amount ( from above table)       486.53 Federal tax…

Q: Arndt, Ic., reported the following for 2018 and 2019 ($ in millions): 2018 2019 $ 995 $1,073 840 $…

A: Solutoin 6: Tax schedule showing reconciliation between pre tax financial income, taxable income,…

Q: A VAT taxpayer had the following sales and purchases during the month: Sales, inclusive of VAT Php…

A: Answer: 7 Regular Customers               Particulars Vat  Amount in Php    Sales Inclusive…

Q: Emanuel Simon earns $1,088 semimonthly, single, 1 w. allowance. Use % method to find total tax.

A: Tax or Taxes: Tax is an amount paid by the persons (individuals and business entities) to a…

Q: John Woods’ weekly gross earnings for the present week were $2,500. Woods has two exemptions. Using…

A: Allowance per exemption = $80. Woods has two exemptions and so the amount of allowance that will be…

Q: 4. In 2011, Canadian federal tax rates were 0% on the first $10,000 of gross income earned, 15% on…

A: Income tax is a direct tax that a government levies on the income of its citizens.

Q: Colin McFarland's weekly gross earnings for the week ending March 9 were $1,850, and her federal…

A: Formula: Social security tax = Gross earnings x Social security tax rate Medicare tax = Gross…

Q: . Federal Tax Withholding The percentage method of withholding for federa income tax (2014) states…

A: