ABC CO. is a VAT registered person who is engoged in selling cooling oil. The following pertains to her transactions (VAT exclusive) for the quarter ending September 30, 2021.How much is the allowed input VAT for the month of July, August and September? JulyAugustSeptemberTotalSales:Regular SalesExport SalesSales to Senior Citizens2,500,000.002,120,000.003,000,000.007,620,000.00200,000.00500,000.00500,000.00480,000.00100,000.003,200,000.001,200,000.00780,000.00100,000.009,700,000.00300,000.00Private Consumption3,000,000.003,500,000.00Purchases:Machine, useful life 61,200,000.00450,000.00years500,000.001,700,000.00Fresh Coconut480,000.00525,000.001,455,000.00Plastic bottles600,000.002,250,000.00640,000.001,120,000.00700,000.001,940,000.001,725,000.005,095,000.00

Name: ABC CO. is a VAT registered person who is engoged in selling cooling o
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Description: ABC CO. is a VAT registered person who is engoged in selling cooling oil. The following pertains to her transactions (VAT exclusive) for the quarter ending September 30, 2021.How much is the allowed input VAT for the month of July, August and Septemb

Assumption:- VAT on purchase of Plastic Bottle -12%, amount provided is purchase is Exclusive of…

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transactions (VAT exclusive) for the quarter ending September 30, 2021. How much is the allowed input VAT for the month of July, August and September?

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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