If Nueva Ecija is a non-VAT taxpayer, what respectively is the withholding tax and the amount of cash to be paid by Nueva Ecija to the service provider? * 0; 27,440 548.80; 26,891.20 560; 27,440 537.82; 26,353.18 If Nueva Ecija is a VAT taxpayer, what is the deductible expense? * 26,891 27,440 O 28,000

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter12: Current Liabilities
Section: Chapter Questions
Problem 2EA: Consider the following accounts and determine if the account is a current liability, a noncurrent...
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The following case is
applicable to 4 consecutive
questions: Nueva Ecija
Company received a bill for
27,440 from a non-VAT service
provider. The payment for the
service is subject to 2%
creditable withholding tax.
Transcribed Image Text:The following case is applicable to 4 consecutive questions: Nueva Ecija Company received a bill for 27,440 from a non-VAT service provider. The payment for the service is subject to 2% creditable withholding tax.
If Nueva Ecija is a non-VAT
taxpayer, what respectively is
the withholding tax and the
amount of cash to be paid by
Nueva Ecija to the service
provider? *
0; 27,440
548.80; 26,891.20
560; 27,440
537.82; 26,353.18
If Nueva Ecija is a VAT
taxpayer, what is the
deductible expense?
26,891
27,440
28,000
Transcribed Image Text:If Nueva Ecija is a non-VAT taxpayer, what respectively is the withholding tax and the amount of cash to be paid by Nueva Ecija to the service provider? * 0; 27,440 548.80; 26,891.20 560; 27,440 537.82; 26,353.18 If Nueva Ecija is a VAT taxpayer, what is the deductible expense? 26,891 27,440 28,000
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