Quarterly payments: 1st quarter Php 250,000.00 Php 50,000.00 Php 300,000.00 2nd quarter Php 250,000.00 Php 50,000.00 Php 300,000.00 3rd quarter Php 250,000.00 Php 50,000.00 Php 300,000.00 4th quarter Php 250,000.00 Php 50,000.00 Php 300,000.00 Question: How much is the VAT imposable for Client 1? 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. DO NOT INDICATE ANY NEGATIVE SIGN.
Quarterly payments: 1st quarter Php 250,000.00 Php 50,000.00 Php 300,000.00 2nd quarter Php 250,000.00 Php 50,000.00 Php 300,000.00 3rd quarter Php 250,000.00 Php 50,000.00 Php 300,000.00 4th quarter Php 250,000.00 Php 50,000.00 Php 300,000.00 Question: How much is the VAT imposable for Client 1? 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. DO NOT INDICATE ANY NEGATIVE SIGN.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Transcribed Image Text:Quarterly payments:
1st quarter
Php 250,000.00 Php 50,000.00
Php 300,000.00
2nd quarter
Php 250,000.00 Php 50,000.00
Php 300,000.00
3rd quarter
Php 250,000.00
Php 50,000.00
Php 300,000.00
4th quarter
Php 250,000.00 Php 50,000.00
Php 300,000.00
Question: How much is the VAT imposable for Client 1?
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. DO NOT INDICATE ANY NEGATIVE SIGN.
360000
Transcribed Image Text:10 Minute
ABC Corp., a VAT-registered subdivision developer, disclosed the following sales
information for the year 2018:
Client 1
Client 2
Client 3
Type of purchase
House and lot
House and lot
Lots 1 and 2
Total contract price Php 5 Million
Php 5 Million
Php 1.5 Million
Terms of contract:
20% downpayment Php 1.000,000.00 Php 1,000,000.00 Php 300,000.00
Quarterly payments:
Phn 250.000.00 Php 50,000.00
Php 300,000.00
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