Mr. Alejandro Sison is marketing goods and he is subject to the 1% Percentage Tax. He registered his business with the government registry offices and registered his books of accounts and official invoices/receipts with the Bureau of Internal Revenue as a non-VAT taxpayer. His business name is Sison Merchandising Transactions in January 20A were: January 2 Invested P4,000,000 in the business. Purchased goods from a non-VAT supplier for P400,000. 3 Purchased goods from a VAT supplier for P600,000 plus VAT of P72,000. 10 Sale for cash of P500,000. 15 Purchase of office equipment with a useful life of two years from a VAT taxpayer for P800,000, plus VAT of P96,000. 25 Operating expenses of P400,000 were paid to non-VAT tax- рayers. 30 Operating expenses of P10,000 plus value-added tax of P1,200 were paid to VAT taxpayers. Additional information: Inventory at the end of the month was P500,000. Required: Preparation of the Trial Balance of January 20A
Mr. Alejandro Sison is marketing goods and he is subject to the 1% Percentage Tax. He registered his business with the government registry offices and registered his books of accounts and official invoices/receipts with the Bureau of Internal Revenue as a non-VAT taxpayer. His business name is Sison Merchandising
Transactions in January 20A were: January 2 Invested P4,000,000 in the business. Purchased goods from a non-VAT supplier for P400,000. 3 Purchased goods from a VAT supplier for P600,000 plus VAT of P72,000. 10 Sale for cash of P500,000. 15 Purchase of office equipment with a useful life of two years from a VAT taxpayer for P800,000, plus VAT of P96,000. 25 Operating expenses of P400,000 were paid to non-VAT tax- рayers. 30 Operating expenses of P10,000 plus value-added tax of P1,200 were paid to VAT taxpayers. Additional information: Inventory at the end of the month was P500,000.
Required: Preparation of the
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