Sammie reported the following for the taxable year 2022. Vatable ending inventory for March is P240,000, of which the related VAT paid is negligible. 1. How much is the business tax payable for the first quarter? 2. How much is the business tax payable for the third quarter?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Sammie reported the following for the taxable year 2022. Vatable ending inventory for March is P240,000, of which the related VAT paid is negligible.

1. How much is the business tax payable for the first quarter?

2. How much is the business tax payable for the third quarter?

 

Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sales
960,000
920,000 1,150,000
680,000
670,000
860,000
440,000
550,000
580,000
790,000
630,000 1,250,000
Purchases
450,000
250,000
380,000
345,000
405,000
210,000
450,000
470,000
680,000
380,000
410,000
750,000
Please enter a number greater than or equal to 0
Transcribed Image Text:Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Sales 960,000 920,000 1,150,000 680,000 670,000 860,000 440,000 550,000 580,000 790,000 630,000 1,250,000 Purchases 450,000 250,000 380,000 345,000 405,000 210,000 450,000 470,000 680,000 380,000 410,000 750,000 Please enter a number greater than or equal to 0
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