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Name:________________________________ Date:_________________________
Section:_______________________________ VALUE ADDED TAX
VAT payable is
a. P11,100 b. P7,221 c. P3,100 d. P18,100
31. A VAT taxpayer purchased the following machineries for the second quarter of 2019 (vat not included)
Life Cost
April 10 4 years 800,000
April 20 5 years 1,000,000
May 14 3 years 600,000
May 20 2 years 400,000
June 10 3 years 600,000
June 15 6 years 1,200,000
I. The input tax for April is
a. P216,000 b. P4,000 c. P98,000 d. P122,000
II. The input tax for May is
a. P124,000 b. P120,000 c. P8,000 d. P4,000
III. The input tax for june is
a. P4,400 b. P8,400 c. P216,000 d. P146,000
IV. The input tax for the quarter ending June is
a. P126,400 b. P134,400 c. P136,400 d. P12,400
32. The following are the data of City Appliance Marketing Corporation for the last quarter of 2019
Sales up to December 15, total invoice value P336,000
Purchases up to December 15, net of input tax 215,000
Additional information:
On December 16, 2019, City appliance Marketing corporation retired from its business and the inventory valued
at P190,000 was taken and transferred to New City Appliance Corporation. There is a deferred input tax from
the third quarter of P3,500.
How much is the total VAT due and payable by City Appliance Marketing Corporation in its operations in the last
quarter and its retirement from business
a. P22,500 b. P3,500 c. P6,350 d. P29,500
33. Assuming that New City Appliance Corporation has the following data for the first quarter of 2020:
Sales, total invoice value P448, 000
Purchases, total invoice value 224,000
How much is the VAT payable of New City Appliance Corporation for the first quarter of 2020?
a. P28,000 b. P1,200 c. P30,000 d. P24,000
34. ABC, a VAT-registered taxpayer had the following cumulative data for the 1st quarter of 2019 (vat not included):
44. The records of DEF, a building contractor, for April shows (vat not included):
I. Five Storey Building:
a. Contract Price P20,000,000
b. Cash Receipts (for work done):
i. Labor 4,000,000
ii. Materials 6,000,000
II. Four storey building:
a. Contract price 16,000,000
b. Cash receipts (no work done yet):
Advances 2,000,000
III. Cash payments to (for five storey building):
a. Sub-contractors 1,200,000
b. Materials 2,400,000
c. Supplier of equipment (8 years life) 1,000,000
Determine the VAT due for April
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