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    Jeremae Abellanida
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    Calea Refining Company manufactures refined sugar. During the first quarter of 2013, the company had sales of refined sugar net of VAT of P2,000,000. It purchased sugar cane for P500,000 and packaging materials gross of VAT for P784,000 and labels net of VAT for P100,000. The VAT payable by the company was P144,000.

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    Calea Refining Company manufactures refined sugar. During the first quarter of 2013, the company had sales of refined sugar net of VAT of P2,000,000. It purchased sugar cane for P500,000 and packaging materials gross of VAT for P784,000 and labels net of VAT for P100,000. The VAT payable by the company was P144,000.

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    © All Rights Reserved
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    14 views1 page

    Ds

    Uploaded by

    Jeremae Abellanida
    Calea Refining Company manufactures refined sugar. During the first quarter of 2013, the company had sales of refined sugar net of VAT of P2,000,000. It purchased sugar cane for P500,000 and packaging materials gross of VAT for P784,000 and labels net of VAT for P100,000. The VAT payable by the company was P144,000.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    of 1

    Calea Refining Company manufactures refined sugar, It had the following data during the first quarter of

    2013

    Sale of refined sugar (net of Vat)

    Purchases of sugar cane

    Purchases of packaging materials ( gross of Vat)

    Purchases of labels ,net of Vat

    The vat payable is

    A. P 124,000 B. P 112,500 C. P 144,000 D. P62,000

    P 2,000,00

    500,000

    784,000

    100,00

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