Case 1

April Vat Payable

a. Transitional Input Vat 40,000
Inventoy 40,000 April
b. Inventory 500000
Input Vat 60000
Cash 560,000
c. Cash 1,344,000
Sales 1,200,000 May
Output Vat 144000

May
a. Inventory 550,000
Cash 550,000
b. Equipment 50,000
Input Vat 6000
Cash 56,000
c. Cash 336,000
Sales 300,000
Output Vat 36,000
d. Cash 26,040
Purchase Returns 23,250
Input Vat 2790
e. Sales Returns 33,000
Output Vat 3960
Cash 36,960
 Posadas, Cendimee P.
BSAc 3C
Accounting Taxation 2
Mr. Al-Jan T. Ebbah

Output Vat 144000

Input Vat 100,000
Vat Payable 44,000

Output Vat 32,040

Input Vat 3210
Vat Payable 28,830
Case 2
1.) 2.)
a. VAT Business Vat Payable
Purchases 50,000 Vat Business
Cash 50,000
Non-VAT Business
Purchases 20,000
Cash 20,000
b. VAT Business
Purchases 80,000
Input Vat 9600
Cash 89,600
Non-VAT Business
Purchases 22,400
Cash 22,400
c. VAT Business
Supplies 19,000
Input Vat 2280
Cash 21,280
Equipment 32,200
Input Vat 3864
Cash 36,064
Non-VAT Business
Supplies 21,280
Cash 21,280
Equipment 36,064
Cash 36,064
d. VAT Business
Cash 336,000
Sales 300,000
Output Vat 36000
Non-VAT Business
Cash 84,000
Sales 84,000
Output Vat 36000
Input Vat 15744
Vat Payable 20256
Case 3

Export Sales 1,848,000 Purchases from Export 422,000

Vat Rate 0% Purchases from Domestic 618,200
Output Vat 0 Purchases From supplies 254,000
Total Purchases 1,294,200
Domestic Sales 1,452,000 Vat Rate 12%
Vat Rate 12% Input Vat 155304
Output Vat 174240

Total Output Vat 174240

Output Vat 174240
Input Vat 155304
Vat Payable 18936
Case 4

1.) Value by BOC 250,000 Other Charges

Insurance 20,000 Bank Charges 4,000
Freight 75,000 Arrastre Fee 5,000
Total Invoice Price 345,000 Wharfage dues 3,600
Custom Duties 75,000 Brokers fee 4,500
Other Charges 17,100 Other charges 17,100
Landed Cost 437,100
Vat Rate 12%
Vat Payable 52452

2.) Invoice Amount 648,000

Output 69428.57

Vat on Importation 52452

Freight 1800
Input Tax 54252

Vat Payable 15176.57

Case 5
higher
Actual Vat Paid 5,000 Sales, Net of Vat 200,000
Vat Rate 12%
Inventory from Non-Vat 60,000 Output Vat 24000
Inventory from Vat 45,000
Value of Inventory 105,000 Purchases, Net of Vat 70,000
Vat Rate 2% Vat Rate 12%
2% Input Value 2100 Input Vat 8400
Transitional Input Vat 5,000
Input Vat 13,400
Output Vat 24000
Input Vat 13,400
Vat Payable 10,600