Multiple Choice – Problems: Part 1 1.

A seller of goods had the following details of sales and collection during the month: Rec

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d collection during the month: Receivables, beginning 200,000 Gross sales 400,000 Less: Collection 500,000 Receivables, end 100,000 Wha
000 Receivables, end 100,000 What is the amount subject to business tax? a. P500,000 b. P400,000 c. P300,000 d. P200,000 2. In the imm
300,000 d. P200,000 2. In the immediately preceding problem, determine the amount subject to business tax if the taxpayer is a seller of s
s tax if the taxpayer is a seller of services. a. P500,000 b. P400,000 c. P300,000 d. P200,000 3. A farm supply dealer made the following sa
pply dealer made the following sales during a month: Fertilizer 45,000 Hybrid corn and rice seeds 65,000 Pesticides 120,000 Water pumps
0 Pesticides 120,000 Water pumps and hand tractors 240,000 Total 470,000 Compute the sales subject to business tax. a. P110,000 b. P12
o business tax. a. P110,000 b. P120,000 c. P230,000 d. P360,000 4. Mang Andrew is a meat vendor. He purchases live hogs from piggery o
purchases live hogs from piggery operations, butchers the hogs, and sells their meat in a public market. In January 2020, Mang Andrew pu
In January 2020, Mang Andrew purchased 12 live hogs for P180,000 from Mang Manso and sold these to customers for
o customers for