Answered: A VAT-registered business makes a sale…

A VAT-registered business makes a sale of P12,000, inclusive of VAT. The VAT on the sale can be computed as* a. P12,000 x 12% b. P12,000 / 12% c. P12,000 x 12% / 112% d. P12,000 / 12% / 112

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter6: Merchandising Transactions

Section: Chapter Questions

Problem 17Q: A seller sells $800 worth of goods on credit to a customer, with a cost to the seller of $300....

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Question

100%

A VAT-registered business makes a sale of P12,000, inclusive of VAT. The VAT on the sale can be computed as*

a. P12,000 x 12%
b. P12,000 / 12%
c. P12,000 x 12% / 112%
d. P12,000 / 12% / 112%

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