company, had the following receipts in January 2022: Receipts from passengers, P2,700,000 Receipts from cargoes, P300,000 Input VAT on gasoline, P50,000 Input VAT on bus insurance and repairs, P30,000 Input VAT on purchase of a new bus, P360,000 Assuming that the useful life of the bus is 5 years, how much is the VAT payable for January? P30,000 P274,000 P27,400 P0

company, had the following receipts in January 2022: Receipts from passengers, P2,700,000 Receipts from cargoes, P300,000 Input VAT on gasoline, P50,000 Input VAT on bus insurance and repairs, P30,000 Input VAT on purchase of a new bus, P360,000 Assuming that the useful life of the bus is 5 years, how much is the VAT payable for January? P30,000 P274,000 P27,400 P0

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter5: Introduction To Business Expenses

Section: Chapter Questions

Problem 63P

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