lsarog is a common carrier. with passenger buses and cargo trucks. For the month of June 2018, it had the following data on gross revenues and receipts (exclusive of taxes): For transporting passengers (receipts) P660,000 For transporting cargoes (revenues). 440,000 Actual receipts amounted only to P400, 000. For renting out to the MMDA its towing trucks (receipts) 100,000 P20,000 represents revenue from the first quarter and the balance
lsarog is a common carrier. with passenger buses and cargo trucks. For the month of June 2018, it had the following data on gross revenues and receipts (exclusive of taxes): For transporting passengers (receipts) P660,000 For transporting cargoes (revenues). 440,000 Actual receipts amounted only to P400, 000. For renting out to the MMDA its towing trucks (receipts) 100,000 P20,000 represents revenue from the first quarter and the balance
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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lsarog is a common carrier. with passenger buses and cargo trucks. For the month of June 2018, it had the following data on gross revenues and receipts (exclusive of taxes):
For transporting passengers (receipts) P660,000
For transporting cargoes (revenues). 440,000
Actual receipts amounted only to P400, 000.
For renting out to the MMDA its towing trucks (receipts) 100,000
P20,000 represents revenue from the first quarter
and the balance of P80, 000 represents receipts
from income earned in June.
For transporting passengers (receipts) P660,000
For transporting cargoes (revenues). 440,000
Actual receipts amounted only to P400, 000.
For renting out to the MMDA its towing trucks (receipts) 100,000
P20,000 represents revenue from the first quarter
and the balance of P80, 000 represents receipts
from income earned in June.
The output vat is:
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