Answer Key
Answer Key
Answer Key
Soar Din company, a VAT registered manufacturer of canned goods, have the following information in their financial statemen
Sale of canned sardines 2,000,000.00
Sale of canned mackerel 2,100,000.00
Sale of canned bread 1,800,000.00
Purchases of Tin cans from VAT entity 2,050,000.00
Purchases of Tin cans from Non VAT entity 1,990,000.00
Purchases of Fresh Sardines 700,000.00
Purchases of Fresh Mackerel 900,000.00
Purchases of Bread 630,000.00
Purchases of Fresh tomato 710,000.00
Purchases of Olive oil 490,000.00
Suki corp, a VAT registered convenience store, have the following information on their financial statement for the period.
Q1 Q2 Q3 Q4 Total
VATable sales 800,000 900,000 950,000 700,000 3,350,000
VAT exempt Sales 300,000 765,000 120,000 340,000 1,525,000
VATable Purchases 400,000 370,000 490,000 240,000 1,500,000
VAT exempt Purchases 180,000 140,000 210,000 130,000 660,000
Non VAT Purchases 150,000 130,000 145,000 120,000 545,000
Bilina corp, a Non VAT registered convenience store, have the following information on their financial statement for the period
Q1 Q2 Q3 Q4 Total
VATable sales 800,000 900,000 950,000 700,000 3,350,000
VAT exempt Sales 300,000 765,000 120,000 340,000 1,525,000
VATable Purchases 400,000 370,000 490,000 240,000 1,500,000
Non VAT Purchases 150,000 130,000 145,000 120,000 545,000
Ordinary Deductions -
Special Deductions
Family Home (6,000,000.00)
Standard Deductions (5,000,000.00)
RA 4917 -
Estate After Deductions 24,000,000.00
Share of Surviving Spouse 12,900,000.00
Net Taxable Estate 11,100,000.00
Estate Tax rate 6%
Estate Tax due 666,000.00
Ordinary Deductions -
Special Deductions
Family Home (6,000,000.00)
Standard Deductions (5,000,000.00)
RA 4917 -
Estate After Deductions 24,000,000.00
Share of Surviving Spouse 16,500,000.00
Net Taxable Estate 7,500,000.00
Estate Tax rate 6%
Estate Tax due 450,000.00
The following are the properties and expenses of Mr. and Mrs. White when
one of the spouses died
B
D
B
D
B
C
their financial statements the year 2024:
ment for the period.