PT Manufaktur Indonesia is a company engaged in the furniture sector. The 2019 financial statements...
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PT Manufaktur Indonesia is a company engaged in the furniture sector. The 2019 financial statements show a balance of prepaid taxes - Value Added Tax of IDR 10,000,000. In January 2020, PT Manufaktur Indonesia made sales of Rp. 700,000,000, and purchases of Rp. 800,000,000. All sales and purchases are subject to value added tax (10%).
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What is the prepaid tax amount and how to journal sales and purchases?
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