Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. sayon company renders repair services to its custo

Sayon Company renders repair services to its customers.During the month, the company had the following...

90.2K

Verified Solution

Question

Accounting

Sayon Company renders repair services to its customers.


During the month, the company had the following customers:
Customer A was billed 25,000, VAT-exclusive, and the entire bill was paid during the month.
Customer B was billed 28,000, VAT-inclusive, and the entire bill was paid during the month.
Customer C was billed 33,600, VAT-inclusive, and the entire bill was still unpaid at month end.
Customer D, made a down payment of 23,520, VAT-inclusive, for a service to be rendered by
Sayon next month.


During the month, Sayon Company bought supplies from a non-VAT supplier to be used in his

repair services. The supplies amounted to 29,120.


Compute for:
a. Percentage tax
b. Output tax
c. Input tax
d. VAT payable

.

Assuming the supplier of Sayon is VAT-registered, compute for:
e. Percentage tax
f. Output tax
g. Input tax
h. VAT payable

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students