Problem 1

Subject to Percentage Tax

Cash Received 520,000
Accounts Receivable 365,000
Post-Dated Checks 315,000
1,200,000
2%
Percentage Tax 24,000

Subject to VAT
Output Tax 96,000
Creditable Input Tax 28,800
VAT Payable 67,200

Operating Expenses 672,000

1.12
Opex, net of vat 600,000
Input VAT 72,000

NonVat Sales 1,200,000

VAT Sales 800,000 40%
2,000,000

Problem 2

Subject to VAT
Cash Sales 400,000 Gross Receipts 643,000
Credit Card Sales 243,000 OpEx 385,800
643,000 Paid to VAT Txp 308,640
12% 12%
Output Tax 77,160 Input Tax 37,037
Less: Input Tax 37,037
VAT Payable 40,123

Subject to Percentage Tax

Cash Sales 1,360,000
Credit Card Sales 624,200
Total 1,984,200
18%
Percentage Tax 357,156

Problem 3

Subject to Percentage Tax Subject to VAT

Transport of Passeng. 330,000 Transport Cargo 200,000
3% Rentals 50,000
Percentage Tax 9,900 250,000
12%
Output Tax 30,000

Problem 4

Gross Receipts 3,000,000

3%
Percentage Tax 90,000

Problem 5

Gross Receipts 4,000,000

2%
Percentage Tax 80,000

Problem 6

VAT Registered Amount Tax

Sales 200,000 24,000
Purchases 100,000 12,000
Expenses 60,000 7,200 4,800

Non-VAT Registered Amount Tax

Sales 200,000 6,000
Purchases 100,000 12,000
Expenses 60,000 7,200 25,200

Problem 7

Seller Goods
Sales 1,300,000
3%
Percentage Tax 39,000

Seller Services
Sales 1,300,000
Collection from AR 200,000
1,500,000
3%
Percentage Tax 45,000

Problem 8
Owner of the Horse
Horse Winnings Tax
Vice 90,000 9,000
Anne 250,000 25,000
John 60,000 6,000
Angelica 175,000 17,500
57,500

Bettor
Horse Winnings Cost Net Tax
Vice 90,000 40,000 50,000 2,000
Anne 250,000 50,000 200,000 20,000
John 60,000 10,000 50,000 2,000
Angelica 175,000 25,000 150,000 15,000
Percentage Taxes 39,000

Problem 9

IPO Price 25,000,000

1.50
37,500,000
1%
Percentage Tax 375,000

Selling Price 5,000,000

1.50
7,500,000
4%
Percentage Tax 300,000

30,000,000
2
60,000,000
0.5%
Percentage Tax 300,000

5,000,000
2
10,000,000
0.5%
Percentage Tax 50,000