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Milk Brand

This document contains 18 multiple choice questions regarding the calculation of output VAT, input VAT, franchise tax, common carrier tax, and amusement tax for various companies and individuals. The correct answers are provided for each question.

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Josephine Mercado
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35 views

Milk Brand

This document contains 18 multiple choice questions regarding the calculation of output VAT, input VAT, franchise tax, common carrier tax, and amusement tax for various companies and individuals. The correct answers are provided for each question.

Uploaded by

Josephine Mercado
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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1. (Milk brand), How much is the output VAT for the taxable quarter?

a. 9,600,000
b. 5,760,000
c. 14,400,000
d. 15,600,000
2. (Smart solu), How much is the output VAT?
a. 6,320,640
b. 6,584,400
c. 6,297,600
d. 6,450,000
3. (Green residences), How much is Green Residences’ output VAT?
a. 1,785,600
b. 480,000
c. 1,180,800
d. 576,000
4. Assuming that Green residences sold the parcel of land where the apartment sits for a
consideration of 1,900,000 how much is the output VAT for the sale of lot?
a. 264,000
b. 228,000
c. 0
d. 240,000
5. (James), How much is the input vat?
a. 265,800
b. 437,040
c. 414,360
d. 371,400
6. If James is a non-VAT registered taxpayer, how much can be claimed as input VAT?
a. 414,360
b. 265,800
c. 437,040
d. 0
7. (Lakbayan company), How much is the common carrier’s tax dues?
a. 71,760
b. 0
c. 37,650
d. 65,250
8. How much is output VAT?
a. 261,000
b. 397,440
c. 99,360
d. 0
9. (fighting for a boxing life), Compute for the amusement tax due assuming the boxing
match is for the Philippine Bantamweight Belt.
a. 4,320,000
b. 1,600,000
c. 2,400,000
d. 0
10. Compute for the amusement tax due assuming the boxing the match is for the World
Flyweight Belt, and Bottom Rank, Inc. is 50% owned by Filipinos.
a. 1,600,000
b. 0
c. 4,320,000
d. 2,400,000
11. Compute for the amusement tax due assuming the boxing match is for the World
Flyweight Belt, and Bottom Rank, Inc., is 60% owned by Filipinos.
a. 2,400,000
b. 1,600,000
c. 4,320,000
d. 0
12. (interpretative company), How much is the output VAT to be recognized on January 1,
2021?
a. 1,200,000
b. 480,000
c. 2,400,000
d. 0
13. How much is the output VAT to be recognized on January 1, 2022?
a. 480,000
b. 2,400,000
c. 1,200,000
d. 0
14. Assuming Interpretativa Company is a real estate dealer, how much is the output VAT to
be recognized on January 1, 2021?
a. 2,400,000
b. 480,000
c. 0
d. 960,000
15. (BACS), Compute the output VAT of BACS
a. 1,582,800
b. 688,800
c. 0
d. 894,000
16. If BACS is a non-stock, non-profit educational institution, how much is BACS’ output
VAT?
a. 1,582,800
b. 688,800
c. 894,000
d. 0
17. (Radio balita Company), How much is franchise tax in 2020?
a. 90,000
b. 0
c. 135,000
d. 225,000
18. How much is franchise tax in 2021?
a. 525,000
b. 315,000
c. 0
d. 210,000

1. D 11. D
2. A 12. C
3. D 13. D
4. A 14. A
5. C 15. D
6. D 16. D
7. C 17. C
8. B 18. C
9. C
10. D

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