question archive The company has the following information for the 1st quarter of its operation during the taxable year 2021: Description January February March Current Sales Vatable Sales/Receipts 5,500,000 10,100,000 10,700,00 Zero-Rated Sales/Receipts 1,500,000 1,600,000 1,800,000 Exempt Sales/Receipts 750,000 760,000 850,000 Excess Input Tax from Previous Quarter (Last December 2020) 450,000 - - Previous Purchase Deferred Input Tax, Beginning 1,200,000 1,000,000 800,000 Deferred Input Tax, Ending 1,000,000 800,000 600,000 Current Purchase Domestic Purchase of Goods (Not Capital) 3,500,000 2,500,000 3,600,000 Importation of Goods (Not Capital) 550,000 330,000 520,000 Domestic Purchase of Services 700,000 520,000 780,000 Services Rendered by Non-Residents (VAT Withheld using BIR Form 1600) 300,000 260,000 370,000 Purchases Not Qualified for Input Tax 3,500,000 4,000,000 5,000,000 Using BIR Form No
The company has the following information for the 1st quarter of its operation during the taxable year 2021: Description January February March Current Sales Vatable Sales/Receipts 5,500,000 10,100,000 10,700,00 Zero-Rated Sales/Receipts 1,500,000 1,600,000 1,800,000 Exempt Sales/Receipts 750,000 760,000 850,000 Excess Input Tax from Previous Quarter (Last December 2020) 450,000 - - Previous Purchase Deferred Input Tax, Beginning 1,200,000 1,000,000 800,000 Deferred Input Tax, Ending 1,000,000 800,000 600,000 Current Purchase Domestic Purchase of Goods (Not Capital) 3,500,000 2,500,000 3,600,000 Importation of Goods (Not Capital) 550,000 330,000 520,000 Domestic Purchase of Services 700,000 520,000 780,000 Services Rendered by Non-Residents (VAT Withheld using BIR Form 1600) 300,000 260,000 370,000 Purchases Not Qualified for Input Tax 3,500,000 4,000,000 5,000,000 Using BIR Form No
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The company has the following information for the 1st quarter of its operation during the taxable year 2021:
| Description | January | February | March |
| Current Sales | |||
| Vatable Sales/Receipts | 5,500,000 | 10,100,000 | 10,700,00 |
| Zero-Rated Sales/Receipts | 1,500,000 | 1,600,000 | 1,800,000 |
| Exempt Sales/Receipts | 750,000 | 760,000 | 850,000 |
| Excess Input Tax from Previous Quarter (Last December 2020) | 450,000 | - | - |
| Previous Purchase | |||
| Deferred Input Tax, Beginning | 1,200,000 | 1,000,000 | 800,000 |
| Deferred Input Tax, Ending | 1,000,000 | 800,000 | 600,000 |
| Current Purchase | |||
| Domestic Purchase of Goods (Not Capital) | 3,500,000 | 2,500,000 | 3,600,000 |
| Importation of Goods (Not Capital) | 550,000 | 330,000 | 520,000 |
| Domestic Purchase of Services | 700,000 | 520,000 | 780,000 |
| Services Rendered by Non-Residents (VAT Withheld using BIR Form 1600) | 300,000 | 260,000 | 370,000 |
| Purchases Not Qualified for Input Tax | 3,500,000 | 4,000,000 | 5,000,000 |
Using BIR Form No. 2550Q, what information should be indicated in Part II - Line Item 15A for the 1st Quarter?
a. P10,700,000
b. P3,156,000
c. P26,300,000
d. P1,284,000
Using BIR Form No. 2550Q, what information should be indicated in Part II - Line Item 19B for the 1st Quarter?
a. P29,110,000
b. P13,350,000
c. P3,156,000
d. P1,284,000
Using BIR Form No. 2550Q, what information should be indicated in Part II - Line Item 20A for the 1st Quarter?
a. P17,200
b. P596,000
c. P450,000
d. - P17,200
Using BIR Form No. 2550Q, what information should be indicated in Part II - Line Item 20B for the 1st Quarter?
a. P800,000
b. P1,200,000
c. P1,000,000
d. P200,000
Using BIR Form No. 2550Q, what information should be indicated in Part II - Line Item 29 for the 1st Quarter?
a. P433,200
b. - P433,200
c. P429,800
d. P434,400
Using BIR Form No. 2550Q, what information should be indicated in Line Item 2?
a. 4th
b. 2nd
c. 3rd
d. 1st
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