Sir, for what po yung 112%?? And the reason po ba why we breakdown the price amount to convert it into VAT exclusive, to also get the true cost of product. And the freight cost is also part of VAT charges??
Hi, Sir! I already searched in google but wala po talagang makapag explain what is the journal entry to this. Ano po nag lalagyan ng VAT? yun 84,250 po ba or yung half ng 84,250? Sold merchandise to ESSO Corporation P 84,250, VAT exclusive, 50% down and the balance, terms n/60.
Hi sir! May I ask what if sinabi sa problem na "shipping point, prepaid" and included na sa invoice amount ang shipping fee, need pa ba irecord ni buyer ang transpo. in or included na sya purchase payable amount? TIA
hi po tanong kolang po sa first transaction po (Oct. 3) sa part ni seller bakit po hindi jinournal yung VAT po ? at may VAT po ba ang mga partial payments ? sana po mapansin mo po yung comment ko, thank you po .
Basically, ang VAT ay nag-aapply sa mga "sales" and "purchases' transactions. So sa question mo, if sale yan or purchases, then subject sa VAT yan. Hope it helps 🙂
Magandang araw po, Sir! Magtatanong lang po sana ako regarding VAT po. Yung sa binigay po kasing problem sa amin ay wala pong balance ang VAT payable sa beginning ng period pero meron pong balance ang output and input VAT. Tapos meron pong isang transaction wherein the entity paid VAT to the BIR po. In that case po, need pa po ba mag-dalawang entry po for that date? Yung para po ma-establish po yung VAT payable like: Dr. Output Tax Cr Input Tax VAT Payable And then yung second entry po ay for payment naman? Tama lang po ba, Sir? Hehe. Maraming salamat po!! :)
@@FilipinoAccountingTutorial pwede po ako magpaturo dito? -Vilma reyes opened the vilma music center with merchandise worth 80k and equipment with a current value of. 150k which original value two years ago was 300k. She still owes music. Magic inc. 6k for this electronic equipment which was assumed by the business. Paano ko po ito journal? Anu po ang entry? Nakakalito po kasi yung May depreciated value. Help po. Thanks you sir. :-)
Sana po kung basic, one point of view muna. Nakakalito po kapag point of view ng seller at saka purchasor, tapos may freight pa na kasabay. Nakakalito po
Hello Owesem! Yes, we will surely make separate videos pa naman, for the meantime ito muna ginawa namin to discuss seller and buyer's POV kasi may iba din nagrequest nito. 😊
Patulong naman po. Carmelita Dresses started operations on July 1, 2014 with P200,000.00 from personal savings and P30,000.00 from a bank loan. During the first year of operation, net income was P60,000.00. On December 15, 2014, Carmelita withdrew P8,000.00 cash. No additional activities affected owner’s equity in 2014. By December 31, 2014 financial statements, how much total assets should be reported?
252k ang sagot ko pero hindi ako sure kung tama ba na 30k lang ang dinagdag ko galing sa net income dahil sabi ay 60k ang whole year net income. Pero ang hinihingi ng problem ay dec 31 so bale 6 months lang kaya 30k lang dinagdag ko sa income
Thank you po sir for sharing your knowledge to us . God bless po .
You're welcome Renz. Mag aral nang mabuti 💛
Another helpful video. Thankyou Sir!
You're welcome Lanavette ❤️
@@FilipinoAccountingTutorial Very informative video, thanks sir.
Maraming Salamat po sa videos niu, Napakalaking tulong! Question ko lang po sana
How to compute the balance of trade receivables?
Thanks po waiting po Sa next topic, dami kopong learn
You're welcome Joel. We'll upload the kasunod nito malapit na 💛
Hope u make videos on financial management too :) incoming 2nd yr accounting major here!
Thank you po. Nakakatulong po ito sa akin
You're welcome Lulu. Masaya kami na nakakatulong 💛
Thank youuu, sana maupload na yun part 2, badly needed kasi may exam na kami sa Thursday 😂
You're welcome Etta. Goodluck sa exam. Upload namin part 2 nito malapit na ❤️
@@FilipinoAccountingTutorial thank youuu 😂
Sir, for what po yung 112%?? And the reason po ba why we breakdown the price amount to convert it into VAT exclusive, to also get the true cost of product. And the freight cost is also part of VAT charges??
Thank you sir.
You're welcome. Mag aral nang mabuti 🙂
Good day po. Just want to ask, when recording VAT po in the Worksheet, do they belong in the income statement?
Hi, Sir! I already searched in google but wala po talagang makapag explain what is the journal entry to this. Ano po nag lalagyan ng VAT? yun 84,250 po ba or yung half ng 84,250?
Sold merchandise to ESSO Corporation P 84,250, VAT exclusive, 50% down and the balance, terms n/60.
sino po best author for business taxation?
Good day sir. Ask ko lang po kung paano mag record ng transactions using columnar form?
meron po ba kayong sample ng non vat tapos po na issuehan ng EWT ? Paano po ang recording sa books po?
Debit expense or any appropriate accounr
Credit EWT payable
Credit Cash
Hope it helps! Donita 🙂
Hi sir! May I ask what if sinabi sa problem na "shipping point, prepaid" and included na sa invoice amount ang shipping fee, need pa ba irecord ni buyer ang transpo. in or included na sya purchase payable amount? TIA
hi po tanong kolang po sa first transaction po (Oct. 3) sa part ni seller bakit po hindi jinournal yung VAT po ? at may VAT po ba ang mga partial payments ? sana po mapansin mo po yung comment ko, thank you po .
Yung inventory po ba sa cashflow statement are subject to vat tax po ba?
Basically, ang VAT ay nag-aapply sa mga "sales" and "purchases' transactions. So sa question mo, if sale yan or purchases, then subject sa VAT yan. Hope it helps 🙂
Thank you po last question pag nag bawas kana po ba ng vat sa sales need pa po ba bawasan ng vat yung inventory po?
hi sir what will be the entries po if VAT EXEMPT po un Customer pero ang company ko po is Vat register? sa system rn namin si Gross siya
hello jesica. the usual entry lang ng sale ng VAT registered business. Debit Cash/Accts Receivable Credit Output VAT and Sales. Hope it helps.
Kapag po ba vat inclusive ibig sabihin hindi pa po kasama yung vat sa total sales po, and vat exclusive po, included na?
Baliktad po ata, inclusive kasama na, exclusive hindi pa
Magandang araw po, Sir! Magtatanong lang po sana ako regarding VAT po. Yung sa binigay po kasing problem sa amin ay wala pong balance ang VAT payable sa beginning ng period pero meron pong balance ang output and input VAT. Tapos meron pong isang transaction wherein the entity paid VAT to the BIR po.
In that case po, need pa po ba mag-dalawang entry po for that date? Yung para po ma-establish po yung VAT payable like:
Dr. Output Tax
Cr Input Tax
VAT Payable
And then yung second entry po ay for payment naman? Tama lang po ba, Sir? Hehe. Maraming salamat po!! :)
More please
Yes marami pa Lulu ❤️
@@FilipinoAccountingTutorial pwede po ako magpaturo dito?
-Vilma reyes opened the vilma music center with merchandise worth 80k and equipment with a current value of. 150k which original value two years ago was 300k. She still owes music. Magic inc. 6k for this electronic equipment which was assumed by the business.
Paano ko po ito journal? Anu po ang entry? Nakakalito po kasi yung May depreciated value. Help po. Thanks you sir. :-)
12 percent vat included on all purchases
Sana po kung basic, one point of view muna. Nakakalito po kapag point of view ng seller at saka purchasor, tapos may freight pa na kasabay. Nakakalito po
Hello Owesem! Yes, we will surely make separate videos pa naman, for the meantime ito muna ginawa namin to discuss seller and buyer's POV kasi may iba din nagrequest nito. 😊
Patulong naman po. Carmelita Dresses started operations on July 1, 2014 with P200,000.00 from personal savings and P30,000.00 from a bank loan. During the first year of operation, net income was P60,000.00. On December 15, 2014, Carmelita withdrew P8,000.00 cash. No additional activities affected owner’s equity in 2014. By December 31, 2014 financial statements, how much total assets should be reported?
252k ang sagot ko pero hindi ako sure kung tama ba na 30k lang ang dinagdag ko galing sa net income dahil sabi ay 60k ang whole year net income. Pero ang hinihingi ng problem ay dec 31 so bale 6 months lang kaya 30k lang dinagdag ko sa income
@@johnventura3403 tama po
@@chengcheng8185 sure po? Hahahahah sabi kasi nung isa kong tinanungan baka mali dahil di raw pantay ang sagot ko sa given. Dahil sa given 60k