TAX 2 : VALUE ADDED TAX

BIR FORMS 2550M AND 2550Q

CEDTONJOY DISTRIBUTOR, INC. (TIN 234-789-143-000), located at C. Padilla St., Cebu City, which is
under the jurisdiction of RDO 082, Cebu City South. The companys telephone number is 260-7900.

The Company had the following transactions, net of any VAT for the taxable year 2016:

FIRST QUARTER ENDING MARCH 31, 2016

Transaction January February March

Regular Sales 9,000,000.00 8,500,000.00 10,000,000.00
Government Sales 600,000.00 500,000.00 800,000.00
Export Sales 1,000,000.00 900,000.00 1,300,000.00
Exempt Sales 400,000.00 350,000.00 390,000.00
Input tax from previous
period 50,000.00 - -
Purchase of Goods
(attributable to 12%
Vatable Sales only) 7,300,000.00 7,700,000.00 8,300,000.00

Purchase of Goods
(attributable to Zero-
Rated Sales) 700,000.00 660,000.00 590,000.00

Purchase of Goods
(attributable to Exempt
Sales) 310,000.00 190,000.00 300,000.00

Purchase of Services
(attributable to 12%
Vatable sales and zero-
rated sales) 150,000.00 300,000.00 200,000.00

Purchase of Goods
(attributable to
government sales)
340,000.00 300,000.00 340,000.00

Purchases from NON-

VAT Suppliers 400,000.00 380,000.00 300,000.00
SECOND QUARTER ENDING JUNE 30, 2016

Transaction April May June

Regular Sales 11,000,000.00 9,000,000.00 12,000,000.00
Government Sales 500,000.00 900,000.00 700,000.00
Export Sales 500,000.00 900,000.00 800,000.00
Exempt Sales 500,000.00 450,000.00 400,000.00
Input tax from previous
period - - -
Purchase of Goods
(attributable to 12%
Vatable Sales only) 8,900,000.00 11,500,000.00 12,600,000.00
Purchase of Goods
(attributable to Zero-
Rated Sales) 1,000,000.00 600,000.00 500,000.00
Purchase of Goods
(attributable to Exempt
Sales) 450,000.00 380,000.00 350,000.00
Purchase of Services
(attributable to 12%
Vatable sales and zero-
rated sales) 300,000.00 400,000.00 200,000.00
Purchase of Goods
(attributable to
government sales)
280,000.00 220,000.00 360,000.00
Purchases from NON-
VAT Suppliers 600,000.00 500,000.00 900,000.00

THIRD QUARTER ENDING SEPTEMBER 30, 2016

Transaction July August September

Regular Sales 8,000,000.00 7,000,000.00 10,000,000.00
Government Sales 800,000.00 600,000.00 500,000.00
Export Sales 1,000,000.00 800,000.00 800,000.00
Exempt Sales 550,000.00 450,000.00 500,000.00
Input tax from previous
period - - -
Purchase of Goods
(attributable to 12%
Vatable Sales only) 9,400,000.00 8,600,000.00 7,400,000.00
Purchase of Goods
(attributable to Zero-
Rated Sales) 2,000,000.00 500,000.00 440,000.00
Purchase of Goods
(attributable to Exempt
Sales) 500,000.00 500,000.00 590,000.00
Purchase of Services
(attributable to 12%
Vatable sales and zero-
rated sales) 300,000.00 200,000.00 350,000.00
Purchase of Goods
(attributable to
government sales)
800,000.00 570,000.00 420,000.00
Purchases from NON-
VAT Suppliers 400,000.00 300,000.00 400,000.00

FOURTH QUARTER ENDING DECEMBER 31, 2016

Transaction October November December

Regular Sales 8,000,000.00 7,000,000.00 16,000,000.00
Government Sales 1,000,000.00 600,000.00 800,000.00
Export Sales 700,000.00 800,000.00 700,000.00
Exempt Sales 580,000.00 670,000.00 1,050,000.00
Input tax from previous
period - - -
Purchase of Goods
(attributable to 12%
Vatable Sales only) 6,100,000.00 5,500,000.00 12,400,000.00
Purchase of Goods
(attributable to Zero-
Rated Sales) 500,000.00 500,000.00 520,000.00
Purchase of Goods
(attributable to Exempt
Sales) 300,000.00 580,000.00 870,000.00
Purchase of Services
(attributable to 12%
Vatable sales and zero-
rated sales) 600,000.00 550,000.00 750,000.00
Purchase of Goods
(attributable to
government sales)
850,000.00 870,000.00 850,000.00
Purchases from NON-
VAT Suppliers 400,000.00 470,000.00 850,000.00

REQUIRED:

a. PREPARE THE APPROPRIATE VAT FORMS FOR JANUARY UNTIL DECEMBER.

CREDITS TO SIR CEDRIC NARANJO FOR THIS OUTPUT