[A] Instructions: Compute the VAT Payable (refer to the photo) for the third quarter. (Show solution) A. A VAT registered person had the following transactions during the thirdquarter 2018:467,500112,00055,000330,000506,00093,500a. Cash Purchasesb. Purchases on Accountc. Purchase Returnsd. Cash Salese. Sales on Accountf. Sales Return and AllowancesRequired: Compute the VAT Payable for the third quarter.

Name: [A] Instructions: Compute the VAT Payable (refer to the photo) for the
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Description: [A] Instructions: Compute the VAT Payable (refer to the photo) for the third quarter. (Show solution) A. A VAT registered person had the following transactions during the thirdquarter 2018:467,500112,00055,000330,000506,00093,500a. Cash Purchasesb. P

The current VAT rate in Botswana is 14%. Therefore, the VAT liability will be computed with respect…

Business

Accounting

A. A VAT registered person had the following transactions during the third quarter 2018: a. Cash Purchases b. Purchases on Account c. Purchase Returns d. Cash Sales e. Sales on Account f. Sales Return and Allowances P 467,500 112,000 55,000 330,000 506,000 93,500 Required: Compute the VAT Payable for the third quarter.

A. A VAT registered person had the following transactions during the third quarter 2018: a. Cash Purchases b. Purchases on Account c. Purchase Returns d. Cash Sales e. Sales on Account f. Sales Return and Allowances P 467,500 112,000 55,000 330,000 506,000 93,500 Required: Compute the VAT Payable for the third quarter.

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter10: Accounting For Sales And Cash Receipts

Section: Chapter Questions

Problem 2CE: Prepare journal entries for the following sales and cash receipts transactions. (a) Merchandise is...

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