R&R construction Limited supplies for April 2024 was: Construction Services $500,000 ( exempt VAT activity) Electrical Services $2,000,000 Surveying Services $300,000 Export Services $700,000 The VAT Rate is 15% Input Tax were as follows: Material for Construction Work - $15,000 Materials for electrical services - $52,500 Material for surveying services -$22,500 Purchase of staff uniform $4,950 The Net VAT Payable $430,050 $250,050 $325,050 $270,000
R&R construction Limited supplies for April 2024 was: Construction Services $500,000 ( exempt VAT activity) Electrical Services $2,000,000 Surveying Services $300,000 Export Services $700,000 The VAT Rate is 15% Input Tax were as follows: Material for Construction Work - $15,000 Materials for electrical services - $52,500 Material for surveying services -$22,500 Purchase of staff uniform $4,950 The Net VAT Payable $430,050 $250,050 $325,050 $270,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
- R&R construction Limited supplies for April 2024 was:
- Construction Services $500,000 ( exempt VAT activity)
- Electrical Services $2,000,000
- Surveying Services $300,000
- Export Services $700,000
The VAT Rate is 15%
Input Tax were as follows:
Material for Construction Work - $15,000
Materials for electrical services - $52,500
Material for surveying services -$22,500
Purchase of staff uniform $4,950
The Net VAT Payable
- $430,050
- $250,050
- $325,050
- $270,000
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