Kk.341. The following information has been provided to youfrom the books of Beril Traders: Assume all amounts are15% VAT inclusive. Sales R115 000 Purchases R86 250Telephone R1 150 Advertising R920 Sales returns R6 900Purchases returns R3 450 Required: Using theinformation provided above calculate the VAT payable orrefundable. Clearly indicate whether the amount ispayable or refundable.

Vat refers to value added tax, which means tax is to be paid to the government at every addition to…

The following information has been provided to you from the books of Beril Traders: Assume all amounts are 15% VAT inclusive. Sales R115 000 Purchases R86 250 Telephone R1 150 Advertising R920 Sales returns R6 90C Purchases returns R3 450 Required: Using the information provided above calculate the VAT payable or refundable. Clearly indicate whether the amount is payable or refundable.

The following information has been provided to you from the books of Beril Traders: Assume all amounts are 15% VAT inclusive. Sales R115 000 Purchases R86 250 Telephone R1 150 Advertising R920 Sales returns R6 90C Purchases returns R3 450 Required: Using the information provided above calculate the VAT payable or refundable. Clearly indicate whether the amount is payable or refundable.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter6: Merchandising Transactions

Section: Chapter Questions

Problem 17Q: A seller sells $800 worth of goods on credit to a customer, with a cost to the seller of $300....

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