A VAT-registered traders credit purchases and sales, without including VAT, were 380,000 and 420,000 respectively. VAT rate

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A VAT-registered trader’s credit purchases and sales, without including VAT, were £380,000 and £420,000 respectively. VAT rate applicable is 17.5%. £4,800 was paid as VAT. Set out

(a) How these transactions will appear on a Trial Balance and

(b) The HM Revenue and Customs account.

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Financial Accounting An Introduction

ISBN: 9780273737650

2nd Edition

Authors: Mr Barry Elliott, Mr Augustine Benedict

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Question Posted: Aug 31, 2023 02:26 AM

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A VAT-registered traders credit purchases and sales, without including VAT, were 380,000 and 420,000 respectively. VAT rate

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Trial Balance as at xxxx 380000 Purchases Sale...View the full answer

Financial Accounting An Introduction

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