Agnes paid 4,000 to buy a gas cooker from Linda and sold it for 5,000 plus VAT
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Agnes paid £4,000 to buy a gas cooker from Linda and sold it for £5,000 plus VAT to Sally who, in turn, sold it for a VAT inclusive price of £7,050 to Catherine, a customer. Agnes and Sally are VAT registered; while Linda is not. VAT rate is 17.5%. How much VAT would Agnes and Sally have to pay?
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Aysha Ali
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Related Book For 
Financial Accounting An Introduction
ISBN: 9780273737650
2nd Edition
Authors: Mr Barry Elliott, Mr Augustine Benedict
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