Goods costing 6,815 (inclusive of VAT) removed by a sole trader for personal use should be accounted

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Goods costing £6,815 (inclusive of VAT) removed by a sole trader for personal use should be accounted for as:

(a) Debit Drawings account and credit Purchases account £6,815

(b) Debit Drawings account and credit Purchases account £5,800

(d) Debit Drawings account £6,815, credit Trading account £5,800, credit VAT account £1,015

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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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Goods costing 6,815 (inclusive of VAT) removed by a sole trader for personal use should be accounted

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d Debit Drawings ...View the full answer

Financial Accounting An Introduction

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