If VAT payable at beginning of the month was 22,800, and during the month purchases and sales

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If VAT payable at beginning of the month was £22,800, and during the month purchases and sales at VAT-inclusive prices were £92,120 and £128,968 respectively, the balance in the VAT account by the end of the month would be:

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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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If VAT payable at beginning of the month was 22,800, and during the month purchases and sales

Question:

a £28,288 credit b £28,288 debit c £17,312 credit d £17,312 debit

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a ...View the full answer

Financial Accounting An Introduction

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