Bradleigh Paynes books show the following information for February 2005: VAT on sales for the month
Question:
Bradleigh Payne’s books show the following information for February 2005:
● VAT on sales for the month was £867.54.
● VAT on returns inwards was £12.54.
● VAT on purchases for the month was £342.54.
● Cash expenses paid during the month totalled £108.45 which included reclaimable VAT at 17.5%.
Calculate the amount of VAT due for the month of February 2005.
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Related Book For
Frank Woods Business Accounting Basics
ISBN: 9780273725008
1st Edition
Authors: Frank Wood, Mr David Horner
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