From the following day book extracts, construct a VAT account for the month of April 2006. Additional

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From the following day book extracts, construct a VAT account for the month of April 2006.image text in transcribed

Additional information:
(i) VAT owing as at 1 April 2006 was £220.73.
(ii) Cash sales inclusive of VAT for April totalled £870.
(iii) Petty cash expenses incurred in April totalled £342 inclusive of VAT (which can be reclaimed).
(iv) Fixed assets were purchased during April which includes VAT of £450 which could be reclaimed.
(v) VAT paid on April 18 totalled £299.

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Frank Woods Business Accounting Basics

ISBN: 9780273725008

1st Edition

Authors: Frank Wood, Mr David Horner

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