From the following day book extracts, construct a VAT account for the month of July 2007. Net
Question:
From the following day book extracts, construct a VAT account for the month of July 2007.
Transcribed Image Text:
Net figures (before addition of VAT) for July 2007 Sales for month Purchases for month Returns inwards for month Returns outwards for month 1,750 1,125 230 178
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 0% (1 review)
2007 Jul 31 VAT ...View the full answer
Answered By
Somshukla Chakraborty
I have a teaching experience of more than 4 years by now in diverse subjects like History,Geography,Political Science,Sociology,Business Enterprise,Economics,Environmental Management etc.I teach students from classes 9-12 and undergraduate students.I boards I handle are IB,IGCSE, state boards,ICSE, CBSE.I am passionate about teaching.Full satisfaction of the students is my main goal.
I have completed my graduation and master's in history from Jadavpur University Kolkata,India in 2012 and I have completed my B.Ed from the same University in 2013. I have taught in a reputed school of Kolkata (subjects-History,Geography,Civics,Political Science) from 2014-2016.I worked as a guest lecturer of history in a college of Kolkata for 2 years teaching students of 1st ,2nd and 3rd year. I taught Ancient and Modern Indian history there.I have taught in another school in Mohali,Punjab teaching students from classes 9-12.Presently I am working as an online tutor with concept tutors,Bangalore,India(Carve Niche Pvt.Ltd.) for the last 1year and also have been appointed as an online history tutor by Course Hero(California,U.S) and Vidyalai.com(Chennai,India).
4.00+
2+ Reviews
10+ Question Solved
Related Book For
Frank Woods Business Accounting Basics
ISBN: 9780273725008
1st Edition
Authors: Frank Wood, Mr David Horner
Question Posted:
Students also viewed these Business questions
-
From the following day book extracts, construct a VAT account for the month of June 2007. Additional information: (i) Cash sales inclusive of VAT for June totalled 985. (ii) Fixed assets were...
-
From the following day book extracts, construct a VAT account for the month of April 2006. Additional information: (i) VAT owing as at 1 April 2006 was 220.73. (ii) Cash sales inclusive of VAT for...
-
From the following day book extracts, construct a VAT account for the month of March 2005. Additional information: (i) VAT owing as at 1 March 2005 was 320. (ii) Cash sales inclusive of VAT for March...
-
How many orders of magnitude is 3 . 2 \ times 1 0 - 9 m smaller than 0 . 0 0 0 0 4 m ?
-
What is meant by foreign exchange risk? How can foreign exchange risks be covered in the spot, forward, futures, or options markets? Why does hedging not usually take place in the spot market?
-
We showed that one of the most often used forms of Fick's Law for multi-component systems could be written as: \[\overrightarrow{\mathbf{J}}_{i}=-\underbrace{D_{i j o}\left(1+\frac{\partial \ln...
-
Summarize the race system of Brazil and compare it to that of the United States.
-
The comparative statements of Larker Tool Company are presented below. All sales were on account. Instructions Compute the following ratios for 2014. (Weighted-average common shares in 2014 were...
-
Normalize the given ERD diagram This is my attempt. I would like to know if it is correct and if not for it to be corrected. PROFESSOR PK PROF ID INTEGER PROF LNAME VARCHAR(50) PROF FNAME...
-
From the following day book extracts, construct a VAT account for the month of October 2008. Net figures (before addition of VAT) for October 2008 Sales for month Purchases for month Returns inwards...
-
Show the journal entries necessary to record the following items (narratives are not required). (a) A debt owing to us by R Marshall for 60 is partly written off as bad, with a cash payment of 25p in...
-
Solve the following initial value problem. t + 1 (1). y(1) = 4 2ty y'(t)
-
U.S. Treasury Bills are quoted based on an Act / 360 / 360 discount yield, P B = P B = 1 y B N / 360 1 y B N / 360 , where N N is the number of days from settlement date to maturity date. (a)...
-
Geometric Series (a) In a Fractional Reserve system of banking, each bank need only keep a fraction , say 5 % 5 % , of its deposits and can lend out 1 1 . The loan recipient will then deposit 1...
-
Two positive charges having magnitude \(+q\) each are separated by a distance \(6 \mathrm{~mm}\) apart. Compute the electric field at a point located \(3 \mathrm{~mm}:\) (a) on the line joining of...
-
Show that one iteration is sufficient to find the minimum of a quadratic function by using the Newton's method.
-
A single-phase step-down transformer is rated $15 \mathrm{MVA}, 66 \mathrm{kV} / 11.5 \mathrm{kV}$. With the $11.5 \mathrm{kV}$ winding short-circuited, rated current flows when the voltage applied...
-
What is the difference between activity-on-node and activity-on-arrow diagrams?
-
Consider the setup in Problem 16. Show that the relative speed of the ball and the point of contact on the stick is the same before and immediately after the collision. (This result is analogous to...
-
You are to study the following financial statements for two businesses that operate in the same industry and then answer the questions which follow. Required: (a) Calculate the following ratios for...
-
If trade payables are 49,000 and purchases are 396,000, how many days does the business take on average to pay its creditors?
-
If trade receivables are 78,000 and sales are 493,000, how many days does the average debtor take to pay?
-
A net force of 6 0 4 Newtons will cause an object to have an acceleration of 1 4 . 1 ???? ???? / ???? . Determine the mass of the object ( in ???? ???? ) .
-
In a photoelectric experiment, it was found that the stopping potential decreases from 1.85 V to 0.82 V as the wavelength of the incident light is varied from 300 nm to 400 nm. Calculate the value of...
-
A capacitor is discharged through a 7 0 . 0 resistor. The discharge current decreases to 2 5 . 0 % of its initial value in 3 . 0 0 ???? ???? . Part A What is the value of the capacitor?
Study smarter with the SolutionInn App