A trader registered for VAT reports his purchases, sales and expenses for the year as 138,180, 174,135
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A trader registered for VAT reports his purchases, sales and expenses for the year as £138,180, £174,135 and £25,380. Additionally he paid £35,250 for an office vehicle and £15,040 for office equipment. The amounts stated are all inclusive of VAT at 17.5%. The Statement of financial position as at the year-end will report VAT as:
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Related Book For
Financial Accounting An Introduction
ISBN: 9780273737650
2nd Edition
Authors: Mr Barry Elliott, Mr Augustine Benedict
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