As at 5 June 74,850 was owed as VAT. During the week commencing on that date purchases

Question:

As at 5 June £74,850 was owed as VAT. During the week commencing on that date purchases were £141,000 (excluding VAT) and sales £423,000 (inclusive of VAT). Assuming that there were no other transactions involving VAT the amount owed as VAT by the end of the week would be:

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Financial Accounting An Introduction

ISBN: 9780273737650

2nd Edition

Authors: Mr Barry Elliott, Mr Augustine Benedict

Question Posted: