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.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (QA)
Answered By
Aysha Ali
my name is ayesha ali. i have done my matriculation in science topics with a+ . then i got admission in the field of computer science and technology in punjab college, lahore. i have passed my final examination of college with a+ also. after that, i got admission in the biggest university of pakistan which is university of the punjab. i am studying business and information technology in my university. i always stand first in my class. i am very brilliant client. my experts always appreciate my work. my projects are very popular in my university because i always complete my work with extreme devotion. i have a great knowledge about all major science topics. science topics always remain my favorite topics. i am also a home expert. i teach many clients at my home ranging from pre-school level to university level. my clients always show excellent result. i am expert in writing essays, reports, speeches, researches and all type of projects. i also have a vast knowledge about business, marketing, cost accounting and finance. i am also expert in making presentations on powerpoint and microsoft word. if you need any sort of help in any topic, please dont hesitate to consult with me. i will provide you the best work at a very reasonable price. i am quality oriented and i have 5 year experience in the following field.
matriculation in science topics; inter in computer science; bachelors in business and information technology
_embed src=http://www.clocklink.com/clocks/0018-orange.swf?timezone=usa_albany& width=200 height=200 wmode=transparent type=application/x-shockwave-flash_
4.40+
11+ Reviews
14+ 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
-
Chris Curetons books show the following information for January 2005: Cash sales were 413.50 including VAT at 17.5%. VAT on purchases for the month was 1,898.66. Equipment purchased on 15 January...
-
List three specific parts of the Case Guide, Objectives and Strategy Section (See below) that you had the most difficulty understanding. Describe your current understanding of these parts. Provide...
-
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-5. Ivan's grandfather died and left a portfolio of municipal bonds. In 2012, they pay Ivan...
-
1. What are some other ways in which HEALTHeLINK could be used to support public health activities?
-
What is the relative importance of stock adjustments in financial assets as compared with adjustments in trade flows for exchange rate changes in the short run and in the long run according to the...
-
Projects A and B have the following cash flows: A 0 Year -$1,000 $1,150 1 2 $100 B -$1,000 $100 $1,300
-
Consider the following cash flow profile and assume MARR is 10 percent/year and the finance rate is 4 percent/ year. a. Determine the MIRR for this project. b. Is this project economically...
-
Cress Electronic Products manufactures components used in the automotive industry. Cress purchases parts for use in its manufacturing operation from a variety of different suppliers. One particular...
-
First Draw an ER Model please and then covert it into relational model seperate figures required thank you Each cinema is identified by its name and has its residency at an address which consists of...
-
From the following day book extracts, construct a VAT account for the month of May 2019. Additional information: Cash sales inclusive of VAT for May totalled 484.10. Net figures (before addition of...
-
Consider the following account: (i) What does the balance on May 1 represent? (ii) Calculate the balance for June 1. (iii) Where will the balance for June 1 appear in the final accounts? 2003 May 31...
-
MTBE (methyl tert-butyl ether) has been used as an additive in gasoline. The compound is produced by reacting methanol and isobutene, according to the following equation: If 45.0 kg of methanol is...
-
Using a spreadsheet program, construct a 30-year mortgage calculator and determine how long it takes to pay off the loan if a certain additional amount is paid towards principal each month. For...
-
Taxpayer: [Your Name] TIN: 987-654-321-000 Address: Poblacion, Puerto Galera, Oriental Mindoro On October 1, 2020, you have started and registered two (2) businesses: a bus transport company...
-
Starship plc specialises in the construction of retail shopping centres. This construction work is always based upon detailed customer specifications, and usually involves a fixed-price construction...
-
Calculate the Return on Equity: Netflix Income Statement Revenue Cost of Revenue Gross Profit Operating Expense Operating Income Int Exp Taxes Net Income From the Balance Sheet Shareholders Equity...
-
Forming New Corporation, Ivania transfers land with a basis of $25,000, a FMV of $50,000, and subject to a $10,000 liability, in exchange for New Corporation stock worth $50,000. How much gain does...
-
A flywheel of centroidal radius of gyration k is rigidly attached to a shaft that can roll along parallel rails. Denoting by s the coefficient of static friction between the shaft and the rails,...
-
d) For die casting processes: 1. What are the most common metals processed using die casting and discuss why other metals are not commonly die casted? 2. Which die casting machines usually have a...
-
During the year a business sold one of its old delivery vans, realising a profit on disposal of 1,100. The van had a carrying amount as at the date of disposal of 8,000. What figure for proceeds from...
-
Fu Wong has a sum of money, which he wishes to invest in shares. He has decided to invest in one of two companies, Chinoso plc or Paxorient plc. Fu Wong has carried out research on the internet and...
-
You are the accountant for Yau Tong Marketing plc and have to report on the financial statements of the company to the Board of Directors meeting. Information concerning the performance of the...
-
New CEO, Jonathan Akeroyd vision is to broaden the brand's appeal and is focusing on a long term strategy of growth, doubling the sales of key categories with a modern british luxury positioning of...
-
The oscillation of an object of on a frictionless surface is characterised by the following parameters: Amplitude = 5.0 cm. Maximum speed = 27.0 cm/s, Position at t= 0 is x(0) = +2.0 cm.initial...
-
A company that manufactures magnetic flow meters expects to undertake a project that will have the cash flows estimated. First cost, $ -880,000 Equipment replacement cost in -300,000 year 2, $ Annual...
Study smarter with the SolutionInn App