G. Brown's sales including VAT were 130,000 in November 2020, then 150,000 in December 2020, and...
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G. Brown's sales including VAT were £130,000 in November 2020, then £150,000 in December 2020, and £110,000 during January 2021. Suppose that the rate of VAT was 20 per cent until 31 December 2020 and 22.5 per cent from 1 January 2021. Exactly three-fifths of Brown's net sales are subject to VAT, the rest being zero-rated, What is the correct total credit to Output VAT in Brown's general ledger for the quarter to 31 January 2021? G. Brown's sales including VAT were £130,000 in November 2020, then £150,000 in December 2020, and £110,000 during January 2021. Suppose that the rate of VAT was 20 per cent until 31 December 2020 and 22.5 per cent from 1 January 2021. Exactly three-fifths of Brown's net sales are subject to VAT, the rest being zero-rated, What is the correct total credit to Output VAT in Brown's general ledger for the quarter to 31 January 2021?
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Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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