XYZ (Pty) Ltd carries on a manufacturing business and asks that you calculate the VAT payabl or refundable to it, during the VAT period, based on the following information. All amounts are inclusive where applicable: 

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Sales of inventory Sale of fixed assets Rental received from letting residential house Consulting fee Interest received Purchase of materials Rent paid Wages paid Bad debts Required: 3.1 228 000 57 000 4 000 114 000 33 600 102 600 10 260 55 000 42 000 Calculate the VAT payable to or refundable from SARS assuming a VAT rate of 14% Sales of inventory Sale of fixed assets Rental received from letting residential house Consulting fee Interest received Purchase of materials Rent paid Wages paid Bad debts Required: 3.1 228 000 57 000 4 000 114 000 33 600 102 600 10 260 55 000 42 000 Calculate the VAT payable to or refundable from SARS assuming a VAT rate of 14%

Answer rating: 100% (QA)

ANSWER VAT... View the full answer