Question: Question 2 [13] 2.1 The information provided was extracted from the accounting records of Buddies (Pty) Ltd. Complete numbers (a) to (j) in the table
Question 2 [13]
2.1 The information provided was extracted from the accounting records of
Buddies (Pty) Ltd. Complete numbers (a) to (j) in the table below. The standard VAT rate of 15% is applicable.
| No. | Description | VAT Inclusive | VAT Exclusive | VAT |
| Example | Rendering | R 1 150 | R1 000 | R150 |
| 1. | Selling goods | (a) | R3 000 | (b) |
| 2. | Cost of sales | R2 990 | (c) | (d) |
| 3. | Petrol | R920 | (e) | (f) |
| 4. | Stationery | (g) | (h) | R300 |
| 5. | Entertainment expenses | (i) | R500.00 | (j) |
|
|
|
|
|
|
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock