Question 2 The following transaction relates to the transaction of Johnson Adeleke Enterprises for the year...

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Question 2 The following transaction relates to the transaction of Johnson Adeleke Enterprises for the year ended 30 September 2017 a. b. C. d. e. f. g. a. Sales invoice NGN 50 million excluding Value Added Tax(VAT) Cash sales NGN10 million including Value Added Tax Required: b. Purchase invoice NGN38million excluding VAT Purchases invoice for goods that zero rated NGN11.6 million Motor vehicle expenses NGN1,100,000 excluding VAT Purchases invoice for inputs for production exempted goods NGN22million Sales invoices for zero rated goods NGN33million Record the transaction in the relevant books How much VAT is due to (from) the VAT authority at September 2017 (VAT rate is 5%) Question 2 The following transaction relates to the transaction of Johnson Adeleke Enterprises for the year ended 30 September 2017 a. b. C. d. e. f. g. a. Sales invoice NGN 50 million excluding Value Added Tax(VAT) Cash sales NGN10 million including Value Added Tax Required: b. Purchase invoice NGN38million excluding VAT Purchases invoice for goods that zero rated NGN11.6 million Motor vehicle expenses NGN1,100,000 excluding VAT Purchases invoice for inputs for production exempted goods NGN22million Sales invoices for zero rated goods NGN33million Record the transaction in the relevant books How much VAT is due to (from) the VAT authority at September 2017 (VAT rate is 5%)

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Answer soeng het C denote the event that ex... View the full answer