Pattie started her business on 1 November 2021 as a trader in chairs. Her transactions during...

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Pattie started her business on 1 November 2021 as a trader in chairs. Her transactions during her first month were as follows (in date order): (a) She transferred $6,000 into a separate bank account for the business. (b) The business bought chairs for $1,600 cash, VAT 19% (c) The business sold all the chairs for $2,200 cash, VAT 19%. Fill in the blanks: (1). VAT collected is (2). VAT deductible is (3). Turnover is (4). Profit is (5). Share capital is (6). At the end of November, equity is (7) Closing balance for Cash is Pattie started her business on 1 November 2021 as a trader in chairs. Her transactions during her first month were as follows (in date order): (a) She transferred $6,000 into a separate bank account for the business. (b) The business bought chairs for $1,600 cash, VAT 19% (c) The business sold all the chairs for $2,200 cash, VAT 19%. Fill in the blanks: (1). VAT collected is (2). VAT deductible is (3). Turnover is (4). Profit is (5). Share capital is (6). At the end of November, equity is (7) Closing balance for Cash is