Time left 1 1 2 0 7 Construction Boys CC , a registered VAT vendor, purchased equipment for R 9 2 0 0 0 ( inclusive of 1 5 VAT ) on credit from Jayzi Ltd Arrangements were made to settle the account over a six month period Which of the following statements is correct when recording the purchase of the equipment in the accounting records of Construction Boys CC a Debit equipment account ( R 1 0 5 8 0 0 ) , credit VAT output ( R 1 3 8 0 0 ) , credit creditors control Jayzi Ltd ( R 9 2 0 0 0 ) b Debit equipment account ( R 9 2 0 0 0 ) , debit VAT input ( R 1 3 8 0 0 ) , credit creditors control Jayzi Ltd ( R 1 0 5 8 0 0 ) c Debit equipment account ( R 8 0 0 0 0 ) , debit VAT input ( R 1 2 0 0 0 ) , credit creditors control Jayzi Ltd ( R 9 2 0 0 0 ) d Debit equipment account ( R 9 2 0 0 0 ) , credit VAT output ( R 1 2 0 0 0 ) , credit creditors control Jayzi Ltd ( R 8 0 0 0 0 )

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Question: Time left 1 : 1 2 : 0 7 Construction Boys CC , a registered VAT vendor, purchased equipment for R 9 2 0 0

Time left

1

12

07

Construction Boys CC

,

a registered VAT vendor, purchased equipment for R

92 000 (

inclusive of

15 %

VAT

)

on credit from Jayzi Ltd

.

Arrangements were made to settle the account over a six month period. Which of the following statements is correct when recording the purchase of the equipment in the accounting records of Construction Boys CC

?

.

Debit equipment account

(

105 800),

credit VAT output

(

13 800),

credit creditors control: Jayzi Ltd

(R 92000) .

.

Debit equipment account

(

92 000),

debit VAT input

(

13 800),

credit creditors control: Jayzi Ltd

(R 105800)

.

Debit equipment account

(R 80 000),

debit VAT input

(

12 000),

credit creditors control: Jayzi Ltd

(R 92000)

.

Debit equipment account

(R 92 000),

credit VAT output

(

12 000),

credit creditors control: Jayzi Ltd

(R 80000)

equipment for R92000(inclusive of 15% VAT) on credit from Jayzi Ltd. Arrangements

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