For the following sales transactions calculate the following: (i) Sales invoice totals with VAT at 17.5% (ii)

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For the following sales transactions calculate the following:

(i) Sales invoice totals with VAT at 17.5%

(ii) Amount due if the cash discount is taken.

(a) Sales of £1,500 with a cash discount of 5%

(b) Sales of £1,000 with a trade discount of 20% and a cash discount of 2.5%

(c) Sales of £2,000 with a trade discount of 10% and a cash discount of 1.25%

(d) Sales of £640 with a trade discount of 25% and a cash discount of 3%

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Frank Woods Business Accounting Basics

ISBN: 9780273725008

1st Edition

Authors: Frank Wood, Mr David Horner

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