Up until December 2020, K. Heitinga sold T-shirts for 12 including VAT at 20%. Suppose that the

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Up until December 2020, K. Heitinga sold T-shirts for £12 including VAT at 20%.

Suppose that the government announces a reduction in the rate of VAT to 15%, effective from 1 January 2021 onwards.

If Heitinga reduces her selling price to exactly reflect the change in VAT rate, what will the selling price of her T-shirts be in 2021?

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Frank Woods Business Accounting An Introduction To Financial Accounting

ISBN: 9781292365435

15th Edition

Authors: Alan Sangster, Lewis Gordon, Frank Wood

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Question Posted: Feb 29, 2024 09:01 AM

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Up until December 2020, K. Heitinga sold T-shirts for 12 including VAT at 20%. Suppose that the

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Frank Woods Business Accounting An Introduction To Financial Accounting

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