Question
8) ABC Enterprises purchased furniture on 1st January 2019. Following costs were incurred by the entity. Purchase cost - Rs. 600,000 Subsidy given by the
8) ABC Enterprises purchased furniture on 1st January 2019. Following costs were incurred by the entity. Purchase cost - Rs. 600,000 Subsidy given by the government Rs. 20,000 Transportation charges Rs. 20,000 Legal fee Rs.15,000 Insurance charge 4,000 (For the year) Direct Tax on purchase Rs. 60,000 VAT on purchase 30,000 (80% recoverable) Calculate the cost of the furniture
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Financial Accounting
Authors: Jeffrey Waybright, Robert Kemp
1st Edition
013606048X, 9780136060482
