Question
A registered producer at VAT department sold a product to a registered wholesaler for 25,000 who sold it not registered retailer at a profit margin
A registered producer at VAT department sold a product to a registered wholesaler for 25,000 who sold it not registered retailer at a profit margin 15% from its cost who sold it to consumer for 30,000 if u learn the VAT rate is 14%
Required:
- Determine the gross value of the invoice that issued by the producer, wholesaler and retailer:
1- Retailer is registered at VAT department
2 Retailer isn’t registered at VAT department - Determine Tax Due that must be turned too VAT department by producer, wholesaler and retailer.
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Cost Accounting
Authors: William K. Carter
14th edition
759338094, 978-0759338098
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