FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

b) Katanka Ltd is a VAT registered trader dealing in manufacturing and sale of canned fish. Below is an extract from the books of the

image text in transcribed
b) Katanka Ltd is a VAT registered trader dealing in manufacturing and sale of canned fish. Below is an extract from the books of the company for the month of February 2022. Required: i. Compute the total Value Added Tax and other related taxes payable or tax credit due to the company for the month of February 2022. (10 marks) ii. If the company filed their VAT returns on 31st October 2022 , state the penalty for late filing of VAT returns and calculate the penalty due

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

ISE Managerial Accounting For Manager

ISE Managerial Accounting For Manager

Authors: Eric Noreen, Peter C. Brewer, Ray H. Garrison

6th Edition

1265118434, 9781265118433

More Books

Students also viewed these Accounting questions

Question

★★★★★
Lively Home Products had the following transactions for the month of June 2014: Jun. 1 Sold $4,000 of merchandise to Thomas Chase, terms n/30. Inventory had a cost of $2,248. The sale was subject to...

Answered: 1 week ago

Question

★★★★★
In Exercises 5970, the domain of each piecewise function is (- , ). a. Graph each function. b. Use your graph to determine the functions range. f(x) = 2x if x 0 2 if x > 0

Answered: 1 week ago

Question

★★★★★
2. Keep art supplies near the sink, small-group work by a blackboard.

Answered: 1 week ago

Question

★★★★★
The partnership of Folly and Frill is in the process of liquidation. On January 1, 2011, the ledger shows account balances as follows: On January 10, 2011, the lumber inventory is sold for $25,000,...

Answered: 1 week ago

Question

★★★★★
Green Ltd are preparing a cash budget for January. Its credit sales in the last 3 months were: October 80,000 November 60,000 December 100,000 Estimated credit sales for January are 50,000. its...

Answered: 1 week ago

Question

★★★★★
2) Please solve for the value of the following bonds and briefly explain your results: A) A U.S. Government Treasury Strip is quoted in the Wall Street Journal at a market price of 87:19 (87 and...

Answered: 1 week ago

Question

★★★★★
Mortgage Payoff: You take out a 30-year fixed rate mortgage for a house. The amount borrowed is $300,000. The interest rate is 4% per year compounded monthly. You decide to sell the house immediately...

Answered: 1 week ago

Question

★★★★★
A community hospital system realized that approximately 2,000 patients were leaving its emergency department (ED) each year without receiving medical attention. This hospital system realized that...

Answered: 1 week ago

Question

★★★★★
Describe what a quality control activity might look like at a t-shirt manufacturing factory. (LO3.3)

Answered: 1 week ago

Question

★★★★★
Save & Exit Brandon, an individual, began business four years ago and has sold 1231 assets with $5,900 of losses within the last five years. Brandon owned each of the assets for several years. In the...

Answered: 1 week ago

Question

★★★★★
The Lim Company has a plant that manufacturers transistor radios. The production time is only a few minutes per unit. The company uses a just-in- time production system and a backflush costing system...

Answered: 1 week ago

Question

★★★★★
Do any of these goals contradict another goal? If yes, which goal(s) will you eliminate?

Answered: 1 week ago

Question

★★★★★
What is the education level of your key public?

Answered: 1 week ago

Question

★★★★★
What are the cultural/ethnic/religious traits of your key public?

Answered: 1 week ago

Previous Question Next Question