Branches (Write, Scan and upload your PDF answer to this question) The following information pertains to the head office (Candy K) located in Bloemfontein and its dependent branch (Welkom) for the year ended 31 December 20.20. Candy K is registered for VAT purposes and the current VAT rate should be used where applicable. All inventories to the branch are supplied by the head office at selling price (Cost price plus 25%) Branch transactions for the year ended 31 December 20.20 Transactions Rands Branch inventories at 1 January 20.20 (At Selling price: VAT excl) 18 750 Inventory dispatched to branch at selling price (VAT Excl) 68 750 12 Inventory returned to head office by the branch (VAT Excl) 700 3 Inventory sales (4096 are on credit) 51 750 14 Branch expenses paid by head office (Rent - VAT incl) 3 450 15 Returns from branch receivables (VAT Incl) 1 208 16 Donations of inventory to One people charity (@ Selling price: VAT excl) 350 7 Receipts from branch receivables 2 500 18 Credit sales of obsolete stock at 15% discount on normal selling price 15 640 19 920 A decision has been taken to write off all branch receivables not able to pay their debts. Marks 5 REQUIRED: The following ledger accounts: a) Branch Profit or Loss b) Branch Gross profit C) VAT output TOTAL MARKS 3 15 Show all your calculations. Calculate all amounts towards the nearest Rand (Write, Scan and upload your PDF answer to this question) Branches (Write, Scan and upload your PDF answer to this question) The following information pertains to the head office (Candy K) located in Bloemfontein and its dependent branch (Welkom) for the year ended 31 December 20.20. Candy K is registered for VAT purposes and the current VAT rate should be used where applicable. All inventories to the branch are supplied by the head office at selling price (Cost price plus 25%) Branch transactions for the year ended 31 December 20.20 Transactions Rands Branch inventories at 1 January 20.20 (At Selling price: VAT excl) 18 750 Inventory dispatched to branch at selling price (VAT Excl) 68 750 12 Inventory returned to head office by the branch (VAT Excl) 700 3 Inventory sales (4096 are on credit) 51 750 14 Branch expenses paid by head office (Rent - VAT incl) 3 450 15 Returns from branch receivables (VAT Incl) 1 208 16 Donations of inventory to One people charity (@ Selling price: VAT excl) 350 7 Receipts from branch receivables 2 500 18 Credit sales of obsolete stock at 15% discount on normal selling price 15 640 19 920 A decision has been taken to write off all branch receivables not able to pay their debts. Marks 5 REQUIRED: The following ledger accounts: a) Branch Profit or Loss b) Branch Gross profit C) VAT output TOTAL MARKS 3 15 Show all your calculations. Calculate all amounts towards the nearest Rand (Write, Scan and upload your PDF answer to this question)