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Could you pls help me solve QUESTION TWO The information below relate to the records of Restrictions Limited, a VAT registered trader in general goods,

Could you pls help me solve

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QUESTION TWO The information below relate to the records of Restrictions Limited, a VAT registered trader in general goods, for the month of January 2020. Items purchased Value (GHS) Leather (imported) 320,000 Paper 145,000 Adhesive 35,000 Furniture 450,000 Fabric 250,000 Wood polish 16,000 Foam 110,500 Laboratory equipment (imported) 203,000 Items sold Furniture (in Ghana) 360,000 Furniture (export) 450,000 Diaries 210,000 Laboratory equipment 244,000 Note: i) The furniture sold in Ghana include supplies worth GHS 92,000 to some foreign ii) iii) iv) embassies in Ghana: Purchases include GHS 4,800.00 adhesive and GHS 46,000.00 paper purchased from petty traders not registered for VAT with GRA. Sale of laboratory equipment include supplies worth GHS 85,000 made to some senior high schools and universities in Ghana. A Savings and Loans Company that purchased furniture worth GHS 42,525 (VAT/NHILXGETFUND levy inclusive) has had their operating license withdrawn by the Bank of Ghana and are therefore unable to honour their obligations. Restrictions Limited has decided to write off the amount due 'om them as bad debt in the month of January 2020. You are required to calculate the amount of VAT, NHIL and GETFUND levy due to the GRA or due to be refunded to the trader. (20 marks)

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