Malimina Mills Pty Ltd is a registered VAT vendor specialising in selling maize meal and related products. The company makes use of the perpetual inventory system to account for inventory. During the month of May 2019, the following transactions took place. Assume a standard VAT rate of 15% is used On 01 May 2019, the company purchased a delivery vehicle costing N$150,000 including VAT from Masima Transporters on credit. On 05 May 2019, sold maize meal to PicnPay for N$450,000 (including VAT) on credit . On 06 May 2019, paid N$50,000 of the amount owed to Masima Transporters. On 10 May 2019, purchased Corn from Corny Shop for N$300,000 excluding VAT and paid by EFT. On 15 May 2019, PicnPay returned maize meal to the value of N$50,000 including VAT Given the information above, calculate the total amount to be credited to the bank account for the month of May (3) Select one: O a 395.000 OD 350,000 ON$500,000 Zebra publishing is a VAT registered vendor They imported a large scale printing equipment from Japan at a purchase price of N$138 000 (VAT incl.). The equipment was shipped through Walvis bay, incurring shipping costs of N$20 000 (VAT excl.) and non-refundable import duties of N$10 000 (VAT excl.). Other related costs incurred were as follows (All VAT exclusive) Installation cost of N$15 464, including a service discount received of 3% Warehouse clearing and other cost of preparing the site of equipment N$5 000 Administrative and general overhead costs N$15 000, Cost of testing the equipment N$10 000, Proceeds from printing pamphlets for testing N$3 000 Advertisement for commencement of bulk printing services N$10 000 Present value of total cost to dismantle and remove the equipment at the end of its life N$15 000 Required: Calculate and indicate the cost of equipment at initial recognition according to IAS 16 (10) Select one O a 193 000 O . 210,464 Malimina Mills Pty Ltd is a registered VAT vendor specialising in selling maize meal and related products. The company makes use of the perpetual inventory system to account for inventory. During the month of May 2019, the following transactions took place. Assume a standard VAT rate of 15% is used On 01 May 2019, the company purchased a delivery vehicle costing N$150,000 including VAT from Masima Transporters on credit. On 05 May 2019, sold maize meal to PicnPay for N$450,000 (including VAT) on credit . On 06 May 2019, paid N$50,000 of the amount owed to Masima Transporters. On 10 May 2019, purchased Corn from Corny Shop for N$300,000 excluding VAT and paid by EFT. On 15 May 2019, PicnPay returned maize meal to the value of N$50,000 including VAT Given the information above, calculate the total amount to be credited to the bank account for the month of May (3) Select one: O a 395.000 OD 350,000 ON$500,000 Zebra publishing is a VAT registered vendor They imported a large scale printing equipment from Japan at a purchase price of N$138 000 (VAT incl.). The equipment was shipped through Walvis bay, incurring shipping costs of N$20 000 (VAT excl.) and non-refundable import duties of N$10 000 (VAT excl.). Other related costs incurred were as follows (All VAT exclusive) Installation cost of N$15 464, including a service discount received of 3% Warehouse clearing and other cost of preparing the site of equipment N$5 000 Administrative and general overhead costs N$15 000, Cost of testing the equipment N$10 000, Proceeds from printing pamphlets for testing N$3 000 Advertisement for commencement of bulk printing services N$10 000 Present value of total cost to dismantle and remove the equipment at the end of its life N$15 000 Required: Calculate and indicate the cost of equipment at initial recognition according to IAS 16 (10) Select one O a 193 000 O . 210,464