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Question 1 (Marks: 10) The following information is directly from the books of Charles Le Clerc Engineering (Pty) Ltd. A registered VAT Vendor during October
Question 1 (Marks: 10) The following information is directly from the books of Charles Le Clerc Engineering (Pty) Ltd. A registered VAT Vendor during October 2020. VAT is levied at 15% Transaction Excluding VAT VAT Including VAT R R R 700 Purchased petrol worth (A) R750.00 at Shell garage Sold to branded T-shirts to a (B) 8 500 customer on credit Exported goods to Germany 95 620 (C) from South Africa Bought a delivery vehicle for 850 000 (D) the business Purchased inventory from a (E) 856 000 local supplier that is a vat vendor 0.1.1 You are required to: (10) Calculate the missing amounts by only writing letters as indicated from (A) to (E) in the table above and your calculated answer. In your exam booklet (answering book), only write down the letters and your answers next to each letter (i.e. no need to redraw the table). Show all calculations
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