Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 10 of 20 Africa Traders is a registered VAT vendor. Africa Traders buys and sells furniture and equipment to customers for cash or on

image text in transcribed

image text in transcribed

Question 10 of 20 Africa Traders is a registered VAT vendor. Africa Traders buys and sells furniture and equipment to customers for cash or on credit. The inexperienced Bookkeeper of Africa Traders has prepared the following two Sales journals for the month of February 2020, as the bookkeeper was not sure whether the Sales column in the Sales journal should be recorded inclusive or exclusive of VAT output: SALES JOURNAL - February 2020 SUM Doc no Day Details VAT Output Debtors Sales R13 034,47 R86 896,49 R99 930,96 25 L Tiger DL1 5900 R14 989,64 R99 930,96 R114 920,61 27 R28 024,12 R186 827,45 R214 815,57 Totals Fol. 5899 T Lion DL2 OR SALES JOURNAL - February 2020 Doc no Day Details SJ1 Debtors Fol. VAT Output Sales 5899 25 L Tiger DL1 5900 R13034,47 R86 896,49 R99 930,96 R14 989,64 R99 930,96 R114 92061 R28 0 24,12 R186 827,45 R214 815,57 27 IT Lion DL2 Totals The inexperienced bookkeeper requires your assistance regarding posting the correct Sales journal to the general ledger for the month ending 28 February 2020 Which of the following general ledger accounts options reflects the correct posting of the correct Sales journal for the month ending 28 February 2020 to the general ledger? A. Dr Cr 2020 Debtors control R 2020 Feb R 214 815,57 Feb Sales and VAT Output 28 28 B. Dr Cr 2020 Debtors control R 2020 214 815,57 Feb R Feb 28 Sales and VAT Output 28 C. Dr cr Debtors control R 2020 Feb 2020 Feb R 186 827,45 28 28 Sales and VAT Output . D Dr Debtors control Cr 2020 R 2020 R Feb 28 186 827,45 Feb Sales and VAT Output 28

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

The Federal Budget Politics Policy Process

Authors: Allen Schick

3rd Edition

0815777353, 9780815777359

More Books

Students also viewed these Accounting questions

Question

What is an inflection point?

Answered: 1 week ago