Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Question 19 of 20 Africa Traders, a registered VAT vendor, manufactures and sells plastic toys. The VAT rate is 15%. The entity uses the periodic
Question 19 of 20 Africa Traders, a registered VAT vendor, manufactures and sells plastic toys. The VAT rate is 15%. The entity uses the periodic inventory system 90-00-00-01 Date 25/07/2020 NOT TRANSFERABLE To C Africa SA Bank Limited Pretoria Date: 25 July 2020 For Salary July Pay: C Africa or Beerer Balance Deposit Subtotal The sum of: Twenty three thousand rand only 23 000,00 This cheque R23 000,00 Balance R R R R A Africa B Africa For: Africa Traders 0020 0020:900000-:9000 12345611-01 How will the above source document be recorded in the applicable subsidiary journal of Africa Traders? A. Africa Traders Cash Payments Journal - July 2020 CP JO7 Doc Details 25 C Africa no Day Fol Bank Purchases R23 000) VIA:Tinput Sundry accounts Amount Details R23 000 Saties Fol B. Africa Traders Cash Receipts Joumal - July 2020 CRJO7 Doc Day Details 25 C Africa no Analysis of Fol receipts R23 000) Sales Bank R23 000) Sundry accounts VAT output Amount Foll Details R3 000 R20 000 Salaries C. Africa Traders Cash Receipts Joumal - July 2020 CRJO7 11/13 /20/21, 4:35 AM Doc no Day 25 C Africa Details myModules : FAC 1501-21-S1-2E: Online Assessment Fol Analysis of VAT output Sundry accounts receipts Bank Sales Amount Fol Details R23 000 R23 000 R23 000 Salaries D. Africa Traders Cash Payments Journal - July 2020 CPJO7 Doc no Day Details 25 C Africa Fol Bank R23 000 Purchases VAT input R3 000) Sundry accounts Amount Fol Details R20 000 Salaries
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started