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Question 2 [12] You are provided with the following information relating to NorthEast Manufacturers for the VAT period ended 30 April 2020. The standard VAT
Question 2 [12] You are provided with the following information relating to NorthEast Manufacturers for the VAT period ended 30 April 2020. The standard VAT rate is 15%. All parties involved are VAT vendors. Transactions for the two No. Excluding VAT VAT amount Including VAT month period Example Services rendered R1 000 R150 R1 150 1. Insurance premiums R750 (a) (b) 2. Bought a double-cab bakkie (c) (d) R180 000 3. Rates and taxes bill R450 (e) 4. Telephone account R150 5. Brown bread for staff lunches R200 00 6. Stationery (1) R5980 NII (k) Required: Calculate the relevant amounts (a) to (1) in the table above. Round off to TWO decimals
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