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Question 2 [13] 2.1 The information provided was extracted from the accounting records of Buddies (Pty) Ltd. Complete numbers (a) to (j) in the table

Question 2 [13]

2.1 The information provided was extracted from the accounting records of

Buddies (Pty) Ltd. Complete numbers (a) to (j) in the table below. The standard VAT rate of 15% is applicable.

No.

Description

VAT Inclusive

VAT Exclusive

VAT

Example

Rendering

R 1 150

R1 000

R150

1.

Selling goods

(a)

R3 000

(b)

2.

Cost of sales

R2 990

(c)

(d)

3.

Petrol

R920

(e)

(f)

4.

Stationery

(g)

(h)

R300

5.

Entertainment expenses

(i)

R500.00

(j)

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