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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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