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QUESTION 2 [30 MARKS) Tammy Tailor, a registered VAT vendor, has been practicing as an attorney since 1 March 2018. The following took place in
QUESTION 2 [30 MARKS) Tammy Tailor, a registered VAT vendor, has been practicing as an attorney since 1 March 2018. The following took place in the month of November 2020. 1 5 6 16 17 T Tshilam pays Tammy a deposit of R45 000 to cover her divorce proceeding T Turner giver Tammy a cheque for R25 000 to cover costs in respect of a purchase of a house from Jackman. You are advised by the bank that the cheque received from TTshilam has is dishomoured. Tammy Tailor pays legal counsel R18 400 (vat inclusive) in respect of a Consulatation that T Tshilam had with counsel. Tammy Tailor pays transfer duty of R15 000 and bond registration costs of R5 000 on behalf of T Turner T Tshilam gives Tammy a cheque of R 27 500 Tammy Tailor transfers the money she is entitled to Tammy Tailor charges the following fees (inclusive of Vat) T Tshilam R 9 100 T Turner R 8 625 Tammy transfers all the monies she is entitled to 1 18 20 15 27 You are required to: (i) Show the ledger (T) accounts (business & trust) in Tammy Tailors books in respect of the above transactions that took place in September () show the transfer journals you would make. (show dates clearly) QUESTION 2 [30 MARKS) Tammy Tailor, a registered VAT vendor, has been practicing as an attorney since 1 March 2018. The following took place in the month of November 2020. 1 5 6 16 17 T Tshilam pays Tammy a deposit of R45 000 to cover her divorce proceeding T Turner giver Tammy a cheque for R25 000 to cover costs in respect of a purchase of a house from Jackman. You are advised by the bank that the cheque received from TTshilam has is dishomoured. Tammy Tailor pays legal counsel R18 400 (vat inclusive) in respect of a Consulatation that T Tshilam had with counsel. Tammy Tailor pays transfer duty of R15 000 and bond registration costs of R5 000 on behalf of T Turner T Tshilam gives Tammy a cheque of R 27 500 Tammy Tailor transfers the money she is entitled to Tammy Tailor charges the following fees (inclusive of Vat) T Tshilam R 9 100 T Turner R 8 625 Tammy transfers all the monies she is entitled to 1 18 20 15 27 You are required to: (i) Show the ledger (T) accounts (business & trust) in Tammy Tailors books in respect of the above transactions that took place in September () show the transfer journals you would make. (show dates clearly)
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