Question 2

At the beginning of the second tax period of 2020, the value-added tax balance reached 100 dinars in favor of the Sheikh Commercial Company, and the following are the operations that were carried out during the tax period:

On April 5, the goods purchased are subject to the zero-tax rate of 5,000 dinars in cash.

On April 8, the goods purchased are subject to the basic tax rate of 15,000 dinars on the account from Al-Ali Company.

On April 10, returns for goods subject to the basic tax rate amounted to 1,200 dinars that were purchased from Al-Ali Company, and returns for purchases of goods subject to zero tax amounted to 200 dinars.

On May 14, merchandise subject to the zero-tax rate, at an amount of 6,000 dinars, was sold to Abdelaziz on account, and other goods subject to a basic tax rate of 14,000 dinars in cash.

On May 27, a commodity that the company had sold to Abdelaziz Company on May 14 was received, amounting to 3,000 dinars.

On June 17, a debt was written off for 400 dinars of sales subject to the base tax rate that had been sold to the customer Murad.

Required: Answer the following:

1- Determine the amount of the value-added tax for each transaction in a table indicating whether it is in the interest of the company or for the benefit of the state specifying the balance of the tax due at the end of the tax period (two marks)

2- Photocopying of the value-added tax deposit account. (Two marks)

3- Recording all accounting entries in the companys journal if it knows that the company decided to rotate the remaining balance at the end of the period to the next period if the balance is in the companys favor. (5 marks)

4- The registration of the tax that must be paid by the company to the National Bureau of Revenue or the amount of the tax that must be recovered in favor of the company, according to the company's decision. (sign).