Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The follawing VAT balances were extracted from the subsidiary journals of Africa Traders as at 2 B February 2 0 2 2 table [
The follawing VAT balances were extracted from the subsidiary journals of Africa Traders as at February
tableRCash receipts journal,VAT input,VAT output,Cash payments journal,VAT input,VAT output,Purchases journal,VATSales journal,VATPurchases retums joumal,VATSales returns journal,VAT
On February the VAT input account had a debit opening balance of R and the VAT output account had a credit opening balance of R
Calculate the closing balance of the VAT input account as at February
NB: Instructions
Do not type the amount with ary spaces as separators for thousands eq:
Only show the amount, do not show the R eg
Answer:
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started