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The following balances were extracted from the subsidiary journals of General Spaza Shop as at 2 8 February 2 0 . 2 . Time left
The following balances were extracted from the subsidiary journals of General Spaza Shop as at February
Time left ::
tableRCash receipts journal,VAT input,Sales column,Cash payments journal,Purchases column,VAT output,Purchases journal,Trade payables column,Sales journal,Trade receivables column,Purchases returns journal,Trade payables column,Sales returns journal,Trade receivables column,
On February the VAT input account had an opening balance of R and the VAT output account had an opening balance of R
The applicable VAT rate is
Calculate the closing balance of the VAT input account as at February
Instructions:
Use a full stop to indicate any decimals eg:
Round off to the second decimal after the full stop eg:
For embedded questions spelling is very important. If you spell the answer incorrect it will be marked incorrect. Please make sure that your spelling of the words is correct.
Keep the ledger entries strictly according to the information given.
GENERAL SPAZA SHOP
GENERAL LEDGER
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