Question
The following information relates to Fruit and Veggie Spaza Shop, who is registered as a VAT vendor (The VAT rate applicable is 15%). The periodic
The following information relates to Fruit and Veggie Spaza Shop, who is registered as a VAT vendor (The VAT rate applicable is 15%). The periodic inventory system and control accounts are in use: (The VAT period of the business ends on equal months.) FRUIT AND VEGGIES SPAZA SHOP EXTRACT OF BALANCES AS AT 31 AUGUST 20.20 R VAT input 13 500 VAT output 67 500 Additional information that still needs to be taken into account: On 24 August, a desk was purchased on credit from Cabbage Furniture, R139 380. Which one of the following options represents the correct general journal entries for the desk purchased for Fruit and Veggies: Instructions: Drag the correct answer into the correct space. An option can be used more than once. If an option has been provided and it is not applicable to the specific question, please put N/A in the account column and a 0 in the amounts column. When recording the debit entries, you must start with the applicable income or expense or asset account, followed by the applicable vat account. Background image for dragging markers ontoFurnitureVAT inputCabbage Furniture/Trade payables control139 38020 907139 380 DeskVAT inputCabbage Furniture/Trade payables controlVAT outputN/AFurnitureCabbage Furniture/Trade receivables controlEquipment 018 18020 907139 380118 473121 200
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