Question
The new owner of Crash Builders Enterprise had to register for VAT as he is expected to achieve a turnover of more than R 1
The new owner of Crash Builders Enterprise had to register for VAT as he is expected to achieve a turnover of more than R 1 000 000 per annum. However, he is unsure how to treat different kinds of income and the applicable VAT and asked you for your advice.
All amounts include VAT at 15% where applicable
REQUIRED You are required to calculate the VAT for each of these transactions.
Note: Round of the nearest Rand
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Introduction to Managerial Accounting
Authors: Peter C. Brewer, Ray H Garrison, Eric Noreen
8th edition
1259917061, 978-1259917066
