25. R&R Construction Limited supplies for April 2024 was: • Construction services $500,000 (exempt VAT activity) • Electrical services $2,000,000 • Surveying services $300,000 • Export services$700,000 The VAT rate is 15% Material for construction work - $15,000 Material for electrical services - $52,500 Material for surveying services - $ 22,500 Purchase of staff uniform $4,950 The Net VAT Payable a. 250,050 b. 270,000 c. 325,050 d. 430,050
25. R&R Construction Limited supplies for April 2024 was: • Construction services $500,000 (exempt VAT activity) • Electrical services $2,000,000 • Surveying services $300,000 • Export services$700,000 The VAT rate is 15% Material for construction work - $15,000 Material for electrical services - $52,500 Material for surveying services - $ 22,500 Purchase of staff uniform $4,950 The Net VAT Payable a. 250,050 b. 270,000 c. 325,050 d. 430,050
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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25. R&R Construction Limited supplies for April 2024 was:
• Construction services $500,000 (exempt VAT activity)
• Electrical services $2,000,000
• Surveying services $300,000
• Export services$700,000
The VAT rate is 15%
Material for construction work - $15,000
Material for electrical services - $52,500
Material for surveying services - $ 22,500
Purchase of staff uniform $4,950
The Net VAT Payable
a. 250,050
b. 270,000
c. 325,050
d. 430,050
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