HS Stores purchased equipment on credit from RG Traders for R11270 (inclusive of 15% VAT). The VAT input amount (rounded off to the nearest rand) on this credit purchase is. •OA. R1 384 B. R1 691 C. R1 470 D. R9 800 E. R1 578

HS Stores purchased equipment on credit from RG Traders for R11270 (inclusive of 15% VAT). The VAT input amount (rounded off to the nearest rand) on this credit purchase is. •OA. R1 384 B. R1 691 C. R1 470 D. R9 800 E. R1 578

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

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Which option is right?

HS Stores purchased equipment on
credit from RG Traders for R11270
(inclusive of 15% VAT). The VAT input
amount (rounded off to the nearest
rand) on this credit purchase is.
A. R1 384
B. R1 691
C. R1 470
D. R9 800
E. R1 578
Rocet Selection

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