VAT exclusive price VAT inclusive price _(b). VAT Amount _(a). (d) R220 (c) (e) R862.50 R126 (f) Q.2.2 Cost Price (Excl VAT) (e) Mark up on Cost Profit Selling price (Excl VAT) (f) _(Excl VAT). 20% R40
VAT exclusive price VAT inclusive price _(b). VAT Amount _(a). (d) R220 (c) (e) R862.50 R126 (f) Q.2.2 Cost Price (Excl VAT) (e) Mark up on Cost Profit Selling price (Excl VAT) (f) _(Excl VAT). 20% R40
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
please help answer
Complete the two tables below using the information provided and assume a VAT rate of 15%
Transcribed Image Text:VAT exclusive price
VAT Amount
VAT inclusive price
(а)
(d)
R220
(b)
(c)
(e)
R862.50
R126
(f)
Q.2.2
Mark up on Cost
Profit
Selling price
(Excl VAT).
(f)
Cost Price
(Excl VAT)
(e)
(Excl VAT)_
20%
R40
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education