Calculate net VAT due to or refundable by SARS given the following information: 2.1 Sales of R10 000 (vat inclusive, purchases of R7 000 (vat inclusive) 2.2 Sales of R10 000 (zero rated), purchases of R7 000 (zero rated) 2.3 Sales of R10 000 (exempt supply), purchases of R7000 (incurred to make exempt supplies

Calculate net VAT due to or refundable by SARS given the following information: 2.1 Sales of R10 000 (vat inclusive, purchases of R7 000 (vat inclusive) 2.2 Sales of R10 000 (zero rated), purchases of R7 000 (zero rated) 2.3 Sales of R10 000 (exempt supply), purchases of R7000 (incurred to make exempt supplies

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter10: Accounting For Sales And Cash Receipts

Section: Chapter Questions

Problem 3MC

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