Complete the table using the information provided and assume a VAT rate of 15%: VAT EXCLUSIVE PRICE VAT AMOUNT VAT INCLUSIVE PRICE R280 a b c d R862.50 e R126 f
Complete the table using the information provided and assume a VAT rate of 15%: VAT EXCLUSIVE PRICE VAT AMOUNT VAT INCLUSIVE PRICE R280 a b c d R862.50 e R126 f
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Complete the table using the information provided and assume a VAT rate of 15%:
VAT EXCLUSIVE PRICE | VAT AMOUNT | VAT INCLUSIVE PRICE |
R280 | a | b |
c | d | R862.50 |
e | R126 | f |
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The VAT is the value added tax collected by sellers from the customer and is paid to government.
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