Q.3.2 The following information has been taken from the books of Lobelia Traders, a general trading shop in Braamfontein, for the month of April 2020: Lobelia Traders is a registered VAT vendor and trades only with registered VAT Vendors. The business charges 15% VAT on all its sales. TRANSACTION JOURNAL AMOUNT AMOUNT VAT EXCLUDING AMOUNT INCLUDING VAT VAT Cash sales CBR 35 000 A Advertising СВР D 920 paid Goods СВР E 750 F purchased for cash Drawings of GJ 500 G H Petty Cash Credit sales DJ 1 200
Q.3.2 The following information has been taken from the books of Lobelia Traders, a general trading shop in Braamfontein, for the month of April 2020: Lobelia Traders is a registered VAT vendor and trades only with registered VAT Vendors. The business charges 15% VAT on all its sales. TRANSACTION JOURNAL AMOUNT AMOUNT VAT EXCLUDING AMOUNT INCLUDING VAT VAT Cash sales CBR 35 000 A Advertising СВР D 920 paid Goods СВР E 750 F purchased for cash Drawings of GJ 500 G H Petty Cash Credit sales DJ 1 200
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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