QUESTION 2 2.1 Blue Ridge (Pty) Ltd manufactured inventories at a cost of R8 000 (VAT excluded). The inventories were sold for R11 000 (VAT excluded). If all inventory sales qualify as standard-rated supplies, determine the net VAT due to/ (refundable by) SARS. 2.2 Blue Ridge (Pty) Ltd manufactured inventories at a cost of R8 000 (VAT included). The inventories were sold for R11000 (VAT included). If all inventory sales qualify as zero-rated supplies determine the net VAT due to (refundable by) SARS. 2.3 Blue Ridge (Pty) Ltd manufactured inventories at a cost of R8 000 (VAT included). The inventories were sold for R11 000. If all inventory sales are exempt supplies for VAT purposes, determine the net VAT due to/ (refundable by) SARS. (15 Marks) (5 Marks) (5 Marks) (5 Marks)
QUESTION 2 2.1 Blue Ridge (Pty) Ltd manufactured inventories at a cost of R8 000 (VAT excluded). The inventories were sold for R11 000 (VAT excluded). If all inventory sales qualify as standard-rated supplies, determine the net VAT due to/ (refundable by) SARS. 2.2 Blue Ridge (Pty) Ltd manufactured inventories at a cost of R8 000 (VAT included). The inventories were sold for R11000 (VAT included). If all inventory sales qualify as zero-rated supplies determine the net VAT due to (refundable by) SARS. 2.3 Blue Ridge (Pty) Ltd manufactured inventories at a cost of R8 000 (VAT included). The inventories were sold for R11 000. If all inventory sales are exempt supplies for VAT purposes, determine the net VAT due to/ (refundable by) SARS. (15 Marks) (5 Marks) (5 Marks) (5 Marks)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:QUESTION 2
2.1 Blue Ridge (Pty) Ltd manufactured inventories at a cost of R8 000 (VAT excluded). The inventories were
sold for R11 000 (VAT excluded). If all inventory sales qualify as standard-rated supplies, determine the net
VAT due to/ (refundable by) SARS.
2.2 Blue Ridge (Pty) Ltd manufactured inventories at a cost of R8 000 (VAT included). The inventories were
sold for R11000 (VAT included). If all inventory sales qualify as zero-rated supplies determine the net VAT
due to (refundable by) SARS.
2.3 Blue Ridge (Pty) Ltd manufactured inventories at a cost of R8 000 (VAT included). The inventories were
sold for R11 000. If all inventory sales are exempt supplies for VAT purposes, determine the net VAT due to/
(refundable by) SARS.
(15 Marks)
(5 Marks)
(5 Marks)
(5 Marks)
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