Q3 Question 3(Marks: 10)Q.3.1 I am a small VAT-registered vendor running a hardware store in my local suburb. Ibought an attachment for our paint mixing machine from Hardware Centre whichsupplies equipment and parts to the hardware trade. Hardware Centre are alsoregistered for VAT. I paid R 5 800 from my business debit card and received thecash till slip from Hardware Centre's cash register.Q.3.1.1 Would this till slip be sufficient to be considered a valid sourcedocument to enable SARS to allow me an input VAT claim assuming thepaint mixing attachment fell into a claimable VAT category?Q.3.1.2 What would distinguish this till slip from a full tax invoice?The Independent Institute of Education (Pty) Ltd 2024€X(2)Dana 2 ota(2)

Step-by-Step Explanation for Q.3.1.1 and Q.3.1.2 Q.3.1.1: Would this till slip be sufficient to be…

Answered: Question 3 (Marks: 10) Q.3.1 I am a…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter7: Accounting Information Systems

Section: Chapter Questions

Problem 13MC: Received a check for $72 from a customer, Mr. White. Mr. White owed you $124. Which journal would...

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Scenario 2: • Copy of vendor invoice # 4412 for $27,000 received on March 3 showing terms of net 30 • Payment voucher with the vendor name and amount due . • Copy of the remittance advice sent to the vendor showing # 4412 included in the payment to the vendor made on March 28 1. Would you enter accounting transactions? 2. If so, what accounting entries would you make? (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List debit entry before credit entry. If no entry is required, select "No Entry" for the account titles and enter o for the amounts. List debit entry before credit entry.) Date Account Titles and Explanation Debit Credit I
Question 2 Record the following transactions in the cash receipts journal. Jun. 12 Your company received payment in full from Jolie Inc. in the amount of RO1,225 for merchandise purchased on June 4 for RO1,250, invoice number No.1032. Jolie Inc. was offered terms of 2/10, n/30. Record the payment. Jun. 15 Portman Inc. mailed you a check for RO2500. The company paid for invoice No.1027, dated June 1, in the amount of RO2,500, terms offered 3/10, n/30. Jun. 17 Your company received a refund check (its check No.12440) from the State Power Company because you overpaid your electric bill. The check was in the amount of RO72. The Utility Expense account number is No.450. Record receipt of the refund.
please quickly i just need answer thanks ! 7.A customer buys undeemed consumer cards worth 300$. For the sellor, the 300$ is the A, None of the above B. Prepaid expense C. Unearned revenue D, Accrued Revenue
Make a journal entry for this transaction.
Sh25
Quesiotn attached thanks for the help 1l3pt13pg13lpg41lhp2oth2tpoh2 arg leol
2 A home-entertainment store sells high-end equipment ($5,000 and up). Orders are written up, then taken to the back office with the customer’s credit card. What specific procedures should the store use to examine the credit card?
question 5 attached in ss below thanks for help requoremtins haoirwhnawoihtwnh o2tihn2t h
1. Suppose a hotel purchases P50,000 computer to be used in the operations on credit from a supplier. The journal entry should be: A. Account to be debited: Computer; Account to be credited: Accounts Payable B. Account to be debited: Accounts Receivable; Account to be credited: Computer C. Account to be debited: Purchases; Account to be credited: Accounts Payable D. Account to be debited: Purchases; Account to be credited: Accounts Receivable 2. Suppose Mr. Chan lends P500,000 cash to the entity. At the same time, the entity uses part of the money to repay the amount owed to a creditor and holds the remaining amount of P400,000 in the bank account. the journal entry should be: A. Account(s) to be debited: Cash, P500,000, Bank, P400,000; Account(s) to be credited: Accounts payable, P900,000 B. Account(s) to be debited: Cash, P100,000, Bank, P400,000; Account(s) to be credited: Loan from Mr. Chan, P500,000 C. Account(s) to be debited: Cash,…
3 Broadmor Industries collected $7,500 from a customer on account. What journal entry will be prepared by Broadmor to record this transaction? Multiple Choice Debit Cash and credit Accounts Receivable. Debit Cash and credit Service Revenue. Debit Accounts Receivable and credit Service Revenue. Debit Accounts Receivable and credit Cash.
(37) On March 23, goods were sold for $10,000. Cash of $8,000 was received, and the $2,000 remainder was on account. The customer returned the goods before paying any of the remaining $2,000 on account. Which debit or credit should be included in the journal entry on the seller's books to record the return of the goods? O Credit accounts receivable for $2,000. ○ Credit cash for $10,000. Debit accounts receivable for $10,000. Credit sales returns and allowances for $10,000. ធ
Next Question Find the total amount of the credit-card sales on the record for the date 09/24/10. 24/10 Sales Refunds $72.29 $488.57 The total of the credit-card sales for 09/24/10 is $ $72.37 $91.62 $180.47 $184.67 $52.32 $91.41 $75.09 $291.95 $135.36 $126.67 $258.07

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