
INTERMEDIATE ACCT.(LL)-W/WILEYPLUS
17th Edition
ISBN: 9781119598572
Author: Kieso
Publisher: WILEY
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The following VAT balances were extracted from the subsidiary journals of Africa Traders as at 28 February 2024.
R
Cash receipts journal
VAT input
556,50
VAT output
14 676,48
Cash payments journal
VAT input
9 375,12
VAT output
642,78
Purchases journal
VAT
6 260,40
Sales journal
VAT
8 037,12
Purchases returns journal
VAT
871,75
Sales returns journal
VAT
902,32
On 1 February 2024, the VAT input account had a debit opening balance of R14 768 and the VAT output account had a credit opening balance of R14 154.
Calculate the closing balance of the VAT output account as at 28 February 2024
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