Q.3.5 The following information has been provided to you from the books of Beril Traders:...
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Q.3.5 The following information has been provided to you from the books of Beril Traders: Assume all amounts are 15% VAT inclusive. Sales Purchases Telephone Advertising Sales returns Purchases returns R115 000 R86 250 R1 150 R920 R6 900 R3 450 Required: Using the information provided above calculate the VAT payable or refundable. Clearly indicate whether the amount is payable or refundable. (7)
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