The entries in the sales ledger and purchases ledger of Jamaa traders for the months of March and April 2008 were as follows:- Any value added...

      

The entries in the sales ledger and purchases ledger of Jamaa traders for the months of March and April 2008 were as follows:-
Any value added tax (VAT) due to the tax authorities is remitted by Jamaa Traders on the Interest date specified in the VAT Act (Cap 476).
Note: Entries in the ledger accounts were exclusive of VAT. The standard rate of VAT is 16%
jam11522019141.png

Determine A VAT account showing separately the VAT payable (or refundable) for the months of March and April 2008

  

Answers


Wilfred
jam21522019143.png
Wilfykil answered the question on February 15, 2019 at 09:46


Next: Distinguish between 'cost allocation' and 'cost absorption
Previous: With reference to the customs and Excise Act (Cap, 272), distinguish between the following terms i) Customs warehouse and bonded warehouse ii) Prohibited goods and restricted goods

View More CPA Taxation Questions and Answers | Return to Questions Index


Exams With Marking Schemes

Related Questions