-Indirect taxes cannot be evaded as payment is made with purchases
-They stimulate effects as people shift to maintain their living standards
-They are more broad based (cover more people)
-They are cheaper to administer
-Indirect taxes are more equitable since all consumer tend to pay an equal amount per unit consumed.
Kavungya answered the question on September 25, 2019 at 08:47
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Additional information
(i)Closing stock was valued at sh.72,000
(ii)Telephone charges prepaid shs.1100
(iii)Outstanding water...(Solved)
The following balances were obtained from the books of Nakhulo Traders on 31st Dec 2011
Additional information
(i)Closing stock was valued at sh.72,000
(ii)Telephone charges prepaid shs.1100
(iii)Outstanding water bill shs. 1300
(iv)Depreciation on equipment is 10% on cost carried inwards shs.11,000, carried outwards shs.10,000
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Additional information;
(i)Stock as at 31st December 2011 shs 52,000
(ii)Rent...(Solved)
The following trial balance was extracted from the books of Bumala traders on 31st Dec 2011
Additional information;
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(ii)Rent accrued shs. 6,000
(iii)Insurance paid in advanced sh.4,000
(iv)Commission due shs.5,000
(v)Salaries along shs.21,000
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(b)Balance sheet as at that date
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Buildings sh 200,000, Debtors sh 8,000, creditors sh 32,000, stock sh24,000,...(Solved)
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During the month of April 2005 the following transactions took place
April 1 – sold goods worth sh 2100 cash
2 – Paid creditors sh 8000 cash
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