Business registered as 15% vat. They use perpetual inventory systems and all goods mark up at 20% above cost, before taking into account any trade discount. Prepare a cashbook payment and cashbook receipts Owner contributed R5 000 cash Cash sales R13 800 including vat Cash purchases R8 000 excluding vat Paid telkom for telephone account R345 Paid R2 000 towards a loan settlement with mzansi bank Cash sales R5 750 including vat Cash purchases R4 600 including vat Paid wages R800
Business registered as 15% vat. They use perpetual inventory systems and all goods mark up at 20% above cost, before taking into account any trade discount. Prepare a cashbook payment and cashbook receipts Owner contributed R5 000 cash Cash sales R13 800 including vat Cash purchases R8 000 excluding vat Paid telkom for telephone account R345 Paid R2 000 towards a loan settlement with mzansi bank Cash sales R5 750 including vat Cash purchases R4 600 including vat Paid wages R800
Chapter6: Merchandising Transactions
Section: Chapter Questions
Problem 14MC: A customer pays on credit for $1,250 worth of merchandise, terms 4/15, n/30. If the customer pays...
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Business registered as 15% vat. They use perpetual inventory systems and all goods mark up at 20% above cost, before taking into account any trade discount. Prepare a cashbook payment and cashbook receipts
Owner contributed R5 000 cash
Cash sales R13 800 including vat
Cash purchases R8 000 excluding vat
Paid telkom for telephone account R345
Paid R2 000 towards a loan settlement with mzansi bank
Cash sales R5 750 including vat
Cash purchases R4 600 including vat
Paid wages R800
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