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during the quarter ended 30 November 20×6, Bruce sells goods for£456000 exclusive of 17.5 sales tax and purchases goods to a tax inclusive price Of £235188 how much sales tax (to the nearest £) is payable by Bruce in a quarter.
2. At a start of january 20×17 Mikhail Owed the tax authorities £12900, on the 15th ha paid £ 11890 in respect of sales tax,He recorded the following transactions in the month.
sales inclusive of sales tax £ 253800
Purchases exclusive of sales tax £157920.
WHAT IS THE BALANCE OF HIS TAX ACCOUNT AT THE END OF JANUARY456000+tax=gross sale
output tax=79800 (=465k*0.175)
purchases+.175*purchases=235188
purchases=235188/1.175=200160input tax= 235188-200160=35028
tax payable: 79800-35028=44772
At 30 November 2006 the balance on Clare receivable leadger is £37890.clare decided to write off balance totalling £1570.she also calculated that an allowance equivalent to 21/2%of the remaining balance is required.calculate the value of receivable which should be reported to sofp at 30 November 2006?
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