megan was invoiced for $100 less 5% trade discount and settlement discount of 2.5%.Megan's supplier is not VAT registered. if megan pays the invoice later,how much will she pay?
A 92.50
B 92.63
C 95
D 97.50
A 92.50
B 92.63
C 95
D 97.50
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FAtax question
ken sold an item of $200 offering a trade discount of 5%. if the term is net 60, 3/07 the total amount received from customer should be ___________ is paid within 7 days.
A $222.25
B $235
C $216.55
D $200.00
A $222.25
B $235
C $216.55
D $200.00
ben sold an item of $100 offering trade discount of 10% if the term is net 30/2/07 the total amount inclusive of VAT is
A $105.75
B $105.43
C $117.50
D $115.15
A $105.75
B $105.43
C $117.50
D $115.15
DAMN! I forgot the rule of VAT. If it is inclusive, make the percentage 110% and then do the thing with date to find out the price....Try it.
i try it cannot get the answer.
Tell me the rules again. Maybe I am able to do it then. VAT rules
i only learn this
dr purchase net amount
dr sales tax net amount
cr payable gross amount
dr receiveable/cash gross amt
cr sales tax net amt
cr sales net amt.
what is vat rules?
17.5%?
dr purchase net amount
dr sales tax net amount
cr payable gross amount
dr receiveable/cash gross amt
cr sales tax net amt
cr sales net amt.
what is vat rules?
17.5%?
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