problems with Delft simulation
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I am currently studying for my intermediate AAT and I am having difficulties with a simulation in the Financial records & accounts workbook. The company Delft is registered for VAT. Does this mean that I have to account for the VAT (in the journals and double entry) when purchasing the new van and display cabinet. And do I also have to include the VAT in the journal for the disposal of the old van that is part-x'd?<BR><BR>I know in the Branson and company I didnt include the VAT but that was<BR>because it said they couldnt reclaim VAT on company vehicles right?
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