accounts prep 2

clarlou76

can someone please help me with the workings out of this?

the bank summary shows general expenses of £11,712 including vat at 20%

calculate the general expenses net of vat??

calculate the vat on general expenses??

thanks have a total mind block on this!!!

janwal

clarlou76 wrote: »

can someone please help me with the workings out of this?

the bank summary shows general expenses of £11,712 including vat at 20%

calculate the general expenses net of vat??

calculate the vat on general expenses??

thanks have a total mind block on this!!!

Vat fraction: 11712 x 1 / 6 = 1952

11712 - 1952 = 9760

Hope this helps

Jan

JasonTurbo

Calculation as follows --> 11712 / 1.2 = 9760

clarlou76

thanks for your help but failed for the fourth time grrrrrrrrrrr!