Task 5 Vat Return Question Help

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mitch1
mitch1 Registered Posts: 5 New contributor 🐸
in General Qualifications 2022 discussion
Can somebody help me calculate the net error in the question below please?

The finance manager has asked Wilma to identify the effect of two errors that he has found in the VAT Return for the quarter end 30 November 2021.

Error 1
A purchase invoice for £24,300 plus VAT of £4,860 has been posted twice.

Error 2
VAT on bad debt relief of £2,750 has been added to Box 1 instead of Box 4.

(ii) Calculate the value of the net error for the previous quarter. Enter your answer to the nearest penny.

Thank you!

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  • anony123
    anony123 Registered Posts: 423 Dedicated contributor 🦉
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    Pass, I just remember the tax processes on the AAT is way easier than the real exam
  • anony123
    anony123 Registered Posts: 423 Dedicated contributor 🦉
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    It maybe 2110
  • anony123
    anony123 Registered Posts: 423 Dedicated contributor 🦉
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    I just removed the net error is the difference between the two
  • anony123
    anony123 Registered Posts: 423 Dedicated contributor 🦉
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    It ain’t that simple. In my original exam I had three.

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