accounts prep 2

clarlou76
clarlou76 Registered Posts: 11 Regular contributor ⭐
in AAT Level 3 (Level 6 in Scotland)
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!!!

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  • janwal
    janwal Registered Posts: 1,173 Beyond epic contributor 🧙‍♂️
    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
    JasonTurbo Registered Posts: 27 Epic contributor 🐘
    Calculation as follows --> 11712 / 1.2 = 9760
  • clarlou76
    clarlou76 Registered Posts: 11 Regular contributor ⭐
    thanks for your help but failed for the fourth time grrrrrrrrrrr!

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