Task 5 Vat Return Question Help
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mitch1
Registered Posts: 5 New contributor ๐ธ
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 ยฃ24,300 plus VAT of ยฃ4,860 has been posted twice.
Error 2
VAT on bad debt relief of ยฃ2,750 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!
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 ยฃ24,300 plus VAT of ยฃ4,860 has been posted twice.
Error 2
VAT on bad debt relief of ยฃ2,750 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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Answers
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Pass, I just remember the tax processes on the AAT is way easier than the real exam0
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It maybe 21100
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I just removed the net error is the difference between the two0
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It ainโt that simple. In my original exam I had three.0
