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Hiya, I've been working through the Feb 2010 manual 2 paper and I cannot for the life of me work out how they have come up with one of the answers. It's working out a VAT return and what to put in each box. But it's box 7 I'm struggling with....
Total value of purchases and all other inputs excluding any VAT.
Include your box 9 figure
The answer booklet says 10700.00 is the correct answer, but I get 10400.00 (10500-100)
This is all the info the question provides...
sales DB - net 30000 vat 4500 gross 34500
sale returns db - net 750 VAT £112.50 Gross £862.50
PDB - net £10500.00 VAT £1575.00 Gross £12075.00
Purchase Returns Day Book - £100.00 VAT £15.00 Gross £115.00
During the period a bad debt of £345.00 including VAT of £45.00 had been
written off, this debt was 8 months old.
Any ideas????
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