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Thank you for getting back to me, here's the question;
Assignment 3, Task 2
'Given figures below prepare a VAT return.
Where applicable, all figures are exclusive of VAT, VAT numbers have been exchanged and proof of removal has been obtained'
transactions in the UK; Credit sales £122460.00, Cash Sales £36149.20, Credit purchases £41954.40, Cash purchases £6282.00, Credit notes to customers £278.00, Credit notes from suppliers £517.30, Expenses standard rate £29335.00, Expenses zero/exempt £18400.00.
transactions outside of the UK; Imports £8500 and Exports £11284
The VAT return answer reads;
Box 1 31,666.24
Box 2 0
Box 3 31,666.24
Box 4 15,410.82
Box 5 16,255.42
Box 6 166,831
Box 7 106,738
I was correct with my answers for boxes 1 to 5, but 6 & 7 confuse me.
Many thanks, Andrea
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