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Calculate the amount of vat

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Question 1: Complete the following by stating whether the transaction affects input VAT or output VAT , further calculate the amount of VAT @15%. Round to two decimal places.

Transaction

1.Cash sales of inventory for R25 000 excluding VAT

2.Credit sales of inventory for R24 150 including VAT

3. Purchase inventory on credit for R32 200 including VAT

4.Purchase fruit for R280 excluding VAT 5. Purchase stationary for R149.50 including VAT

6.Receive a payment for rental income from a tenant for R6 000 excluding VAT

Reference no: EM132587830

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