FAC1501-25-S1
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On 1 February 2025, B Botha a sole proprietor opened a computer shop, Botha Computing. The entity is registered as a VAT vendor and the applicable VAT rate is 15%. The perpetual inventory system and control accounts are in use. On 10 February 2025, Botha computing issued invoice number 0012 for services rendered for R1 845 (VAT inclusive) and received the full amount through a debit card payment.
Required:
Complete the source document provided below based on the information for the transaction provided.
Instructions for numeric responses:
1. Use a full stop to indicate any decimals (eg: 1000.01)
2. Round off to the second decimal after the full stop (eg: 50.56)
3. If any of the numerical responses should be zero, please enter "0" in the block provided
Duplicate cash sales invoice
BOTHA COMPUTING
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399 Hope Drive
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P O Box 392
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PRETORIA
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VAT registration number
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PRETORIA 0001
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Tel (012) 429–3111
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8960225750
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Fax (012) 429–3424
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Date: 10 February 2025
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TAX INVOICE
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No: 0012
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To: Cash
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Payment method
Internet banking/debit card
Cash
Credit card
Account
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Code
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Description
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Qty
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Total price
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R
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SR001
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Repair of Laptop
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2 hours
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VAT @ 15%
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Invoice total
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Amount tendered
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Change
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VAT included @ 15%
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E & OE
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Mr S Africa is the owner of SA Traders. On 31 March 2024, the following list of balances was extracted from the accounting records of SA Traders:
- Computer equipment - R337 480
- Trade receivables - R64 960
- Short-term loan - R112 490
- Prepaid expenses - R11 830
- Favourable bank balance - R31 943
Determine the net worth of SA Traders as at 31 March 2024 by making use of the basic accounting equation.
NB: Instructions
1. Do not type the amount with any spaces as separators for thousands (eg: 12141.72)
2. Use a full stop to indicate any decimals (eg: 1000.01)
3. You must enter cents even if it is 0 (eg .00)
4. Only show the amount, do not show the R (eg: 12141.72)
5. If the net effect on the accounting equation is a decrease, please enter the amount as a negative (eg: -12141.72)
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