Tafon
Oct 21, 2009, 11:59 PM
Hi
Please can some one help me out with this:
A trader withdraws goods worth $500 from stock for personal consumption. The replacement value of the goods is $502. Value Added Tax is charged at 19.25%.
How will this transaction be recorded in the journal of the trader?
Please can some one help me out with this:
A trader withdraws goods worth $500 from stock for personal consumption. The replacement value of the goods is $502. Value Added Tax is charged at 19.25%.
How will this transaction be recorded in the journal of the trader?