Calculate the amount payable (VAT inclusive) if inventory for the amount of R8 850 (VAT exclusive) was purchased by a business registered as a VAT vendor. The applicable VAT rate is 15%:

NB: Instructions

1. Do not type the amount with any spaces as separators for thousands (eg: 10650)

2. Use a full-stop to indicate any decimals (eg: 1000.01)

3. Only show the amount, do not show the R (eg: 12141.72)

Calculate the VAT amount that is included in the invoice price if equipment for the amount of R12 141.72 (VAT inclusive) were purchased. The applicable VAT rate is 15%:

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. Only show the amount, do not show the R (eg: 12141.72)

Calculate the VAT amount that should be added to the invoice price if inventory for the amount of R23 684.21 (VAT exclusive) were purchased. The applicable VAT rate is 15%:

NB: Instructions

1. Do not type the amount with any spaces as separators for thousands (eg: 10650)

2. Use a full-stop to indicate any decimals (eg: 1000.01)

3. Only show the amount, do not show the R (eg: 12141.72)

Reflection is a very important part of learning and gaining understanding. At university level, we will expect of our students to start using critical thinking skills, one of which is reflecting on what you have learnt and another is to honestly assess what you still do not understand.

In order to answer this question, you need to write a post on your own learning of this learning unit. Here is some questions that could guide you with writing your answer:

1. What did you learn in Learning Unit 3?

2. How did the content you studied in Learning Unit 3 built on the knowledge you obtained through Learning Unit 2?

3. What aspects of Learning Unit 3 did you struggle with?

4. Are there any content that you did not agree with?

5. Are there any examples from your own life that relates to some of the content we explained? (Think about opening your own business, managing your bursary or NSFAS funding etc.)

On 8 December 2024, Africa Traders did a cash payment of R5 500 to SA Photocopiers, for the repair of a photocopier. Africa Traders is not a registered VAT vendor.

Which account will be debited, and which account will be credited in the general ledger of Africa Traders?