I might be winging it here but How I got 1.35: is adding(on your calculator) 30%(markup of the inventory) with 100%(which is the inventory exclusive of VAT, remembering that anything without VAT is 100%). That gives you 1.35 - Then adding 100% with 15% given VAT( remember VAT 'inclusive' is always: GIVEN VAT + 100%'+ 115%. So we are looking for Inclusive VAT) that gives us 1.15
Your explanation is so on point. Thank you for making it so simple.
just made it easy for me to learn ....big up to you sir
So so explanatory thank you so much
very clear👌👌
#you-made-me-LOVE-accounting-big-up-to-COUNTUTS
if the inventory sold for R33 000 included VAT, should you minus the VAT from the R33 000 or leave it as is?
Thank you so much.
Thank you from NorthWest University
thank you so much for this video
I don't how you got that 1.35 and 1.15
I might be winging it here but How I got 1.35: is adding(on your calculator) 30%(markup of the inventory) with 100%(which is the inventory exclusive of VAT, remembering that anything without VAT is 100%). That gives you 1.35 - Then adding 100% with 15% given VAT( remember VAT 'inclusive' is always: GIVEN VAT + 100%'+ 115%. So we are looking for Inclusive VAT) that gives us 1.15
@@MndeniMediaGroup Hi, I still dont get it how you got 1.35, or maybe you said 100+35/100