Calculate the VAT and cost of sales for the following business transactions.

Here are the calculations for each transaction: General Information: VAT rate: 15\% Mark-up percentage on cost: 20\% Step 1: Transaction 1 - Purchase of electrical plugs on credit The purchase amount is R38 525 (VAT inclusive). Cost of inventory (VAT exclusive): R38\,5251 + 0.15 = R38\,5251.15 = R33\,500 Input VAT: R38\,525 - R33\,500 = R5\,025 Total amount payable to Tiny Wholesalers: R38 525 Step 2: Transaction 3 - Return of faulty electrical poles The return amount is R31 510 (VAT inclusive). Reduction in inventory cost (VAT exclusive): R31\,5101 + 0.15 = R31\,5101.15 = R27\,400 Reduction in Input VAT: R31\,510 - R27\,400 = R4\,110 Bank refund received: R31 510 Step 3: Transaction 5 - Sale of electrical wires on credit The sales amount is R19 596 (VAT inclusive). Sales revenue (VAT exclusive): R19\,5961 + 0.15 = R19\,5961.15 = R17\,040 Output VAT: R19\,596 - R17\,040 = R2\,556 Cost of sales (using mark-up on cost of 20\%): Sales revenue1 + Mark-up percentage = R17\,0401 + 0.20 = R17\,0401.20 = R14\,200 Total amount receivable from Winny Stores: R19 596 Step 4: Transaction 8 - Cash sale of electrical plugs The sales amount is R10 488 (VAT inclusive). Sales revenue (VAT exclusive): R10\,4881 + 0.15 = R10\,4881.15 = R9\,120 Output VAT: R10\,488 - R9\,120 = R1\,368 Cost of sales (using mark-up on cost of 20\%): Sales revenue1 + Mark-up percentage = R9\,1201 + 0.20 = R9\,1201.20 = R7\,600 Total cash received from Mr Money: R10 488 Step 5: Transaction 9 - Purchase of electrical plugs for cash The purchase amount is R25 990 (VAT inclusive). Cost of inventory (VAT exclusive): R25\,9901 + 0.15 = R25\,9901.15 = R22\,600 Input VAT: R25\,990 - R22\,600 = R3\,390 Total cash paid to Sparky Wholesalers: R25 990 Step 6: Transaction 13 - Sales return from Mitty Stores The sales return amount is R11 340 (VAT exclusive). Output VAT reversal: R11\,340 × 0.15 = R1\,701 Total amount to be credited to Mitty Stores: R11\,340 + R1\,701 = R13\,041 Cost of goods returned (using mark-up on cost of 20\%): Sales return amount1 + Mark-up percentage = R11\,3401 + 0.20 = R11\,3401.20 = R9\,450 Total credit note issued to Mitty Stores: R13 041 Step 7: Transaction 21 - Purchase of electrical equipment on credit The equipment cost is R42 800 (VAT exclusive). Input VAT: R42\,800 × 0.15 = R6\,420 Total amount payable to Lightning Traders: R42\,800 + R6\,420 = R49\,220 Cost of equipment: R42 800 What's next? Send 'em! 📸