This accounting problem is solved step by step below, with detailed explanations to help you understand the method and arrive at the correct answer.
ScanSolve AI Answer
Step 1: Identify the given price and the standard VAT rate. The cost of the camera excluding VAT is R11 499. The standard VAT rate in South Africa is 15\%. Step 2: Calculate the VAT amount. To find the VAT amount, multiply the price excluding VAT by the VAT rate. VAT amount = R11\,499 × 15\% VAT amount = R11\,499 × (15)/(100) VAT amount = R11\,499 × 0.15 VAT amount = R1\,724.85 Step 3: Calculate the VAT-inclusive price. Add the VAT amount to the price excluding VAT. VAT-inclusive price = Price excluding VAT + VAT amount VAT-inclusive price = R11\,499 + R1\,724.85 VAT-inclusive price = R13\,223.85 The VAT-inclusive price of the camera is R13 223.85. R13\,223.85 Send me the next one 📸