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Based on the provided till slip image, answer the following questions: 2.1 What payment method did Jane use? 2.2 How much would 1 litre of sunflower oil cost? 2.3 Which items are zero-rated for VAT? 2
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6 stepsHere are the solutions to the questions based on the till slip:
1.2.1
Locate the payment information on the till slip.
The till slip states "EFT credit card payment R217,28".
Jane paid for her shopping using an .1.2.2
Find the price of Sunflower Oil on the till slip.
The till slip shows "Sunflower Oil 250ml R14,99".
Determine the quantity needed for 1 litre.
Since , and the oil is sold in quantities:
So, is equivalent to quantities.
Calculate the total cost for 1 litre.
She will have paid for buying 1 litre quantity of oil.
1.2.3
Observe the "Tax Code" section on the till slip.
The till slip has a line "Zero VAT R32,97 R0,00". This indicates that some items are exempt from VAT or have a zero-rated VAT.
The items marked with an asterisk (*) are . This means no Value Added Tax is charged on these specific items.1.2.4
Identify the relevant values for VAT calculation from the till slip.
The till slip shows:
- VAT Taxable amount = R160,27
- VAT Tax Value (calculated VAT on slip)
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