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Question 20.1:To show the VAT-control account in the general ledger of Spiga Ltd. on 30 September 20X8, we need to calculate the amount receivable from customers and add it to the opening balance.Opening Balance: R20,000 (from previous year) + R15,000 (VAT at 15%) = R35,000Transactions during the year:* Sales of inventory: R386,400 x 15% = R58,000* Payments from debtors: R376,200 - R58,000 = R318,200Closing Balance: R35,000 + R318,200 = R353,200Therefore, the VAT-control account in the general ledger of Spiga Ltd. on 30 September 20X8 is:VAT-control Account: R353,200Question 20.2:To calculate the balance of the Creditors' control account as it will appear in the financial statements of Compu Pro on 30 September 20X8, we need to add the opening balance to the transactions that occurred during the year.Opening Balance: R50,000 + R15,000 (VAT at 15%) = R65,000Transactions during the year:* Sales of laptops: R1,150,000 x 15% = R167,500* Purchases of laptops: R200,000 x 15% = R30,000* Return of defective laptops to Easylink: R200,000 x 15% = R30,000Closing Balance: R65,000 + R167,500 - R30,000 = R92,500Therefore, the Creditors' control account in the general ledger of Compu Pro on 30 September 20X8 is:Creditors' Control Account: R92,500
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VAT-control account
general ledger
control account
Creditors' control
account
Compu Pro
September
Balance
Spiga
General
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