All categories

2 years ago

What is VAT number?why we need this?

Business

2 answers:

mina [271]2 years ago

7 0

Answer:

what is a vat

Explanation:

lions [1.4K]2 years ago

4 0

A VAT number – or VAT registration number – is a unique code issued to companies which are registered to pay VAT. Businesses can find their own number on the VAT registration certificate issued by HMRC, while the numbers for other businesses should be stated on any invoice they issue.

You might be interested in

Use the following selected date and additional information from the records of Hitchcock Corporation to answer the question that

yawa3891 [41]

Answer:

$35,000

Explanation:

Requirement: Prepare the Operating Activities section of the Statement of Cash Flows for the year ended 2004. Use the INDIRECT Method

Cash from Operating Activities

Particulars Amount$

Net income 6000

Add: Depreciation expense 50000

Operating Cash Flow before 56000

Change in Working Capital

Add:

Decrease in inventory 3000

Increase in incomes taxes payable 7000 10000

Less:

Increase in accounts receivable 10000

Increase in prepaid Rent 8000

Decrease in accounts payable 7000

Decrease in salaries payable 6000 -31000

Cash from Operating Activities $35000

5 0

3 years ago

Engineworks Co. provides the following fixed budget data for the year: Sales (20,000 units) ……………………………. $600,000 Cost of sale

marysya [2.9K]

Answer:

Flexible Contribution Margin 147,000

Actual Contribution Margin 139,000

Variance 8000 unfavorable

Explanation:

Engine Works Company

Flexible Budget Performance Report

For the year using the Contribution Margin Format

Actual Static Flexible

(21,000 units) (20,000 units) (21,000 units)

Sales …$651,000 $600,00 630,000 Fav

V. Cost of goods sold: 512,000 $ 460,000 483,000 Unfav

Direct materials .$231,000 $200,000 210,000

Direct labor 168,000 160,000 168,000

Variable overhead 73,500 60,000 63,000

Variable Operating Expenses 39,500 40,000 42,000

Contribution Margin $139,000 140,000 147,000 Unfav

Fixed Expenses

Fixed Operating Expenses 12,000 12000 12000

Fixed overhead 77,500 80,000 84,000

Income from operations $ 49,500 $ 48,000 $51,000 Fav

Working

Flexible Calculations = (600,000/20,000)*21,000= $ 630,000

V. Cost of goods sold= ($ 460,000 /20,000)*21,000= 483,000

Direct materials . = $200,000 /20,000)*21,000= 210,000

Direct labor = 160,000/20,000)*21,000= 168,000

Variable overhead = 60,000 /20,000)*21,000= 63,000

Variable Operating Expenses = 40,000 /20,000)*21,000= 42,000

All calculations are carried out in the same way. Dividing the amount in the given budget with the number of units and multiplying it with actual number of units.

Flexible Contribution Margin 147,000 and Actual Contribution Margin 139,000 which shows a Variance of 8000 which is unfavorable.

4 0

3 years ago

Worldwide Minerals Inc. wants to expand into the international market. It does not want to spend a very large amount of money fo

slavikrds [6]

Answer: Option A

Explanation: In simple words, joint ventures refers to the business arrangement under which two or more independent parties join their operation for the purpose of doing business more effectively.

Worldwide can go for joint venture as it would be less costly then mergers and acquisitions since they have to buy a part of the entity also they can control the entity as per their share in it.

8 0

3 years ago

Barnes Corporation purchased 75 percent of Noblesâ€™ common stock for $262,500, which was acquired at book value. The fair value

Wittaler [7]

Solution:

Barnes Corporation purchased 75 percent of Nobles’ common stock

During the year, Nobles reports net income of $40,000.

Hence, 75% of net income of Nobbles is attributable to Barnes Corporation.

Barnes reports for income from subsidiary prior to consolidation

= 40,000 x 75%

= $30,000

3 0

3 years ago

Draw a graph which depicts long run equilibrium of transnet

Nookie1986 [14]

I will not be able to illustrate the graph in the dialog box but instead, the writer will describe the long-run equilibrium of transnet. Long-run equilibrium in economics focuses on the period of time where the resource is still available and what is its costs and quantity produced.

8 0

3 years ago