How to record VAT PAYABLE in the following account equation 1. Purchased stock from Nadiya at cost $400000
2. Purchase return to Nadiya at cost $40000

VAT rate is 10%

Equation is as follows

Capital+ Retain Profit + Trade Creditors + Vat Payable = Inventory + Trade Debtors + Cash

If a bond is issued at a premium the effective interest rate is most likely

Utilization will always be lower than efficiency because: a. effective capacity is greater than design capacityb. expected output is less than actual output.c. effective capacity equals design capacity.d. effective capacity is less than design capacity.e. expected output is less than rated capacity.

If the reserve requirement is 10 percent, what amount of excess reserves does a bank acquire when a business deposits a $500 check drawn on another bank?