1.

The following information relates to Moshi Traders which is registered for Value
Added Tax purposes.

September 1: Purchased goods worth sh. 3258000 from Pendo Traders.

September 3: Sold goods worth sh.1700, 000 to Daima Traders.
September 7: Sold goods worth sh. 1250,000 to Ameko Limited.
September 10: Purchased goods worth sh.2600, 000 from Gito Traders.
September 20: Returned goods costing sh.600000 to Gito Traders.
September 27: Cash sales amounted to sh.800000.
September 30: Paid the following expenses.
Salaries and wages sh.330, 000.
Electricity sh.87000.
Water sh.34000.

All prices are inclusive of VAT at 16%

Determine VAT payable or Refundable to Moshi Traders. (10mks)