Miss Daisy Lilly Rose runs a florist which sells a variety of specialised plants and housewares.

For the quarter ended 30 June 2020 Miss Rose has the following sales (inclusive of GST):

                                                                                                                                            $

Sales of flowers and plants                                                                               154,000
Sales of housewares                                                                                              8,900
Expenses (exclusive of GST)
Purchase of fresh flowers                                                                                   33,300
Purchase of housewares                                                                                    21,500
Purchase of new computer for the business                                                     5,400
Wages to part-time staff                                                                                          7,000
Interest on loan used to purchase new computer                                                390
Telephone expenses                                                                                              1,500

Required:

Calculate Miss Rose’s GST payable or refundable for the quarter. Miss Rose also had a commercial property from which she received rent of $10,000, exclusive of GST and paid management fees of $1,100 and repairs of $550, both of which included GST for the quarter.

Answer rating: 100% (QA)

Sale is inclusive of GST Sale of flowers 154000 Sale of housewares 8900 Less Expenses inclusive of ... View the full answer