Complete the GST Calculation Worksheet for Foxwedge's June quarter BAS. All amounts include GST where applicable. Receipts
Question:
Complete the GST Calculation Worksheet for Foxwedge's June quarter BAS.
All amounts include GST where applicable.
Receipts ($) | |
Sale of goods | 201700 |
Export sales | 11750 |
GST-free sales | 5300 |
Commercial rent received | 14500 |
Sale of printing equipment | 21500 |
Bank interest received | 2309 |
Dividends received | 270 |
Bank loan received | 310000 |
Payments ($) | |
Salaries and wages | 58200 |
Superannuation | 5340 |
Rent of business premises | 14200 |
General business expenses | 33715 |
Purchase of fax machine | 5240 |
Printing supplies | 43370 |
Interest paid | 140 |
Telephone bill | 5460 |
Drawings | 150000 |
Bank charges | 620 |
Insurance (no stamp duty) | 2620 |
GST Calculation Worksheet for Foxwedge Pty Ltd, June quarter BAS:
GST amounts you owe the Tax Office from sales ($) | ||
G1 | Total sales (including any GST) | |
G2 | Export sales | |
G3 | Other GST-free sales | |
G4 | Input taxed sales | |
G5 | G2 + G3 + G4 | |
G6 | Total sales subject to GST (G1 minus G5) | |
G7 | Adjustments (if applicable) | |
G8 | Total sales subject to GST after adjustments (G6 + G7) | |
G9 | GST on sales (G8 divided by eleven) | |
GST amounts the Tax Office owes you from purchases ($) | ||
G10 | Capital purchases (including any GST) | |
G11 | Non-capital purchases (including any GST) | |
G12 | G10 + G11 | |
G13 | Purchases for making input taxed sales | |
G14 | Purchases without GST in the price | |
G15 |
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill