John has the following transactions for the month of February 2019. All figures include GST where...
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John has the following transactions for the month of February 2019. All figures include GST where applicable: Purchases on credit 38,300 Cash purchases 9,400 Payments to accounts payable suppliers 18.400 Cash sales 46,500 Cash collected from accounts receivable customers 37,900 Credit sales 87,200 Operating expenses paid (all including GST) Wages paid to employees 17,200 6.900 Calculate the net GST payable to the ATO for the month: (a) if the taxpayer uses the cash basis (b) If the taxpayer uses the accruals basis John has the following transactions for the month of February 2019. All figures include GST where applicable: Purchases on credit 38,300 Cash purchases 9,400 Payments to accounts payable suppliers 18.400 Cash sales 46,500 Cash collected from accounts receivable customers 37,900 Credit sales 87,200 Operating expenses paid (all including GST) Wages paid to employees 17,200 6.900 Calculate the net GST payable to the ATO for the month: (a) if the taxpayer uses the cash basis (b) If the taxpayer uses the accruals basis
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Related Book For
Fundamental Financial Accounting Concepts
ISBN: 978-0078025907
9th edition
Authors: Thomas Edmonds, Christopher Edmonds
Posted Date:
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