Calculate GST amounts you owe the Tax Office from sales: G1 Total sales (including and GST)=$ G2
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Question:
G1 Total sales (including and GST)=$
G2 Export sales =$
G3 Other GST-free sales =$
G4 Input taxed sales=
G5=
G2 + G3 + G4 =
G6 Total sales subject to GST(G1 minis 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=
Estimated purchases for private use or not income tax deductible
G16
G13 + G14 + G15=
G17=
Total purchases subject to GST (G12 minus G16)
G18=
Adjustments (if applicable)
G19 Total purchases subject to GST after adjustments (G17 + G18 )= $
G20 GST on purchases (G19 divided by eleven) = $
Related Book For
Fundamental Managerial Accounting Concepts
ISBN: 978-0078110894
6th Edition
Authors: Edmonds, Tsay, olds
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