Question: Mr Smith is an Uber driver registered for GST and the following is his income and expenditures under Ride Source Service for the quarter ended
Mr Smith is an Uber driver registered for GST and the following is his income and expenditures under Ride Source Service for the quarter ended 30th June 2021. All of the below amounts are inclusive of GST if any. Income: $ Uber service Income 45,000 Interest earned 2,200 Expenses Purchase of Water bottle for Passengers -800 Car inspection 145 Accounting Fees 150 Uber Fees & Charges 8,200 Motor Vehicle Fuel 4,500 Motor vehicle Insurance 690 Motor vehicle repairs & Maintenance 1050 Telephone expenses (only 90% is business) 330 Purchase of coffee in between clients 110 Required: Complete the blanks below and calculate the GST applicable for each item rounded up or down to a whole dollar and without any commas or a dollar sign. If no GST is applicable for that item, state 0. Also, complete the blanks below and calculate the amount assessable or deductible for income tax purposes. State the amount for each item rounded up or down to a whole dollar and without any commas or a dollar sign. If no amount is applicable for that item, state 0. Total inclusine of GST GST Amount Income Tax INCOME Uber service Income 45000 0 5092 Interest earned 2200 0 0 TOTAL INCOME 0 5092 EXPENSES Purchase of Water bottle for Passengers 800 80 Car inspection 145 0 Accounting Fees 150 15 Uber Fees & Charges 8200 82 Motor Vehicle Fuel 4500 450 Motor vehicle Insurance 690 0 Motor vehicle repairs & Maintenance 1050 0 Telephone expenses (only 90% is business) 330 29.7 Purchase of coffee in between clients 110 11 TOTAL DEDUCTIONS 667.7 Answer 1: 0 Answer 2: 5092 Answer 3: 0 Answer 4: 0 Answer 5: 0 Answer 6: 5092 Answer 7: 80 Answer 8: (You left this blank) Answer 9: 0 Answer 10: (You left this blank) Answer 11: 15 Answer 12: (You left this blank) Answer 13: 82 Answer 14: (You left this blank) Answer 15: 450 Answer 16: (You left this blank) Answer 17: 0 Answer 18: (You left this blank) Answer 19: 0 Answer 20: (You left this blank) Answer 21: 29.7 Answer 22: (You left this blank) Answer 23: 11 Answer 24: (You left this blank) Answer 25: 667.7 Answer 26: (You left this blank)
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