Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A B C D E F G Task 1 (a) - GST Question # Details Bought goods for $3,905 GST inclusive Sold goods for

imageimage 

A B C D E F G Task 1 (a) - GST Question # Details Bought goods for $3,905 GST inclusive Sold goods for $22,726 GST inclusive Sold goods for $1,420 GST exclusive Ex GST answer here GST answer here Including GST GST Coll GST Paid answer here answer here answer here answer here answer here answer here answer here Bought goods for $6,390 GST exclusive. answer here answer here answer here TOTALS 12345678 3 1. 4 II. 5 III. 6 IV. 9 10 11 12 13 GST collected on sales Less GST paid on purchases Equals GST Payable to ATO Task 1 (b) - GST answer here answer here answer here Task 1 a) - GST Karl's Coffee shop has had the following transactions during the Goods and Service Tax (GST) period of March to June 2022. In the TMP Excel spreadsheet calculate the GST paid and the GST collected in each of the following transactions. Use formulas to calculate your answers. In your answers show your calculations. i. Bought goods for $3,905 GST inclusive ii. Sold goods for $22,726 GST inclusive iii. Sold goods for $1,420 plus GST iv. Bought goods for $6,390 plus GST b) Following on from Question 1, for the period March to June 2022, calculate the amount payable to the Australian Taxation Office in the TMP Excel spreadsheet: GST collected on sales Less GST paid on purchases Equals GST Payable to ATO

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Lets work through each part of the question step by step Task 1 a GST For each transaction we need t... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Microeconomics

Authors: Hal R. Varian

9th edition

978-0393123975, 393123979, 393123960, 978-0393919677, 393919676, 978-0393123968

More Books

Students also viewed these Accounting questions

Question

What is the purpose of the journal wizard?

Answered: 1 week ago