Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A manufacturing company, with an annual turnover of $150 million, receives a deposit of $30,000 for goods costing $250,000. The deposit is received on 30

A manufacturing company, with an annual turnover of $150 million, receives a deposit of $30,000 for goods costing $250,000. The deposit is received on 30 June, the goods and tax invoice are delivered in September and the balance of the purchase price will be received in October. In which month GST should be paid?

Select one:

a. October

b. June

c. November

d. September

Step by Step Solution

There are 3 Steps involved in it

Step: 1

The detailed answer for the above question is provid... 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_2

Step: 3

blur-text-image_3

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

Managerial Accounting Decision Making and Performance Management

Authors: Ray Proctor

4th edition

273764489, 978-0273764489

More Books

Students also viewed these Law questions