Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

BSBFIN601AP - You have established a new business known as Ice Cream Delights. You have developed a new type of ice cream and have received

BSBFIN601AP - You have established a new business known as Ice Cream Delights. You have developed a new type of ice cream and have received sales orders, for the next three months, from major supermarkets, valued at $81,000. You have not yet supplied any ice cream to any business. You are not sure of your responsibilities with respect to the goods and services tax. A Does Ice Cream Delights have to register for GST? Explain why. Word limit: 20 to 50 words. B If the expected sale of Ice Cream Delights are $250,000 per annum, how often each year will this business report and pay GST to the Australian Taxation Office? Word limit: 20 to 50 words. Question 2 A) How often each year does the Australian Taxation Office usually require a business to send it PAYG payments? Word limit: 50 words. B) How often each year must superannuation be paid into the fund nominated by an employee? Word limit: 50 words. Question 3 A supermarket has the following procedures in place for the handling and recording of cash: The chief casher collects the money received from customers from the other cashiers and is responsible for recording in the accounting

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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

Advanced Accounting

Authors: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupnik

14th Edition

1260247821, 978-1260247824

More Books

Students also viewed these Accounting questions

Question

Mortality rate

Answered: 1 week ago

Question

Armed conflicts.

Answered: 1 week ago