Question
Foxwedge Pty Ltd operates a small business. Foxwedge Pty Ltd accounts for and reports GST on an accrual basis quarterly. During the June quarter the
Foxwedge Pty Ltd operates a small business. Foxwedge Pty Ltd accounts for and reports GST on an accrual basis quarterly. During the June quarter the following transactions occurred.
Required:
Complete the GST Calculation Worksheet for Foxwedge's June quarter BAS.
All amounts include GST where applicable.
Receipts ($)
Sale of goods
200900
Export sales
12150
GST-free sales
5600
Commercial rent received
14600
Sale of printing equipment
19750
Bank interest received
2409
Dividends received
255
Bank loan received
310000
Payments ($)
Salaries and wages
58400
Superannuation
5440
Rent of business premises
15600
General business expenses
33465
Purchase of fax machine
4940
Printing supplies
42520
Interest paid
120
Telephone bill
5260
Drawings
152500
Bank charges
670
Insurance (no stamp duty)
2620
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