Frederic owns a bookstore in Collins Street, Melbourne. Frederic is registered for GST. His records for the quarter ending 30 June 2021 are as follows:

Cash Receipts	$
Gross Receipts from Book Sales	$77,000
Interest Income from Term Deposit	$1,200
Gross proceeds from Sale of Bookcase (See Note A)	$1,900
Cash Payments	$
Purchases of Books	$11,000
Purchase of Bookcase (See Note A)	$5,500
Commercial Rent paid for the bookstore	$11,000
Electricity paid for the bookstore	$1,500
Tea and Coffee Supplies for kitchenette in bookstore	$150

Additional Information

• A bookcase that was used in the bookstore was replaced in May 2021.
• Where applicable, figures are GST inclusive.
• Valid tax invoices are held for all relevant payments.
• Frederic accounts for GST on a cash basis and lodges quarterly business activity statements.
• Frederic employs two part time staff.

REQUIRED:

1. Complete the GST calculation worksheet for BAS available here (https://www.ato.gov.au/assets/0/104/694/815/68f311eb-9d6a-4367-8ea5-3dbb52fb859e.pdf) and upload with your submission (9 marks).

2. Determine the net GST payable (refundable) to the ATO by completing the following summary taken from the business activity statement (2 marks):

Amounts you owe the ATO		Amounts the ATO owes you
GST on sales or GST instalment 1A $	[Input]	GST on purchases 1B $	[Input]
9 Your payment or refund amounts $			[Input]