Question
July August September Budgeted cash receipts incurring GST: Cash sales 20,000 10,000 10,000 Cash revenue (besides sales) 0 0 0 Cash receipts from sale of
July
August
September
Budgeted cash receipts incurring GST:
Cash sales
20,000
10,000
10,000
Cash revenue (besides sales)
0
0
0
Cash receipts from sale of assets (not stock)
0
0
0
Total receipts for GST
20,000
10,000
10,000
Budgeted non-cash receipts incurring GST:
Debtors sales
180,000
230,000
150,000
Total non-cash receipts
180,000
230,000
150,000
Total budgeted receipts incurring GST
200,000
240,000
160,000
Budgeted cash payments incurring GST:
Cash purchases of stock
0
0
0
Cash expenses
4,300
5,200
5,250
Total cash receipts incurring GST
4,300
5,200
5,250
Budgeted credit payments incurring GST:
Credit purchases of stock incurring GST
25,000
30,000
25,000
Credit purchases of assets (besides stock)
4,300
5,200
5,250
Total cash payments incurring GST
29,300
35,200
30,250
Total budgeted cash payments incurring GST
33,600
40,400
35,500
GST cash budget calculations
a)Cash receipts
b)Cash payments
c)GST liability
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College Accounting Chapters 1-13
Authors: John Price
14th Edition
007763991X, 9780077639914
