Prepare a BAS (Business Activity Statement)

You need to prepare a business activity statement (BAS) for the first quarter of 2012/13.

Complete the following GST to anticipate the GST liability.

	July	August	September
Budgeted cash receipts incurring GST:
Cash sales	20000	10000	10000
Cash revenue (besides sales)	0	0	0
Cash receipts from sale of assets (not stock)	0	0	0
Total receipts for GST	20000	10000	10000
Budgeted non-cash receipts incurring GST:
Debtors sales	180000	230000	150000
Total non-cash receipts:	180000	230000	150000
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	4300	5200	5250
Total cash receipts incurring GST	4300	5,200	5,250
Budgeted credit payments incurring GST
Credit purchases of stock incurring GST	25000	30000	250000
Credit purchases of assets (besides stock)	4300	5200	5250
Total cash payments incurring GST	29300	35200	30250
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