Q 3.8: Katherine McDonald runs a business called Kate's Confectionery and produced a wide variety of confectionery for domestic and export markets. During the December quarter, Katherine held a Christmas party for all her customers to thank them for their business during the year. Katherine also purchased a new car which she uses 70% for business purposes and 30% for personal use. Kate's Confectionery is registered for GST and reports quarterly on an accrual basis. She provides you with the following information relating to the December quarter. All amounts include GST where applicable. INCOME $ Domestic confectionery sales 191.400 Export confectionery sales 50,500 Domestic freight charges 9.100 Export freight charges (no GST) paid by export customer for export sales 2,900 Prior year Income Tax refund 6.241 Discounts provided to customers for early payment 1,000 Interest charged on overdue accounts 200 Dividends received 3,789 Proceeds from sale of old motor vehicle (100% business use) 8,500 EXPENSES $ Salaries & wages 204,610 Sugar & cocoa 33.000 Milk & butter 13,838 Packaging supplies 5,825 Entertainment - supplier Christmas party (non-deductible) 2.050 Freight 7.357 Interest paid on loans 590 New motor vehicle (value based on 70% business use) 30,000 Insurance paid (no Stamp Duty) 120 Cleaning 2,450 Printing & stationery 1,848 Required: prepare the GST Calculation Worksheet for the December quarter (next page). FNSBKG404 Carry out Business Activity and Instalment Activity Statement Tasks Mod3.3 - Assignment 170314 Page 18 of 45 MONARCH INSTITUTE