User Account

All Pages

What information must be contained in a tax invoice

Assignment Help Financial Accounting
Reference no: EM132973917

Transaction 1:

On 1 March, 2020 Piper Retail Services ABN 70 123 456 789, 127 Piper St Kingsway NSW 2999, sold 150 cleaning mops costing $50 plus GST each to Lee Norman Pty Ltd ABN 70 659 023 532 22 Wentworth St Ryde, NSW 2040. Tax invoice number is 6695.

Transaction 2:

On 7 March, 2020 Lee Norman Pty Ltd returned 20 cleaning mops to Piper Retail Services as they were faulty. Piper Retail Services issued a Tax Adjustment to Lee Norman Pty Ltd on 8 March, invoice number CN236.

Problem 1: What information (as a minimum) must be contained in a Tax Invoice and what is the time frame for invoices to be processed to comply with organisational policy and procedure?

Reference no: EM132973917

Questions Cloud

What is the numerator for basic eps calculations : What is the numerator for basic eps calculations? For the year ended december 31, 2020, pony company earned $6,500,000 net income.
How much will you have to save each year : How much will you have to save each year in years 16 until retirement so that you meet your retirement goal? Assume the discount rate is 10 percent per year
What would abc inc record as interest expense for the period : The bonds sold for $852,798. Using the effective interest method. What would ABC inc. record as interest expense for the period January 1 to June 30 , year 1?
What will be the effect on net operating income : The company plans to make and sell 50,000 baseballs. What will be the effect on net operating income if the company increases sales by 32%
What information must be contained in a tax invoice : What information (as a minimum) must be contained in a Tax Invoice and what is the time frame for invoices to be processed to comply with organisational policy
How would you choose to finance the equipment : You currently own 100% of the business (equity valued at $100,000), with no long term debt. How would you choose to finance the equipment
Identify the advantages of electronic record keeping : Explain what records are required by law and how long records need to be kept. Identify three of the advantages of electronic record keeping.
How much is the ot premium charged to direct labor : The factory overhead application rate is P30 per direct labor hour. How much is the OT premium charged to direct labor
Determine the month two cash payments total : Revenue in month one of a new Vegan restaurant is forecast to be $45,000 and in month two $60,000. Determine the Month two cash payments total

Reviews

Write a Review

Financial Accounting Questions & Answers

  Compute how many finished goods units should be produced

Compute How many finished goods units should be produced during the quarter if the company desires 3,200 units available to start the next quarter?

  Find estimated cost of ending inventory using cost retail

Find the estimated cost of ending inventory using Cost Retail Method, Gross Profit Method, if markup percentage is 20 % on cost

  Calculate the value of each investment

Calculate the value of each investment based on the required rate of return. Which investment would you recommend and why? Research on the current trends and future prospects on each of the industries and include a summary

  Compute the annual depreciation for toys manufactured

Toys Manufacturer leased an asset for use in its factory in Athens, Georgia from Robotic Corporation. The lease agreement stipulates that Toys Manufactured is required to make annual payments of $2,818 payable on the last day of the calendar year (De..

  Explain the types of the hypothesis

Changes like this are critical to the implementation of monetary policy. Interest rates fluctuate due to variations in time periods. Elaborate its system.

  Evaluate net present value of the investment opportunity

Assuming a required(desired) rate of retuen of 12%, the net present value of this investment opportunity is (Use the PV of $1 and PVA of $1 table)

  Show all the journal entries in the financial records

Show all the journal entries in the financial records of Brown Ltd for the year ended 30 June 2023 (to simplify your response the concept of time-value)

  Computing walmarts share value using the residual income

Computing Walmart's Share Value Using the Residual Income Valuation Approach, Use the CAPM to compute the required rate of return on common equity capital for Walmart.

  What the total contract price of the project is

What the total contract price of the project is? The data were taken from the files of LKLD Company, Architect's total estimated cost of completion

  What is the stocks beta

The expected rate of return on the Wilshire 5000 is 0.07 and the required rate of return of a stock is 0.13. What is the stocks beta

  How do determine the comprehensive income and accumulated

How do determine the Comprehensive Income and Accumulated Other Comprehensive Income (as at the end of 2020) amounts for 2020

  Calculate required return and risk premium for trenz shares

Describe the Capital Asset Pricing Model (CAPM) and what it states to an investor. Calculate, the required return and risk premium for Trenz shares

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd