What is the amount for gst on sales

Assignment Help Accounting Basics
Reference no: EM133116503

Question - Eddie's Landscaping Supplies is registered to report GST quarterly on a Cash basis in Australia. They have provided the following information relating to the June quarter.

Cash sales during the quarter = $4,990

Credit Sales during the quarter = $ 11,850

Payments Reveived for Credit Sales = $3,555

Required - What is the amount for GST on Sales (rounded) to be recorded at 1A of the Activity Statement ?

a) 776

b) 453

c) 1,122

d) 854

Reference no: EM133116503

Questions Cloud

What is his taxable income for the september paycheck : He plans to repay this advance from his gross wages of $450 to be paid on September 15. What is his taxable income for the September 15 paycheck
Efficient market hypothesis theory : Does Efficient Market Hypothesis theory can be disproved based on the analysis of real-world data that does not exactly mimic/reflect the underlying assumptions
Cryptography computer privacy : Cryptography is an enabling technology for self-help privacy. What policies are needed and appropriate in a networked world regarding the use of cryptography?
Describe job order cost systems : Each question should be answered in 30-40 words. Describe job order cost systems. What is manufacturing overhead
What is the amount for gst on sales : Eddie's Landscaping Supplies is registered to report GST quarterly on a Cash basis in Australia. What is the amount for GST on Sales
Survey of corporate foreign exchange risk : According to a recent survey of corporate foreign exchange risk management practices, many firms simply do not hedge foreign exchange risk.
Sentiment analysis deals? : What are the common challenges with which sentiment analysis deals? What are the most popular application areas for sentiment analysis? Why?
What are the dollar return and the rate of return : Assume that the stock price falls and the net is only $9,500 when the stock is sold. What are the dollar return and the rate of return
Islamic banking and financial institutions : Explain five issues related to ethical in Islamic banking and financial institutions.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Slick corporation is a small producer of synthetic motor

slick corporation is a small producer of synthetic motor oil. during may the company produced 5000 cases of lubricant.

  How much of the distribution will be taxable to Mindy

Mindy is 55 years old and she takes a distribution of $38,000 after retiring on disability. How much of the distribution will be taxable to Mindy

  What amounts will reflect in the cash receipts journal

What amounts will reflect in the cash receipts journal when P285,000 list price, less 3% cash discount, VAT inclusive, is sold to customer?

  Which of the accounts are distinctive to each business

What indicators explain this trend? Which of these accounts are distinctive to each business? Why? Based on the presented financial ratios, can you determine if the firm is improving or deteriorating? Why or why not?

  What st olafs accounting department make at the end

State government within 30 days of the end of fiscal year 2018. What entry, if any, would St. Olaf's accounting department make at the end of 2018?

  How much money will he have in your savings account

If your client invest $96,000 today at an interest rate of 5.41 percent, compounded daily, how much money will he have in your savings account in 30 years

  What amount of net earnings under the cash and accrual bases

The company would report what amount of net earnings under the cash and accrual bases of accounting, respectively?

  Describe evaluating investment opportunities

If your company has a required return of 8.5% on this type of investment, what is the maximum amount that the company should pay for the investment?

  In a sole proprietorship the drawing account is similar to

1. the partner capital account is what type of account and what is the capital accounts normal balances?a. asset

  Journalize assignment of the costs to processing departments

Altex Manufacturing purchases $45,000 of raw materials on account, Journalize the assignment of the costs to the processing departments on March 31

  Will the fund at the end of years

Culver Corporation, having recently issued a $20,075,700, 15-year bond issue, Will the fund at the end of 15 years be sufficient to retire the bonds

  How would your answer change

How would your answer change if Mr. Young's sole proprietorship qualifies for the 20 percent Section 199A deduction

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!

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