User Account

All Pages

What is the effect on the net amount of gst of the above

Assignment Help Financial Accounting
Reference no: EM133522232

Question: Jack, who is registered for GST, buys a car costing $44,000 (GST-inclusive) on 8 September 2020 from a GST-registered car dealer. Jack intends that 55 per cent of the car's mileage will be for his GST-registered race car driver tutoring enterprise, and 45 per cent for his own private use. At the end of April 2021, Jack calculates that the car was actually used 72 per cent of the time for business purposes and 28 per cent of the time for non-business purposes Question What is the effect on the net amount of GST of the above events?

Reference no: EM133522232

Questions Cloud

Calculate the net present value : Calculate the net present value. Based on the net present value, should Universal Electronics purchase the asset?
Explanation of how professional practice model : Explanation of how a professional practice model supports the care delivery system through patient -centered care and an environment of quality
Determine the stock market price on the first business : determine the stock's market price on the first business day of each month for the last 12 months. formulate chart in Excel that shows this information.
Experienced periods of increasing mental instability : Andrew and Adam are 33-year-old monozygotic twins. Andrew has experienced periods of increasing mental instability over the past few years
What is the effect on the net amount of gst of the above : Jack calculates that the car was actually used 72 per cent of the time for business purposes and 28 per cent of the time for non-business purposes
Explain postoperative complications typical in older patient : Identify and explain postoperative complications typical in the older patient undergoing this type of surgery?
What would you look for that could distinguish a solid : How would you determine whether a source of information on policy issues is reliable or not? What would you look for that could distinguish a solid
Identify organizations that regulate your nursing license : Identify the organizations that regulate your nursing license in New Hampshire, scope of practice, and certifications.
Demonstrate empathy-sensitivity and professionalism : Demonstrate empathy, sensitivity, professionalism and courtesy in your interaction with Henry

Reviews

Write a Review

Financial Accounting Questions & Answers

  What is the standard deviation of the portfolio

The proportion of your wealth invested in stock A is 50%. The correlation between the two stocks is 0.25. What is the standard deviation of the portfolio

  Should the firm adopt the policy

The firm estimates that it can increase the price of the product by $2 per unit to $112, then should the firm adopt the policy

  Internal control of purdue pharma

Purdue Pharma's L.P. COSO and COBIT framework for internal control? Please make sure to be detailed when listing all parts of the frame work related to the Purd

  Find the company wacc

If the risk-free rate is 4 percent, the market risk premium is 6 percent, and the tax rate is 34 percent, find the company's WACC

  How much would be the the actual return on plant assets

How much would be the the actual return on plant assets? The defined benefit pension for the Milan Company for the year ending December 31, 2014

  Problem at the beginning of the year a company bought three

problem at the beginning of the year a company bought three new machines for its production facilities. the machines

  How amortization schedule that would be suitable for lessee

How an amortization schedule that would be suitable for the lessee for lease term is calculated? The lessee uses the straight-line amortization for all leased.

  What is howells correct ending inventory balance at december

What is Howell's correct ending inventory balance at December 31, 2014? Which statement concerning lower of cost or market (LCM) is incorrect?

  What are the valuations of these two stocks

If U.S. Treasury bills currently yield 2.4 percent and you expect the market to increase at an annual rate of 8.7 percent, what are the valuations

  Financial reporting requirements in financial reporting rule

Summarize what you think are both the Purpose and Nature of the Financial Reporting Requirements in the Financial Reporting Rules for NPO’s? Identify the types of differences that you see when comparing Corporations’ F/S compared a NFP/NPO‘s F/S.

  Which entries correctly reflects tax effect for intragroup

Which entries correctly reflects the tax effect for this intragroup transaction? Danish Ltd owns all the shares in Bikki Ltd. Danish Ltd sells land to Bikki Ltd

  What would be the balance in the land account as of December

Larkin Co. purchased a $510,000 tract of land that is intended to be the site of a new office complex. What would be the balance in the land account

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