Using a Business activity statement from ATO, You are required to apply to correct GST code against the
following business balances for the period January to March; the company uses the accrual basis when
accounting for GST. All of these amounts include GST if applicable.
Account Total amount
Sales invoiced (inc. GST)
Other GST-free sales 16,800
Purchase invoices (inc. GST)
Assets purchased 60,700
Purchase of materials 115,200
General journal bills
Petrol for company vehicle 2,200
PAYG withheld from salaries and wages 33,400
ATO-assessed income rate 3.60%
It is important that bookkeepers are able to calculate GST amounts accurately.
Calculate GST on an invoice received for payment of education fees; total invoice amount is $2,200