Is 8A more than 8B indicate with an X Yes then write the result of 8A minus 8B

Is 8a more than 8b indicate with an x yes then write

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Is 8A more than 8B? (indicate with an X)Yes, then write the result of 8A minus 8B at 9.This is the amount payable to the ATO.XNo, then write the result of 8B minus 8A at 9. This amount is refundable to you (or offset against any other tax debt you have).Payment due913,083Payroll and Activity Statement, Assessment 1_v2Page 1Last updated on 16/09/2019
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T-1.8.1Task 07 (5 marks) - BAS using a classification worksheet Classification worksheet (Output)Account DetailsOutputsTaxableExportsGST-FreeInputTaxedExcludedCommercial rent received6,6006,600Residential rent received7,7007,700Sales of goods and services51,100 51,100 Interest received480480 Dividends receivedExport sales18,000 18,000Sale of old photocopier660660GST free sales46194619Total89,159 58,36018,0004,619 8,180 GST ClassificationWorksheet ReferenceG1G6G2G3G4Classification worksheet (Input)Account DetailsAmountCapitalPurchasesNonCapitalPurchasesTaxable SupplyInputtaxedGST-FreeExcludedWage & salaries (Gross)60,000 60,000Stationary4,400 4,4004,400Depreciation5,000 5,000Accounting fees3,300 3,3003,300Electrical repairs550 550550Payroll and Activity Statement, Assessment 1_v2Page 1Last updated on 16/09/2019
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T-1.8.1Business insurance premiums220 220220General expenses990 990990Bank Charges70 7070Motor vehicle operating costs990 990990Telephone550 550550Council and water rates330 330330Residential rent expense450 450450 Membership Fee66 6666Superannuation contributions1,970 1,970Inventory purchases7,700 7,7007,700Commercial rent expenses460 460460Computer system update12,147 12,14712,147Purchase of new printer3,300 3,3003,300PAYG withholding14,000 14,000Totals116,493 15,447 20,076 34,673520330 80,970 GST Classification Worksheet ReferenceG10G11G17G13G14GST Calculation Worksheet G1Total Sales (incl any GST)89,159G10Capital Purchases (incl any GST)15,447G2Exports18,000G11Non-Capital Purchases (incl any GST)20,076G3Other GST –Free Sales4,619G12G10 + G1135,523G4Input Taxed Sales8,180G13Purchases for making Input Taxed Sales520G5G2 + G3 + G430,799G14Purchases without GST in the price330G6Total Sales 58,360G15Estimated Purchases for0.00Payroll and Activity Statement, Assessment 1_v2Page 1Last updated on 16/09/2019
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T-1.8.1subject to GST (G1 minus G5)Private Use or not Income Tax DeductibleG7Adjustments (if applicable)G16G13 + G14 + G15850G8Total Sales subject to GST after Adjustments (G6 +G7)58,360G17Total Purchases subject to GST (G12 minus G16)34,673G9GST on Sales (G8 divided by eleven)5,305.45G18Adjustments (if applicable)0.00G19Total Purchases subject to GST after adjustments(G17 + G18)34,673G20GST on Purchases (G19divided by eleven)3,152.09NET GST PAYABLE 2,153.36(G9 minus G20)c) Cash flowJumping Jacks Pty Ltd has provided an extract of their forecasted cash flow and you have prepared the BAS for the September quarter, the payment due as shown on the BAS is $30,000.Extracted forecasted cash flowSeptemberOctoberNovemberDecemberEstimated Closing bank balance$30,000($70,000)($50,000)$10,000Required: Payroll and Activity Statement, Assessment 1_v2Page 1Last updated on 16/09/2019
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T-1.8.1Jumping Jack’s Pty Ltd reports and pays GST quarterly. From the above information what would you bring to the attention of your client regarding the payment of this amount? Describe the main cash inflow and outflows
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