Detailed GST Calculation Worksheet for GB Pty Ltd. - May 2019

The assignment comprises a comprehensive GST (Goods and Services Tax) calculation worksheet for GB Pty Ltd. covering the period from May 1 to May 31, 2019. The worksheet details the calculation of GST amounts owed to or owed by the Tax Office, including total sales, export sales, GST-free sales, input taxed sales, capital and non-capital purchases, and adjustments. The document also includes the Business Activity Statement (BAS) with key figures such as total sales, GST on sales, capital purchases, and non-capital purchases. Additionally, a GST Audit Report is provided, detailing transactions excluded from the BAS and including account references, details, gross, GST, and net amounts for various payroll expenses, such as wages and salaries, PAYG withholdings, and superannuation. This document offers a practical example of GST accounting, reporting, and auditing within a business context, and is available on Desklib to aid students in understanding and solving similar financial assignments.

GST Calculation
Worksheet
Activity Statement | GB Pty Ltd. | 1 May 2019 to 31 May 2019 Page 1 of 3
GB Pty Ltd.
For the period 1 May 2019 to 31 May 2019
GST amounts you owe the Tax Office from sales
Total sales (including any GST) G1 0.00
Export sales G2 0.00
Other GST-free sales G3 0.00
Input taxed sales G4 0.00
G2 + G3 + G4 G5 0.00
Total sales subject to GST (G1 minus G5) G6 0.00
Adjustments (if applicable) G7 0.00
Total sales subject to GST after adjustments (G6 + G7) G8 0.00
GST on sales (G8 divided by eleven) G9 0.00
GST amounts the Tax Office owes you from purchases
Capital purchases (including any GST) G10 0.00
Non-capital purchases (including GST) G11 0.00
G10 + G11 G12 0.00
Purchases for making input taxed sales G13 0.00
Purchases without GST in the price G14 0.00
Estimated purchases for private use or not income tax deductable G15 0.00
G13 + G14 + G15 G16 0.00
Total purchases subject to GST (G12 minus G16) G17 0.00
Adjustments (if applicable) G18 0.00
Total purchases subject to GST after adjustments (G17 + G18) G19 0.00
GST on purchases (G19 divided by eleven) G20 0.00

Business Activity
Statement
Activity Statement | GB Pty Ltd. | 1 May 2019 to 31 May 2019 Page 2 of 3
GB Pty Ltd.
For the period 1 May 2019 to 31 May 2019
ABN 14675120319
GST Accounting Method Accruals Basis
Goods and Services Tax (Option 1)
Total sales G1 0.00
Does the amount shown at G1 include GST Yes
Export sales G2 0.00
Other GST-free sales G3 0.00
Capital purchases (including any GST) G10 0.00
Non-capital purchases (including GST) G11 0.00
Amounts you owe the Tax Office
GST on sales 1A 0.00
Deferred company/fund instalment 7 2,380.00
1A+7 8A 2,380.00
Amounts the Tax Office owes you
GST on purchases 1B 0.00
1B 8B 0.00
Payment or Refund
Is 8A more than 8B? Yes
Your payment 9 2,380.00

GST Audit Report
Activity Statement | GB Pty Ltd. | 1 May 2019 to 31 May 2019 Page 3 of 3
GB Pty Ltd.
For the period 1 May 2019 to 31 May 2019
Date Account Reference Details Gross GST Net
BAS Excluded
15 May 2019 Wages and Salaries
(477)
Payroll Expense
Journal - PD-1
Earnings 6,170.17 0.00 6,170.17
15 May 2019 PAYG Withholdings
Payable (825)
Payroll Expense
Journal - PD-1
Tax (2,380.00) 0.00 (2,380.00)
15 May 2019 Suspense (850) Payroll Expense
Journal - PD-1
Deductions (6.00) 0.00 (6.00)
15 May 2019 Suspense (850) Payroll Expense
Journal - PD-1
Reimbursements 50.78 0.00 50.78
15 May 2019 Superannuation
(478)
Payroll Expense
Journal - PD-1
Superannuation
Expense
548.63 0.00 548.63
15 May 2019 Superannuation
Payable (826)
Payroll Expense
Journal - PD-1
Superannuation
Liability
(548.63) 0.00 (548.63)
15 May 2019 Wages Payable -
Payroll (804)
Payroll Expense
Journal - PD-1
Wages Payable (3,834.95) 0.00 (3,834.95)
Total BAS Excluded 0.00 0.00 0.00
Total 0.00 0.00 0.00