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1、AnswerstoChapter2Activities2.1GST=$2,390.65÷23x3=$311.82TheGSTcontentis$311.82andtheGSTexclusiveamountis$2,078.83($2,390.65-$311.82).2.2GST=$308.90÷23x3=$40.29TheGSTcontentis$40.29andtheGSTexclusiveamountis$268.61($308.90-$40.29).2.3GST=$22,999.95÷23x3=$2,999.99TheGSTcontentis$2,999.99andtheGS
2、Texclusiveamountis$19,999.96($22,999.95-$2,999.99).2.4GST=$17,545x15%=$2,631.75GSTof$2,631.75shouldbeaddedtothecostofthecar,whichmeansthattheGSTinclusivecostofthecaris$20,176.75($17,545+$2,631.75).YoucancheckthisanswerbydividingtheGSTinclusiveamountby23andmultiplyingby3($20,176.75÷23x3=$2,631.
3、75).ThischeckgivesyouthesameGSTcontentasyoucalculatedabove,soyourcalculationsmustbecorrect.2.5GST=$14.60x15%=$2.19GSTof$2.19shouldbeaddedtothecostofthecalculator,whichmeansthattheGSTinclusivecostofthecalculatoris$16.79($14.60+$2.19).2.6GST=$245.00x15%=$36.75GSTof$36.75shouldbeaddedtothecostoft
4、hetelevision,whichmeansthattheGSTinclusivecostofthetelevisionis$281.75($245+$36.75).©PearsonEducationNewZealand2011AccountingPractices:TheNewZealandContext,byRuthMcIntoshAnswerstoChapter2Activities,page12.7ThemainadvantagetoShaeinchoosingtoregisterforGSTisthatshecouldclaimbacktheGSTsheincurson
5、allherbusinessexpenditure,includingthepurchaseofthenewequipment.ThemaindisadvantageisthatshewouldhavetochargehercustomersGST.PresumablymostofShae’scustomersareprivateconsumers,andcouldnotclaimbacktheGST.ThecostofShae’sproductswillthereforehavetoincreasemakingherlesscompetitive,orifshemaintains
6、priceshergrossprofitwilldecrease.RegisteringforGSTwillalsoincreaseShae’scompliancecosts.2.9ProvidedRickkeepstherequireddetailshecanclaim$60GST($460÷23x3).2.10GeneraljournalPage1⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯DateAccounttitlesDebitCredit⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯2012$$June1Bank11.00Interesti
7、ncome11.00BeingentryrequiredtorecordinterestincomecreditedtobankaccountDidyourememberthatinterestincomeisexemptfromGST,becauseitisafinancialservice?June1Securityexpense29.67GSTpaid4.45Bank34.12Beingch407toSecurityPlusforalarmmonitoringJ
