Freddy runs a business selling clocks. He buys 457 clocks for $44 each (including GST) and sells for $77 each (inc GST). He is registered for GST credits. How much should he remit to the ATO once all the clocks are sold?

Freddy runs a business selling clocks. He buys 457 clocks for $44 each (including GST) and sells for $77 each (inc GST). He is registered for GST credits. How much should he remit to the ATO once all the clocks are sold?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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