标题: Transport Pty Ltd - Company Accounting & tax return [打印本页] 作者: kim 时间: 2014-4-14 22:09 标题: Transport Pty Ltd - Company Accounting & tax return 本帖最后由 kim 于 2014-4-15 06:17 编辑
Hi guys
Please process the attached DNP's Company accounting details in HandiTax.
Don't forget to do calculate HP Charge and deprecation to include in MV expenses.
The company kept a log book which tells 90% of buiness usage for a MV (Truck - use 100%)
Please update your homework in here, then I can double check for you
Kim
作者: Bella21 时间: 2014-4-18 12:28
Hi Kim, I have a quesiton about Semester Pty Ltd. How to figure out MV expense(65666) and all other expense (179631)?
Thank you and happy Easter!作者: kim 时间: 2014-4-18 15:35
Hi Bella
Motor Vehicle expenses are from Motor Vehicle Worksheet and all other expenses are from the Income Statement.
To calculate MV expenses you need the following expenses related to MV. We have prepared MV worksheet and according to the worksheet, we have....
- Petrol $2553 as per Income statement
- Registration and Insurance $8627 as per Income statement
- Depreciation $52851 as per Depn Schedule
- HP charge (interest) $11382 as per HP charge (unexpired HP charge per each vehicle - we calculated this in class)
- Repairs $6669 as per Income statement
Which is total of 82,082 but we applied only 80% = $65666 is the MV expense
The other expenses are all other expenses as per income statement except for the MV expenses.
Hope this helps. Please let me know if you need further assistance.
Kim 作者: kim 时间: 2014-4-18 15:36
Oh you too have a great Easter Friday and see you soon on Sunday morning.
Kim作者: kim 时间: 2014-4-18 19:41
Hi Guys
Please don't forget - truck is not a motor vehicle and include 100% as a business deduction - the attached HP contract is for the truck.
For the motor vehicle, please use the following information.
Subaru: 90% business usage
Car WDV: 18,200 at the beginning of fin year
Depn rate:30% - in General pool
Depn method: D
Unexpired HP charge: $8,960 for 60 months (calculate yearly and include this as a MV expense)
Cheers
Kim作者: Bella21 时间: 2014-4-19 17:31
Hi Kim, can you explain how to figure out unexpired HP charge (11382) of Semester Pty Ltd? My calculation as following:
Nissan1272.05+Hyundai i301179.96+Hyundai i MAX1560+Hyundai GDe1219.98+Benze6474.96+Honda3138.44+Toyota790.32=$15635.71
besides,does all other expenses include expenses in Income statement except MV registration and insurance, MV Petrol and MV repair aslo include borrowing expnese $1294, formation expense $330/5, loan from director$48193 and superannuation$1490?
By the way, I cannot download updated files of DNP
Sorry for a lot of questions 作者: kim 时间: 2014-4-19 21:54
Hi Bella,
My calculation of HP came from the following
1272: Nissan
1180: i30
1220: Gde
1560: iMax 2
2411: Benz
3129.44: Honda
790.32: Toyota
Maybe we can check it tomorrow.. it seems you have more MVs than I do!! haha
Sorry you couldn't download the DPN, but they are exactly same sheets as I gave you in class.
Just beware of the additional information that I posted yesterday.
You are right about the Borrowing expense, formation expenses and superannuation. However Loan from director is not an expense but liability. it should go to Financial data not income statement.
Cheers and see you tomorrow.
Don't worry about a lot of questions.
Kim
1272.05+Hyundai i30