Answer to Question #78850 in Accounting for Liam Johnston

Question

A business purchases 10 digital televisions for use in its offices. When the televisions arrive at the workplace the owner of the business decides that one will be taken home. The total cost of the acquisition was $16,500 (GST inclusive).

How you would process this to comply with taxation reporting requirements. How much input tax credit could be claimed and why?

Answer 1

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