Use the same table as in Exercise 5 above but assume now that the retail item (the
Question:
Use the same table as in Exercise 5 above but assume now that the retail item (the sale by Z to the consumer) is exempt from GST. How much does each producer
(a) Collect in GST,
(b) Receive as a GST credit, and
(c) Remit to the government?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (8 reviews)
Sale value a GST b GST credit c GST ...View the full answer
Answered By
PU Student
cost accounting
financial accounting
auditing
internal control
business analyst
tax
i have 3 years experience in field of management & auditing in different multinational firms. i also have 16 months experience as an accountant in different international firms. secondary school certification.
higher secondary school certification.
bachelors in mathematics.
cost & management accountant
4.80+
4+ Reviews
10+ Question Solved
Related Book For
Public Finance In Canada
ISBN: 9781259030772
5th Canadian Edition
Authors: Harvey S. Rosen, Ted Gayer, Jean-Francois Wen, Tracy Snoddon
Question Posted:
Students also viewed these Business questions
-
Same facts as Exercise 5 But now you expect your tax rate on ordinary income to increase to 50% in year 4. How do your answers in Exercise 5 change? Would you make the Section 83(b) election?...
-
Assume the same facts as in Exercise 5. But now you expect your tax rate on ordinary income to decline to 20% in year 3. How do your answers in Exercise 5 change? Would you make the Section 83(b)...
-
Use the same information from E12- 1 but now assume that Henne Optical Corporation is an IFRS reporter. Henne Opticals discount rate is 5% and costs to sell any equipment are zero. In E12-1 Required...
-
Based on Exhibit 1, the expected future value of Bond I at maturity is closest to: A. 98.80. B. 103.74. C. 105.00. Lena Liecken is a senior bond analyst at Taurus Investment Management. Kristel...
-
Using a contents search in IntelliConnects Standard Federal Tax Reporter: a. What is the title of I. R. C. 265? b. How many regulations exist related to 265? c. What is the paragraph number of the...
-
A painting operation is scheduled in blocks, where each block involves painting products with a particular color. Cleaning time is required in between each pair of blocks so that the equipment can be...
-
Determine if 36 is divisible by 4.
-
The Derby Shoe Company produces its famous shoe, the Divine Loafer, which sells for $ 70 per pair. Operating income for 2012 is as follows: Sales revenue ($ 70 per pair)..... $ 280,000 Variable cost...
-
How do I make a projected income statemtent? Projected Income Statement Quarter ending 31 December 2020 Quarter Revenue Car Hire $58 650 Less Expenses Advertising $1 525 Depot rent $12 000 General...
-
Consider the ER schema for the MOVIES database in Figure 3.25. Assume that MOVIES is a populated database. ACTOR is used as a generic term and includes actresses. Given the constraints shown in the...
-
Some Canadian political leaders have referred to those corporate welfare bums when average tax rates on corporate-source income have been low. What view of the corporation is implicit in this...
-
According to Nobel Laureate Ed Prescott, Increasing tax rates [in Europe] will not increase revenue (Prescott, 2004: 2). What assumptions must hold in order for this statement to be correct?
-
(a) Explain how single-walled carbon nanotubes are classified in zigzag and armchair tubes. (b) What inherent properties of single-walled carbon nanotubes make those formed by arc discharge or laser...
-
4. The following equation can be used to calculate the fracture energy (Jm-2) of a material: T G = 2 -awo ac where is the critical extension ratio, a is the notch length, and Wo is the strain energy...
-
A blood particle has started at 13.0 cm [N] and has travelled to 27.3 cm [S]. What was its displacement in cm [S]? Round to the one (whole number). Do not enter the unit. Do not enter the direction.
-
The radius of the roll of paper shown in the figure (Figure 1) is 8.0 cm and its moment of inertia is I = 3.2x10-3 kg m. A force of 2.3 N is exerted on the end of the roll for 1.3 s, but the paper...
-
1. What is arbitrary detention a. Give the elements of arbitrary detention b. What is detention? c. Give 3 legal grounds to detain a person. 2. Give the 3 reglementary period for detaining a person...
-
Suppose you found a CD that pays 2.1% interest compounded monthly for 6 years. If you deposit $9,000 now, how much will you have in the account in 6 years? (Round to the nearest cent.) What was the...
-
What should Jeff Hawkins do to finance future growth for Numenta and its HTM technology?
-
5. Convert the following ERD to a relational model. SEATING RTABLE Seating ID Nbr of Guests Start TimeDate End TimeDate RTable Nbr RTable Nbr of Seats RTable Rating Uses EMPLOYEE Employee ID Emp...
-
How would officially granted monopolies affect the operation of our economic system? Consider the effect on allocation of resources, the level of income and employment, and the distr i bution of...
-
Comment on the following statement: Ultimately, the high cost of marketing is due only to consumers.
-
Distinguish clearly between a marketing strategy and a marketing plan. If a firm has a really good strategy, does it need to worry about developing a written plan?
-
Benefits Metrics: Choose any one benefit metricand explain its purpose, how its calculated, etc. Students maychoose different benefits metrics when attempting thisquestion.Thankyou in advance 2...
-
Research problem and objectives of the topic: the role of socialmedia in brand management: A case study of Starbucks. 2 answers
-
Concepts of brand management and social media marketing (thesisstyle) 2 answers
Study smarter with the SolutionInn App