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...
-
Professional Image Briefcases is an exclusive producer of handcrafted, stylish cases. The company assembles each case with care and attention to detail. This laborious process requires the completion...
-
Prepare closing entries. Requirements 1. Using the following selected accounts of A to Z Electrical, Inc., at April 30, 2010, prepare the entitys closing entries: 2. What is A to Z Electricals ending...
-
A company preparing for a Chapter 7 liquidation has the following liabilities: Note payable A of $90,000 secured by land having a book value of $50,000 and a fair value of $70,000. Note payable B...
-
1. Do you think that the NFL and franchise owners are meeting their obligations to employee health and safety? 2. Do you think that the NFL's and owners' responsibilities in terms of player safety...
-
Richard chooses technique 0 and 2 requiring 10+10-20 efforts and provising 10+11=21 benefits. Hence, 21 is returned as the output Example 2: input1: 3 input2: (10,10,10,10) input3: (10,11,12,15)...
-
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?
-
Listed as follows are various costs found in businesses. Classify each cost as a fixed or variable cost, and as a product and/or period cost. A. Wages of administrative staff B. Shipping costs on...
-
Why do regulators face a trade-off between competitiveness and the benefit of economies of scale in imperfectly competitive markets?
-
Why is costless exit as important a feature of a perfectly contestable market as costless entry?
-
Why were Leontiefs findings considered paradoxical? Explain.
-
Explain why a monopolist will always produce a quantity at which the demand curve is price elastic.
-
What are the four key assumptions of a perfectly contestable market?
-
Under the oneway ANOVA assumptions: (a) Show that the set of statistics (1., 2.,..., k., S2p) is sufficient for (θ1,θ2, ..., θk, Ï2). (b) Show that is...
-
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?
-
Calculate the cost per unit, and then use it to identify if each cost is fixed, variable, or mixed. Cost 1 Cost 2 Cost 3 2. Cost 1 Cost 2 Cost 3 Units Total Cost per Total Cost per Total Cost per...
-
Consider the auction of a single indivisible object to two risk neutral bidders, each of whom receives a private signal X; (i = {1,2}) which is independently and uniformly distributed on the interval...
-
Complete Principal of statistics 1. Find a set of data. You can find this online, in a book, collect your own. In the box below put your data in a chart. 5pt 2. Tell me where you got your data. (i.e....
Study smarter with the SolutionInn App