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Abram Co of B.C. sells bearings (unfinished) to Braeburn Ltd a manufacturer of refined bearings. The price per bearing is $100. Braeburn sells its bearings

Abram Co of B.C. sells bearings (unfinished) to Braeburn Ltd a manufacturer of refined bearings. The price per bearing is $100. Braeburn sells its bearings to Charm Inc., a wholesaler. Charm in turn sells the bearings to distributor Dartmouth Co. Dartmouth Co. then sells to Retail Inc. Retail Inc. sells the product to consumer Eddie Binden.

All businesses apply a 10% mark up on their costs to arrive at the selling price and all these transactions took place in Alberta.

Complete the table below and compute the numbers that correspond to A,B,C,D, E, F,G,H,I,J,K,L and M,N,O,P and Q.

Company

Cost

ITC

Sale Price

GST/HST

SP Plus GST

Net Tax Remitted

Abram

-

-

100.00

5.00

105.00

5.00

Braeburn

A (2 marks)

E(2 marks)

I (2 marks)

M(1 mark)

Charm

B (2 marks)

F(2 marks)

J(2 marks)

N(1 mark)

Dartmouth

C (2 marks)

G(2 marks)

K(2 marks)

O(1 mark)

Retail Inc.

D (2marks)

H(2 marks)

L(2 marks)

P(1 mark)

Eddie Binden

XXXXXXX

XXXXX

XXXXXXX

Total Tax

Remitted

Q (2 marks)

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