Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Bronte& Saurus Company seels hardwood flooring to customers from its retail locations. It buys its flooring from Woodchuck Mills, which charges Bronte & Saurus 13

Bronte& Saurus Company seels hardwood flooring to customers from its retail locations. It buys its flooring from Woodchuck Mills, which charges Bronte & Saurus 13 percent HST whenever it makes a purchase. In 2015, Bronte & Saurus bought $ 50,000 worth of flooring from Woodchuck and made sales of $ 123,000, on which it charged its customers 13 percent HST. What will be the amount of HST that Bronte & Saurus will remit to the Receiver General for Canada for 2015?
A. $ 9,490
B. $ 15,990
C. $ 6,500
D. $ 13,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

To calculate the HST Bronte Saurus will remit we need to find the input tax credits ITCs ... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing a business risk appraoch

Authors: larry e. rittenberg, bradley j. schwieger, karla m. johnston

6th Edition

9780324645095, 324645090, 978-0324375589

More Books

Students also viewed these Accounting questions

Question

Find f x (x, y) and f y (x, y). f(x, y) = 2x + 5y 3x + y

Answered: 1 week ago