Question
An Ontario Music Store selling Education Lessons and Taxable Products provides you that the following HST Included Financial information for this month: Chairs and Piano
An Ontario Music Store selling Education Lessons and Taxable Products provides you that the following HST Included Financial information for this month:
| Chairs and Piano Revenue | $10,000 |
| Music Lesson Revenue | $20,000 |
| Bad debt on Music Lessons sold last month. (Hint: Music Lesson are HST Exempt Status) | 50% of $1,000 of Revenue including HST sold last month and recognized as bad debt for HST purposes. |
| Taxable Office Expenses Purchased for selling Chairs and Pianos | $500 |
The Net HST Payment, rounded to the nearest dollar for this month will be?
| A | 3,334 | |
| B | 1,150 | |
| C | 1,092 | |
| D | 6,78 |
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Global Taxation How Modern Taxes Conquered The World
Authors: Philipp Genschel, Laura Seelkopf
1st Edition
0192897578, 978-0192897572
