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CHAPTERS Accounting for Merchandising Activities EXHIBIT 53.2 Sales Tax Rates, Effective January 1, 2018 PST Rate GST Rate HST Rate 0 0 0 0 5%

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CHAPTERS Accounting for Merchandising Activities EXHIBIT 53.2 Sales Tax Rates, Effective January 1, 2018 PST Rate GST Rate HST Rate 0 0 0 0 5% 5% 5% 5% III Regions with GST Only Alberta Northwest Territories Nunavut Yukon Regions with GST and PST British Columbia Manitoba Quebec Saskatchewan 5% 5% 8% 9.975% 5% 111 5% 5% Regions with HST New Brunswick Newloundland and Labrador Nova Scotia Ontario Prince Edward Island 15% 15% 15% 13% 15% 111 " Harmonized Sales Tax 5T) is applied in place of PST and GST. HST is the combination of the PST with the GST for a total sales tax. For example, for Ontario the PST ate of Bis combined with the GST of resulting in an overall HST of 17 For New Brunswick, the PST rate of 10% in combined with the GST of S. resulting in an over HST of 15% To continue the example, assume the January 3 purchase is paid on January 13 and the sale of January 5 is collected on January 20. Assuming no other purchases and sales during the month, the January sales taxes are paid to the appropriate government bodies on February 28. The entries to record these transactions are: Jan. 13 630 630 20 1,017 1,017 Feb 28 72 Accounts Payable Cash To record payment of January 3 purchase. Cash Accounts Receivable To record collection of January 5 sole. PST Payable Cash To record payment of PST to provincial government authority GST Payable Cash GST Receivable To record payme of GST to Receiver General for Canada 72 28 45 15 30 Examples demonstrating PST/GST for each region in Canada can be found online in Extend Your Knowledge S-1. along with reinforcement exercises. CHAPTERS Accounting for Merchandising Activities EXHIBIT 53.2 Sales Tax Rates, Effective January 1, 2018 PST Rate GST Rate HST Rate 0 0 0 0 5% 5% 5% 5% III Regions with GST Only Alberta Northwest Territories Nunavut Yukon Regions with GST and PST British Columbia Manitoba Quebec Saskatchewan 5% 5% 8% 9.975% 5% 111 5% 5% Regions with HST New Brunswick Newloundland and Labrador Nova Scotia Ontario Prince Edward Island 15% 15% 15% 13% 15% 111 " Harmonized Sales Tax 5T) is applied in place of PST and GST. HST is the combination of the PST with the GST for a total sales tax. For example, for Ontario the PST ate of Bis combined with the GST of resulting in an overall HST of 17 For New Brunswick, the PST rate of 10% in combined with the GST of S. resulting in an over HST of 15% To continue the example, assume the January 3 purchase is paid on January 13 and the sale of January 5 is collected on January 20. Assuming no other purchases and sales during the month, the January sales taxes are paid to the appropriate government bodies on February 28. The entries to record these transactions are: Jan. 13 630 630 20 1,017 1,017 Feb 28 72 Accounts Payable Cash To record payment of January 3 purchase. Cash Accounts Receivable To record collection of January 5 sole. PST Payable Cash To record payment of PST to provincial government authority GST Payable Cash GST Receivable To record payme of GST to Receiver General for Canada 72 28 45 15 30 Examples demonstrating PST/GST for each region in Canada can be found online in Extend Your Knowledge S-1. along with reinforcement exercises

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