Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

In the above example, if ITC claim was $4,000, will the business have to pay HST to CRA? (a) Yes (b) No (c) The net

image text in transcribed
image text in transcribed
In the above example, if ITC claim was $4,000, will the business have to pay HST to CRA? (a) Yes (b) No (c) The net amounts will balance out (d) None of the above An Ontario business has total revenues of $50,000 for a period. Revenues from Quebec customers represented $18,000. Revenues from Alberta customers represented $6,000. The balance was from Ontario customers. The business has an ITC claim of $3,200. How much HST does the business have to remit for the period

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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

Computer Accounting With QuickBooks 2021

Authors: Donna Kay

20th Edition

1264069197, 9781264069194

More Books

Students also viewed these Accounting questions

Question

1. There is agreement on what the response set should be.

Answered: 1 week ago