Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Joan Jett's Big Bass Ice Cream shop is famous in Brampton, Ontario. She has made a decision to import a new flavour of ice cream

Joan Jett's Big Bass Ice Cream shop is famous in Brampton, Ontario. She has made a decision to import a new flavour of ice cream "I Love Rocky Road" from Buffalo, New York (USA). She plans to import the following shipment. 1900 small drums in 700 cases. Each small drum costs 36 USD. Customs duty is 1.5% and GST is 5% Answer the following questions (make no assumptions, use only the information given).

What trade agreements are between Canada and USA. Be very specific (no abbreviations) (1 mark) How did you find this information? (describe, do not give the link) (1 mark) If the exchange rate is 1.34 what are the VCC, VFD, Customs Duty, VFT, GST and total payable to CBSA (6 marks) If you add the VFD + the total payable to the CBSA what does this amount tell you as an importer. Be specific

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

Bond Markets Analysis And Strategies

Authors: Frank J Fabozzi

8th Edition

013274354X, 9780132743549

More Books

Students also viewed these Finance questions

Question

Should civil service employees be allowed to unionize? Why?

Answered: 1 week ago