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please answer asap thank you Mr. Anthony Scandinavo resides and works in New Brunswick which is an HST province where the relevant HST rate is
please answer asap thank you Mr. Anthony Scandinavo resides and works in New Brunswick which is an HST province where the relevant HST rate is 15%. During the year, Mr. Scandinavo earns business income of $250,000 all of which is for fully taxable supply. Other details about Mr. Scandinavo's business are: Office rent: $30,000 Salaries and benefits: $50,000 Cost of goods sold: $40,000 Purchases of Inventory: $35,000 Office furniture and computers: $15,000 (100% attributable to the provision of taxable supplies) None of the amounts for both revenues/expenses listed above include HST. Determine the HST payable or refund for the year. For the following questions, enter your answers to the nearest dollar. Do not enter a dollar sign or decimals but commas and brackets are fine to use. HST on Sales (enter as a positive): $ (1 mark) TOTAL Input Tax Credits (enter as a negative): $ (4 marks) Total Payable/Receivable (enter as positive if payable, negative if receivable): $ (1 mark)
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