Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Pls answer this question from a tax class #4 Saved K Ltd., a Canadian company, had sales of $3,500,000 in the last quarter of the

Pls answer this question from a tax class

image text in transcribed
#4 Saved K Ltd., a Canadian company, had sales of $3,500,000 in the last quarter of the year ($3,000,000 within Canada and $500,000 outside of Canada). During the same period, the following expenditures were incurred: inventory purchased $800,000, equipment purchased $100,000, salaries & wages $400,000, rent $170,000, insurance $20,do0, and interest expense $30,000. What is the amount of GST to be remitted to the CRA for the quarter? $ 96500

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

Managerial Accounting

Authors: Stacey Whitecotton, Robert Libby, Fred Phillips

4th edition

1259964957, 1260413985, 1260565440, 978-1260413984

More Books

Students also viewed these Accounting questions