Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question #1. Using the following information, complete a GST/HST return for the Wildstone Outdoor Company.( Business No 123456789 for the reporting period January 1st to

Question #1. Using the following information, complete a GST/HST return for the Wildstone Outdoor Company.( Business No 123456789 for the reporting period January 1st to March 31st 2019. 1. The fiscal year end is December 31st 2. Sales per the GL at March 31st is $36,225.45 3. The HST Payable account at March 31st is $4,709.31 4. Balance in the HST-ITC account at March 31st is $1,490.18 Question #2 Pundit Company is located in Ontario and sells its services only in Ontario. The annual sales excluding HST is $200,000 and its annual expenses are $50,000 for salaries and $25,000 for other expenses. Should Pundit Company use the Regular method to calculate HST or the Quick Method?. Show the calculations for each method and state conclusion below.

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

Accounting

Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren

23rd Edition

978-0324662962

More Books

Students also viewed these Accounting questions