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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.
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