Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 13 (1 point) Listen Ms. Melinda Martins lives and works in Nova Scotia where the relevant HST rate is 15%. During the current year,

image text in transcribed

Question 13 (1 point) Listen Ms. Melinda Martins lives and works in Nova Scotia where the relevant HST rate is 15%. During the current year, she records consulting service revenue of $270000. Rent for this period on her office premises totals $24000 and she pays a clerical assistant an annual salary of $25500. Her capital expenditures during the period are for new office furniture with a cost of $37000 and computer hardware and software for $15000. All amounts are before the addition of HST and the assets are used 100 percent for the provision of taxable supplies. She files her HST return on an annual basis. Determine the net HST payable or refund for the year. Round to the nearest dollar. Do NOT write commas, dollar signs, or decimals in your response. Your

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

Understanding And Auditing IT Systems Volume 1

Authors: Young-Woon Min

2nd Edition

978-1257124084

More Books

Students also viewed these Accounting questions

Question

1. Why do people tell lies on their CVs?

Answered: 1 week ago

Question

2. What is the difference between an embellishment and a lie?

Answered: 1 week ago