In the table below, with a GST rate of 5 percent, how much does each producer (a)
Question:
In the table below, with a GST rate of 5 percent, how much does each producer
(a) Collect in GST;
(b) Receive as a GST credit; and
(c) Remit to the government?
Transcribed Image Text:
Sale value GST collected GST credit GST remitted Sale by producer X to producer Y $200.00 Sale by producer Y to producer Z $600.00 Sale by producer Z to consumer $1,600.00
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 77% (9 reviews)
Sale value a GST b GST credit c GST ...View the full answer
Answered By
Somshukla Chakraborty
I have a teaching experience of more than 4 years by now in diverse subjects like History,Geography,Political Science,Sociology,Business Enterprise,Economics,Environmental Management etc.I teach students from classes 9-12 and undergraduate students.I boards I handle are IB,IGCSE, state boards,ICSE, CBSE.I am passionate about teaching.Full satisfaction of the students is my main goal.
I have completed my graduation and master's in history from Jadavpur University Kolkata,India in 2012 and I have completed my B.Ed from the same University in 2013. I have taught in a reputed school of Kolkata (subjects-History,Geography,Civics,Political Science) from 2014-2016.I worked as a guest lecturer of history in a college of Kolkata for 2 years teaching students of 1st ,2nd and 3rd year. I taught Ancient and Modern Indian history there.I have taught in another school in Mohali,Punjab teaching students from classes 9-12.Presently I am working as an online tutor with concept tutors,Bangalore,India(Carve Niche Pvt.Ltd.) for the last 1year and also have been appointed as an online history tutor by Course Hero(California,U.S) and Vidyalai.com(Chennai,India).
4.00+
2+ Reviews
10+ Question Solved
Related Book For
Public Finance In Canada
ISBN: 9781259030772
5th Canadian Edition
Authors: Harvey S. Rosen, Ted Gayer, Jean-Francois Wen, Tracy Snoddon
Question Posted:
Students also viewed these Business questions
-
Each of the six firms in the table below is expected to pay the listed dividend payment every year in perpetuity. a. Using the cost of capital in the table, calculate the market value of each firm....
-
The data in the table below are for retail sales in book stores by quarter. a. Plot these data and examine the plot. Does this view of the data suggest a particular smoothing model? Do the data...
-
The carbon steels listed in the table below were soaked at 1000 C for 1 hour to form austenite and were cooled slowly, under equilibrium conditions to room temperature. Refer to the Fe-Fe3C phase...
-
Several factors can impact the structural soundness of 3D-printed objects, including the struts that connect various pieces. The following data appears in the article Analyzing the Effects of...
-
Describe the Working Papers section of a BNA Tax Management Portfolio.
-
Draw the free-body diagram for the following problems. a) The rod in Prob. 544. b) The hand truck and load when it is lifted in Prob. 545. c) The beam in Prob. 547. d) The boom frame in Prob. 552. k...
-
Its Intoxicating Inc., is a Pennsylvania corporation that manufactures and distributes cosmetic products to various retailers. Maritim is a German company that owns and operates hotels throughout...
-
Cost allocation to divisions. Lenzig Corporation has three divisions: Pulp, Paper, and Fibers. Lenzigs new controller, Ari Bardem, is reviewing the allocation of fixed corporate-overhead costs to the...
-
Step 3: Using the Price and Total Quantity Demanded data from the table above, graph the demand curve on the axes provided (be sure to provide numbers on the axes for price and quantity demanded)....
-
A brass bar (E = 100 GPa) with a square cross section is subjected to axial force having a resultant P acting at distance e from the center (see figure). The bar is pin supported at the ends and is...
-
On July 1, 2006, the federal government reduced the GST rate but raised the income tax rate in the lowest tax bracket to help make up for the lost revenues. Discuss the possible effects of this...
-
Amy and Shirley both live two periods. Both have earnings of $1,000 in the present and zero in the future. The interest rate is 8 percent. Suppose that they are each subject to an income tax, and...
-
Today, we often take racial, gender, and religious equality for granted. But equality was not always the norm in our nation. In 1896, for example, the U.S. Supreme Court decided the controversial...
-
A vendor requires a deposit to be made for 50 percent of the final invoice amount before a custom order begins production. You will not receive the finalized goods until the vendor finishes producing...
-
Which statement best describes the AICPA interpretation relating to preparation of financial statements? Explain
-
Your summary of what you would like to be doing 3-5 years after graduating with your Degree in Business Administration , then begin the process of applying what you hope to learn in this Accounting 2...
-
How to define terms morbidity, mortality, surgical site infection, healthcare associated infections, and complication. Also how to define terms epidemiology,incidence rate, prevalence rate, abortion...
-
How does the concept of the "unreliable narrator" function in Vladimir Nabokov's "Lolita," and what implications does it have for the reader's interpretation of the narrative and moral judgments?
-
Describe a region-based organization and a matrix organization structure.
-
Uniform electric field in Figure a uniform electric field is directed out of the page within a circular region of radius R = 3.00 cm. The magnitude of the electric field is given by E = (4.50 x 10-3...
-
Illustrate the concept that segmenting is an aggregating process by referring to the admissions policies of your own college and a nearby college or university.
-
Consider the market for off-campus apartments in your city. Identify some submarkets that have different needs and determining dimensions. Then evaluate how well the needs in these market segments...
-
Explain how positioning analysis can help a marketing manager identify target market opportunities.
-
4- In an electrostatic precipitator (ESP) system, dielectric constant is 6 and local field strength is 350 kV/m. Collecting area to flowrate ratio is found to be 10 s/m. Calculate the individual and...
-
What is the basic purpose of construction joints?
-
Reinforcing bars are nominated on drawings using a particular convention. Explain this with an example ?
Study smarter with the SolutionInn App