John's Tees sells only fully taxable t-shirts to customers in Ontario where the HST rate is...

 

Transcribed Image Text:

John's Tees sells only fully taxable t-shirts to customers in Ontario where the HST rate is 13%. In Ontario, the Quick Rate for businesses that purchase goods for resale is 4.4%. During the first quarter of the year, John's Tees has sales of $61000, before HST. Current expenses, all of which were subject to HST, total $41000 (before HST). Due to a major renovation of the store, John's Tees has capital expenditures of $3000 (before HST). Using the Quick Method, determine the GST that is payable for the quarter. Round to the nearest dollar. Do NOT write commas, dollar signs, or decimals in your response. Your Answer: John's Tees sells only fully taxable t-shirts to customers in Ontario where the HST rate is 13%. In Ontario, the Quick Rate for businesses that purchase goods for resale is 4.4%. During the first quarter of the year, John's Tees has sales of $61000, before HST. Current expenses, all of which were subject to HST, total $41000 (before HST). Due to a major renovation of the store, John's Tees has capital expenditures of $3000 (before HST). Using the Quick Method, determine the GST that is payable for the quarter. Round to the nearest dollar. Do NOT write commas, dollar signs, or decimals in your response. Your Answer:

Answer rating: 100% (QA)

Answer is 2262 Working NOte John Tees On Output 13 ... View the full answer