Question: Bridge Corp. operates in Alberta ( a province that does not have PST or HST ) and sells only fully taxable and zero - rated
Bridge Corp. operates in Alberta a province that does not have PST or HST and sells only fully taxable and zerorated supplies. Bridge Corp. reports the following amounts net of any GST collected or paid in its financial records for the current year:
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Among the sales, $ was fully taxable supplies and the remaining was zerorated. Purchases of merchandise exceeded Cost of Goods Sold by $ and all merchandise purchased and sold was fully taxable supplies. The purchase of furniture and fixtures used for fully taxable supplies and for zerorated supplies.
Which of the following is the correct amount of GST payable or refund for Bridge Corp. in the current year?
A$ GST refund
B$ GST payable
C$ GST payable
D$ GST refund
Information
Sales
$
Cost of Goods Sold
$
Depreciation expense $
Salaries and wages
$
Capital expenditures $
Plz explain me with the detailed solving process to understand and get the answer. Thanks
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