Question: Bridge Corp. operates in Alberta (a province that does not have PST or HST) and sells only fully taxable and zero-rated supplies. Bridge Corp. reports

 Bridge Corp. operates in Alberta (a province that does not have

Bridge Corp. operates in Alberta (a province that does not have PST or HST) and sells only fully taxable and zero-rated supplies. Bridge Corp. reports the following amounts (net of any GST collected or paid) in its financial records for the current year: Sales $1,250,000 ($1,005,000 of sales was fully taxable supplies, the remaining was zero-rated) Cost of Goods Sold $ 810,000 (purchases of merchandise exceeded Cost of Goods Sold by $120,000, all merchandise purchased and sold was fully taxable supplies) Depreciation expense $ 150,000 Salaries and wages $ 270,000 Capital expenditures $ 100,000 (purchase of furniture & fixtures used 70% for fully taxable supplies and 30% for zero-rated supplies) Which of the following is the correct amount of GST payable (or refund) for Bridge Corp. in the current year? O A. $11,000 GST payable OB. $4,000 GST refund OC. $1,250 GST refund OD. $3,750 GST payable

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