During a taxation period, Craibecor Ltd. purchased food products for $70,000 and paid for accounting services totalling $40,000. Grocery sales (Craibecor is a grocer) during this period totaled $140,000. All figures are taxes included. Ignore all other transactions during the period and assume the HST rate in effect is 13%. 

Calculate the net HST that must be remitted/(refunded) by Craibecor for the taxation period.

Answer rating: 100% (QA)

To calculate the net HST that must be remitted or refunded by Craibecor we need to calculate the HST ... View the full answer