Question: I need the solution and the answer of this question. I am in a hurry, so quick response will be appreciated. Thank you! Hyun Jin

 I need the solution and the answer of this question. I

I need the solution and the answer of this question. I am in a hurry, so quick response will be appreciated. Thank you!

Hyun Jin Ryu has just opened a repair shop in Nanaimo and has decided to use the quick method of GST. He has asked you to calculate his GST payable for his first reporting period and supplies you with the following information. None of the amounts include GST or PST. You are informed that the quick method rate is 3.6% for a service business in BC. Sales $130,000 Equipment purchased 15.170 Supplies purchased 10.100 Wages paid 17,000 Calculate Hyun's net GST. Enter your answer in whole numbers, do not use dollar signs or commas

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!