Sudbury Outdoor Wear sells a line of specialized clothing to customers in their local area. For the

Question:

Sudbury Outdoor Wear sells a line of specialized clothing to customers in their local area. For the calendar year 2016, the company sold $325,000 worth of clothing before taxes. HST in Ontario is 13%. The company has elected to use the quick method of accounting for HST, and the applicable rate for Ontario is 4.4%. How much HST must the company send to the federal government for this year?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

College Accounting A Practical Approach

ISBN: 978-0133133233

12th Canadian edition

Authors: Jeffrey Slater, Brian Zwicker

Question Posted: