Uploaded by Tabrezir Mahmood

Practice Quiz - Taxes - Business Mathematics

advertisement
Question 1
2 / 2 points
Sawchuk's Home and Garden Centre in Toronto files monthly HST returns. The purchases on which it paid the HST and
were as follows: (assume HST in Toronto is 13%)
Month
Purchases ($)
Sales ($)
April
213,425
205,170
Based on an HST rate of 13%, calculate the HST remittance or refund due for each month
Calculate the difference between GST Collected on Sales and GST Paid on Purchases?
-1,186
-1,352
-1,073
-1,247
Question 2
2 / 2 points
Johnston Distributing Inc. files quarterly GST returns (GST 5%). The purchases on which it paid the GST and the sales on
Quarter
Purchases ($)
Sales ($)
1
596,476
751,841
Calculate the difference between GST Collected on Sales and GST Paid on Purchases by the
business.
8544
8868
7768
9127
Question 3
2 / 2 points
Sawchuk's Home and Garden Centre in Toronto files monthly HST returns. The purchases on which it paid the HST and
were as follows: (assume HST in Toronto is 13%)
Month
Purchases ($)
Sales ($)
June
153,715
268,590
Based on an HST rate of 13%, calculate the HST remittance or refund due for each month
Calculate the difference between GST Collected on Sales and GST Paid on Purchases?
14,934
17,934
16,881
15,969
Question 4
2 / 2 points
Sawchuk's Home and Garden Centre in Toronto files monthly HST returns. The purchases on which it paid the HST and
were as follows: (assume HST in Toronto is 13%)
Month
Purchases ($)
Sales ($)
May
176,730
313,245
Based on an HST rate of 13%, calculate the HST remittance or refund due for each month
Calculate the difference between GST Collected on Sales and GST Paid on Purchases?
18,747
17,747
16,747
19,747
Question 5
2 / 2 points
Sawchuk's Home and Garden Centre in Toronto files monthly HST returns. The purchases on which it paid the HST and
were as follows: (assume HST in Toronto is 13%)
Month
Purchases ($)
Sales ($)
March
135,650
57,890
Based on an HST rate of 13%, calculate the HST remittance or refund due for each month
Calculate the difference between GST Collected on Sales and GST Paid on Purchases?
-12,108
-13,108
-10,108
-11,108
Question 6
2 / 2 points
Johnston Distributing Inc. files quarterly GST returns (GST 5%). The purchases on which it paid the GST and the sales on
Quarter
Purchases ($)
Sales ($)
1
829,804
994,622
Calculate the difference between GST Collected on Sales and GST Paid on Purchases by the
business.
9,560
8,240
7,420
10,350
Question 7
2 / 2 points
Johnston Distributing Inc. files quarterly GST returns (GST 5%). The purchases on which it paid the GST and the sales on
Quarter
Purchases ($)
Sales ($)
1
823,268
1,231,916
Calculate the difference between GST Collected on Sales and GST Paid on Purchases by the
business.
18,565
22,384
20,432
21,829
Question 8
2 / 2 points
Johnston Distributing Inc. files quarterly GST returns (GST 5%). The purchases on which it paid the GST and the sales on
Quarter
Purchases ($)
Sales ($)
1
967,679
627,374
Calculate the difference between GST Collected on Sales and GST Paid on Purchases by the
business.
-17,015
-12,554
-16,112
-14,683
Attempt Score:16 / 16 - 100 %
Download