WebThe HST program aims to combine both federal GST and PST to become one standard rate to promote consistency and improve the efficiency of sales tax collection. The … WebTranscribed image text: A business had the following balances on the day it was to remit HST to the 1 point government: HST Recoverable $3150; HST Payable $4618. How …
Quick Method of Accounting for GST/HST - Canada.ca
Web17 jan. 2024 · Some provinces have harmonized the sales tax (known as HST) and collect just one tax together with the GST. For example, Ontario collects HST at a rate of 13% and this is administered by CRA. Corporate taxes payable to CRA usually appear on a separate line on the Balance Sheet. WebTwo money columns: one for debit, other for credit. 2. Columns for: date, particulars (account name & explanation), and P.R. 3. Blank lines btw each transaction to separate … fromm organic dog food
katerina google sheet template.xlsx - HST CH 6 Assignment...
WebThe rate for HST is 13%. Calculate and add the HST on all sales and purchase transactions. The next page number of the journal is 16. (10 marks) Transactions ec 'S 1 Oct 6 10 12 Sales Invoice No. 617 to Jack Morrison, $250.90 plus taxes. Cheque Copy No. 910 to Industrial Suppliers, $500 on account. WebDefinitions. Basic tax content of a property generally means the amount of GST/HST that was payable for the last acquisition of the property, and for any improvements made to the property since that last acquisition, less any amounts that were, or would have been, able to be recovered (for example, by rebate or remission, but not by input tax credits (ITC)). Web1 dec. 2024 · Expert Answer. General Journal Date Particulars Debit Credit 1-Dec Rent Exp. 900.00 HST Recoverable (900 x 13%) 117.00 Bank 1,017.00 …. View the full answer. Transcribed image text: BATAM Unit 1 Activity 2 Assignment 1 The following is the trial balance as at December 1, 2024 for Ken's Barber Shop. Credit Bank Accounts … from moody to graham