mc_q_04_09

mc_q_04_09 - MULTIPLE CHOICE QUESTIONS Q04. Among the...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
MULTIPLE CHOICE QUESTIONS Q04. Among the purchases Underwater World Ltd. made during December 2008, were the following items: Item Price Before GST and PST New motor for Dinghy #1 $7,000 New snorkelling equipment (for charter trips) 400 Ski club membership (for the president) 700 Membership to Waterways Ltd. (Waterways 500 carries supplies for charter boat operators) The input tax credits that Underwater World Ltd. can claim for the above items for December 2008 are: (a) $430 (b) $80 (c) $45 (d) $395 Q05. A summary of the transactions for Paddy's Cycle Shop for the month of July 2008 is: Account Amount, Net of GST and PST Revenues $300,000 Purchase of bicycles 150,000 Purchase of tires and other parts 20,000 Salaries 8,000 Premise rental 3,000 Bad debt recovered 1,500 The GST that is to be remitted in respect of the above transactions is: (a) $5,950 (b) $6,425 (c) $6,350 (d) $6,025 Q06. Eds Appliances Ltd. (Eds) sold a furnace to a customer in October 2008 for $10,000. The mark-up on the furnace was 100%.
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 3

mc_q_04_09 - MULTIPLE CHOICE QUESTIONS Q04. Among the...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online