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Author Question: Certify Auto Repair (CAR) files GST returns annually. In 2012, CAR billed its customers $195 432 for ... (Read 85 times)

LaDunn

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Question 1

Kim invested $7500 in a business for 3 months. She withdrew $2500 at the start of the fourth month and kept the rest of the money in the savings account for the remaining 9 months in the year. What is Kim's average monthly investment balance for the year?
◦ $833
◦ $5000
◦ $5625
◦ $1042
◦ $3750

Question 2

Certify Auto Repair (CAR) files GST returns annually. In 2012, CAR billed its customers $195 432 for labour, $24 732 for parts, and then added the GST. During this year, CAR paid $19 785 for parts, $36 000 for rent, $9767 for utilities, and $21 873 for shop repairs, plus the GST on these goods and services. What GST must be remitted (or refunded by the CRA) for the year 2012?


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Marked as best answer by LaDunn on Jun 6, 2019

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