John's Tees sells only fully taxable t-shirts to customers in Ontario where the HST rate...
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Accounting
John's Tees sells only fully taxable t-shirts to customers in Ontario where the HST rate is 13%. In Ontario, the Quick Rate for businesses that purchase goods for resale is 4.4%. During the first quarter of the year, John's Tees has sales of $61000, before HST. Current expenses, all of which were subject to HST, total $50000 (before HST). Due to a major renovation of the store, John's Tees has capital expenditures of $2400 (before HST). Using the Quick Method, determine the HST that is payable for the quarter.
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