Loftus Inc, located in Edmonton, Alberta, sells office furniture to local businesses in Alberta. Their...
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Loftus Inc, located in Edmonton, Alberta, sells office furniture to local businesses in Alberta. Their sales have never been in excess of $ annually. Alberta does not charge a provincial sales tax, thus the corporation is only charged a GST Loftus has chosen to file its GST returns on a quarterly basis and has elected to use the quick method to file its GST returns. The following information relates to the first quarter of : See picture attached REQUIRED a Based on the information provided, determine the GST owing or refundable during the first quarter of using the Quick Method b Based on the information provided, determine the GST owing or refundable during the first quarter of assuming the company uses the regular method of calculating GST instead. 
Loftus Inc, located in Edmonton, Alberta, sells office furniture to local businesses in Alberta. Their sales have never been in excess of $ annually. Alberta does not charge a provincial sales tax, thus the corporation is only charged a GST
Loftus has chosen to file its GST returns on a quarterly basis and has elected to use the quick method to file its GST returns. The following information relates to the first quarter of : See picture attached
REQUIRED
a Based on the information provided, determine the GST owing or refundable during the first quarter of using the Quick Method
b Based on the information provided, determine the GST owing or refundable during the first quarter of assuming the company uses the regular method of calculating GST instead.
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