Multiple Choice
Bobs Bites has an HST Recoverable amount of $ 15,000 and an HST Payable amount of $ 10,000 at the end of the quarter. What should they do?
A) Pay the amount of HST payable of $ 10,000 and request a refund of $ 15,000.
B) File the quarterly return and request a refund of $ 5,000.
C) Pay the amount of HST payable of $ 10,000.
D) Delay filing their quarterly return until the next quarter when additional HST payable amounts are expected to offset the recoverable amount.
Correct Answer:

Verified
Correct Answer:
Verified
Q132: KPop estimates their embossing machine will last
Q133: For each of the following accounts below,
Q134: The sales journal is used to record
Q135: Strategic Services gives RGI Consulting a $
Q136: The advantages of subsidiary ledgers include all
Q138: A $ 100,000, 5-year bond with an
Q139: Your company is getting to ready to
Q140: An annuity is<br>A) a series of equal
Q141: HST is a combined or harmonized tax
Q142: Each general ledger control account does not