Erin's Hair Styling files GST returns quarterly. During the first quarter of the year, Erin billed customers for a total of $12,500 and then added the GST. In the same period, Erin paid $2500 to suppliers and $6000 for rent, plus the GST on these goods and services. What GST must Erin remit to the Canada Revenue Agency for the last quarter? O $200 O $625 O $385 O $425

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Erin's Hair Styling files GST returns quarterly. During the first quarter of the year, Erin billed customers for a total of $12,500 and then added the GST. In
the same period, Erin paid $2500 to suppliers and $6000 for rent, plus the GST on these goods and services. What GST must Erin remit to the Canada
Revenue Agency for the last quarter?
O $200
O $625
O $385
O $425
Transcribed Image Text:Erin's Hair Styling files GST returns quarterly. During the first quarter of the year, Erin billed customers for a total of $12,500 and then added the GST. In the same period, Erin paid $2500 to suppliers and $6000 for rent, plus the GST on these goods and services. What GST must Erin remit to the Canada Revenue Agency for the last quarter? O $200 O $625 O $385 O $425
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