L VALUE OF SHIPMENT , CIF MONTREAL , CDN $100,000 RATE OF CUSTOMS DUTY: 10% RATE OF GST : 5% INTERNATIONAL INSURANCE: CDN $2000 INTERNATIONAL FREIGHT: CDN $3000 DOMESTIC INSURANCE: CD

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Please calculate the VCC, VFD, TVFD for this imported consignment of TV's from Japan

TOTAL VALUE OF SHIPMENT , CIF MONTREAL , CDN $100,000

RATE OF CUSTOMS DUTY: 10%

RATE OF GST : 5%

INTERNATIONAL INSURANCE: CDN $2000

INTERNATIONAL FREIGHT: CDN $3000

DOMESTIC INSURANCE: CDN $1000

DOMESTIC FREIGHT: CDN $3000

SELLING COMMISSION: CDN $5000

BUYING COMMISSION: $3000

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