You are the purchasing agent for THE BRICK. You have acquired a great deal from a US supplier who is going out of business. "WOODEN KITCHEN TABLE SETS" are available at 50% of the regular price. But the goods must be imported before the end of February 2023 You contact the supplier and he informs you that the price of the SETS were $1800 and now are selling for $900.00 US each and you require 20000 sets Number of units: 20,000 Cost per unit: $900.00 USD Exchange rate: $1 USD = $1.46 CAD GST Rate: standard rate Certificate of origin not available (1) Complete the financial calculations VFCC, VFD, CD, VFT, GST and TDTP for this shipment. All calculation must be shown
You are the purchasing agent for THE BRICK. You have acquired a great deal from a US supplier who is going out of business. "WOODEN KITCHEN TABLE SETS" are available at 50% of the regular price. But the goods must be imported before the end of February 2023 You contact the supplier and he informs you that the price of the SETS were $1800 and now are selling for $900.00 US each and you require 20000 sets Number of units: 20,000 Cost per unit: $900.00 USD Exchange rate: $1 USD = $1.46 CAD GST Rate: standard rate Certificate of origin not available (1) Complete the financial calculations VFCC, VFD, CD, VFT, GST and TDTP for this shipment. All calculation must be shown
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
ChapterC: Inventory Methods
Section: Chapter Questions
Problem 2P: Use the information presented in Problem C-1 to solve this problem.
Bean Nursery sells bark to its...
Related questions
Question
SCENARIO
You are the purchasing agent for THE BRICK. You have acquired a great deal from a US
supplier who is going out of business. "WOODEN KITCHEN TABLE SETS" are available at 50%
of the regular price. But the goods must be imported before the end of February 2023
You contact the supplier and he informs you that the price of the SETS were $1800 and now are
selling for $900.00 US each and you require 20000 sets
Number of units: 20,000
Cost per unit: $900.00 USD
Exchange rate: $1 USD = $1.46 CAD
GST Rate: standard rate
Certificate of origin not available
(1) Complete the financial calculations VFCC, VFD, CD, VFT, GST and TDTP for this shipment. All calculation must be shown
![94-6
Tariff
Description of Goods
Item
9403.30.00 -Wooden furniture of a kind used in offices
SS
10-Desks
9403.60
20-Record-keeping equipment.
30-Tables...
90 ----Other.
9403.40.00 -Wooden furniture of a kind used in the kitchen
10--Kitchen cabinets.
90-Other.
9403.50.00 -Wooden furniture of a kind used in the bedroom
10-Cribs.
20-Bunk beds
90 -----Other.
CUSTOMS TARIFF - SCHEDULE
-Other wooden furniture
9403.60.10 ---For domestic purposes
10 -----Desks, excluding children's furniture..
-----Cabinets:
31 ------Medicine or vanity cabinets.
39 -Other...
40-Outdoor furniture
60-----Shelving.
70-Children's indoor furniture.
-----Other:
91---Living room furniture...
92 ------Dining room furniture...
99-Other...
Unit of
Meas.
MFN
Tariff
Free
9.5%
9.5%
9.5%
Applicable
Preferential Tariffs
CCCT, LDCT, GPT,
UST, MXT, CIAT, CT,
CRT, IT, NT, SLT, PT,
COLT, JT, PAT, HNT,
KRT, CEUT, UAT,
CPTPT, UKT: Free
CCCT, LDCT, UST,
MXT, CIAT, CT, CRT,
IT, NT, SLT, PT, COLT,
JT, PAT, HNT, KRT,
CEUT, UAT, CPTPT,
UKT: Free
GPT: 6%
CCCT, LDCT, UST,
MXT, CIAT, CT, CRT,
IT, NT, SLT, PT, COLT,
JT, PAT, HNT, KRT,
CEUT, UAT, CPTPT,
UKT: Free
GPT: 6%
CCCT, LDCT, UST,
MXT, CIAT, CT, CRT,
IT, NT, SLT, PT, COLT,
JT, PAT, HNT, KRT,
CEUT, UAT, CPTPT,
UKT: Free
GPT: 6%](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc00ae26c-5edd-4f66-a6d7-4fa650e4aaf5%2Fb84e5b1c-8969-4839-ab26-8d8dbaf8c62d%2F9l38hfh_processed.png&w=3840&q=75)
Transcribed Image Text:94-6
Tariff
Description of Goods
Item
9403.30.00 -Wooden furniture of a kind used in offices
SS
10-Desks
9403.60
20-Record-keeping equipment.
30-Tables...
90 ----Other.
9403.40.00 -Wooden furniture of a kind used in the kitchen
10--Kitchen cabinets.
90-Other.
9403.50.00 -Wooden furniture of a kind used in the bedroom
10-Cribs.
20-Bunk beds
90 -----Other.
CUSTOMS TARIFF - SCHEDULE
-Other wooden furniture
9403.60.10 ---For domestic purposes
10 -----Desks, excluding children's furniture..
-----Cabinets:
31 ------Medicine or vanity cabinets.
39 -Other...
40-Outdoor furniture
60-----Shelving.
70-Children's indoor furniture.
-----Other:
91---Living room furniture...
92 ------Dining room furniture...
99-Other...
Unit of
Meas.
MFN
Tariff
Free
9.5%
9.5%
9.5%
Applicable
Preferential Tariffs
CCCT, LDCT, GPT,
UST, MXT, CIAT, CT,
CRT, IT, NT, SLT, PT,
COLT, JT, PAT, HNT,
KRT, CEUT, UAT,
CPTPT, UKT: Free
CCCT, LDCT, UST,
MXT, CIAT, CT, CRT,
IT, NT, SLT, PT, COLT,
JT, PAT, HNT, KRT,
CEUT, UAT, CPTPT,
UKT: Free
GPT: 6%
CCCT, LDCT, UST,
MXT, CIAT, CT, CRT,
IT, NT, SLT, PT, COLT,
JT, PAT, HNT, KRT,
CEUT, UAT, CPTPT,
UKT: Free
GPT: 6%
CCCT, LDCT, UST,
MXT, CIAT, CT, CRT,
IT, NT, SLT, PT, COLT,
JT, PAT, HNT, KRT,
CEUT, UAT, CPTPT,
UKT: Free
GPT: 6%
![I
JE
21 LINE
LIGNE
27 CLASSIFICATION NO.
N° DE CLASSEMENT
37 VALUE FOR DUTY
VALEUR EN DOUANE
21 LINE
LIGNE
22 DESCRIPTION
DESIGNATION
OF
DE
WOODEN FURNITURE
27 CLASSIFICATION NO
N° DE CLASSEMENT
37 VALUE FOR DUTY
21 LINE
LIGNE
22 DESCRIPTION
DÉSIGNATION
VALEUR EN DOUANE
21 LINE
LIGNE
27 CLASSIFICATION NO.
N° DE CLASSEMENT
37 VALUE FOR DUTY
VALEUR EN DOUANE
22 DESCRIPTION
DÉSIGNATION
21 LINE
LIGNE
22 DESCRIPTION
DÉSIGNATION
27 CLASSIFICATION NO.
N° DE CLASSEMENT
37 VALUE FOR DUTY
VALEUR EN DOUANE
22 DESCRIPTION
DÉSIGNATION
27 CLASSIFICATION NO.
N° DE CLASSEMENT
DECLARATION - DÉCLARATION
37 VALUE FOR DUTY
VALEUR EN DOUANE
28 TARIFF CODE 29 QUANTITY
TARIFAIRE QUANTITÉ
DATE
38 CUSTOMS DUTIES
DROITS DE DOUANE
28 TARIFF CODE 29 QUANTITY
TARIFAIRE
QUANTITÉ
38 CUSTOMS DUTIES
DROITS DE DOUANE
28 TARIFF CODE 29 QUANTITY
TARIFAIRE QUANTITÉ
38 CUSTOMS DUTIES
DROITS DE DOUANE
28 TARIFF CODE 29 QUANTITY
TARIFAIRE QUANTITÉ
38 CUSTOMS DUTIES
DROITS DE DOUANE
28 TARIFF CODE 29 QUANTITY
TARIFAIRE QUANTITÉ
38 CUSTOMS DUTIES
DROITS DE DOUANE
PLEASE PRINT NAME LETTRES MOULÉES S.V.P.
IMPORTER/AGENT IMPORTATEUR / AGENT
SIGNATURE
30 U - M
39 SIMA ASSESSMENT
COTISATION DE LMSI
30 U - M
DECLARE THE PARTICULARS OF THIS DOCUMENT TO BE TRUE, ACCURATE AND COMPLETE.
DÉCLARE QUE LES RENSEIGNEMENTS CI-DESSUS SONT VRAIS ET COMPLETS.
30 U - M
23 WEIGHT/KGM
POIDS/KGM
31 VFD CODE 32 SIMA CODE
CODE VD CODE DE LMSI
39 SIMA ASSESSMENT
COTISATION DE LMSI
30 U - M
30 U - M
23 WEIGHT/KGM
POIDS/KGM
31 VFD CODE 32 SIMA CODE
CODE VD CODE DE LMSI
39 SIMA ASSESSMENT
COTISATION DE LMSI
23 WEIGHT/KGM
POIDS/KGM
40 EXCISE TAX
TAXE D'ACCISE
39 SIMA ASSESSMENT
COTISATION DE LMSI
23 WEIGHT/KGM
POIDS/KGM
31 VFD CODE 32 SIMA CODE
CODE VD CODE DE LMSI
39 SIMA ASSESSMENT
COTISATION DE LMSI
PREVIOUS TRANSACTION-TRANSACTION ANTÉRIEURE
24 NUMBER-NUMÉRO
25 LINE-LIGNE
40 EXCISE TAX
TAXE D'ACCISE
31 VFD CODE 32 SIMA CODE 33 RATE OF CUSTOMS DUTY
CODE VD CODE DE LMSI TAUX DE DROIT DE DOUANE
33 RATE OF CUSTOMS DUTY
TAUX DE DROIT DE DOUANE
23 WEIGHT/KGM
POIDS/KGM
33 RATE OF CUSTOMS DUTY
TAUX DE DROIT DE DOUANE
40 EXCISE TAX
TAXE D'ACCISE
PREVIOUS TRANSACTION-TRANSACTION ANTÉRIEURE
24 NUMBER-NUMERO
25 LINE-LIGNE
43 DEPOSIT-DÉPÔT
40 EXCISE TAX
TAXE D'ACCISE
33 RATE OF CUSTOMS DUTY
TAUX DE DROIT DE DOUANE
31 VFD CODE 32 SIMA CODE 33 RATE OF CUSTOMS DUTY
CODE VD CODE DE LMSI TAUX DE DROIT DE DOUANE
PREVIOUS TRANSACTION-TRANSACTION ANTÉRIEURE
24 NUMBER-NUMERO
25 LINE-LIGNE
34 E.T. RATE
TAUX T.A.
40 EXCISE TAX
41 VALUE FOR TAX
VALEUR POUR TAXE
TAXE D'ACCISE
34 E.T. RATE
TAUX T.A.
PREVIOUS TRANSACTION-TRANSACTION ANTÉRIEURE
24 NUMBER-NUMERO
25 LINE-LIGNE
46 CARRIER CODE AT IMPORTATION
CODE DE TRANSPORTEUR À L'IMPORTATION
41 VALUE FOR TAX
VALEUR POUR TAXE
34 E.T. RATE
TAUX T.A.
35 RATE OF GST 36 VALUE FOR CURRENCY CONVERSION
TAUX DE TPS CONVERSION VALEUR POUR CHANGE
34 E.T. RATE
TAUX T.A.
41 VALUE FOR TAX
VALEUR POUR TAXE
PREVIOUS TRANSACTION-TRANSACTION ANTÉRIEURE
24 NUMBER-NUMÉRO
25 LINE-LIGNE
34 E.T. RATE
TAUX T.A.
35 RATE OF GST 36 VALUE FOR CURRENCY CONVERSION
TAUX DE TPS CONVERSION VALEUR POUR CHANGE
44 WAREHOUSE NO. - N° D'ENTREPÔT
41 VALUE FOR TAX
VALEUR POUR TAXE
45 CARGO CONTROL NO. - N° DE CONTRÔLE DU FRET
35 RATE OF GST 36 VALUE FOR CURRENCY CONVERSION
TAUX DE TPS CONVERSION VALEUR POUR CHANGE
41 VALUE FOR TAX
VALEUR POUR TAXE
26 SPECIAL AUTHORITY
AUTORISATION SPÉCIALE
26 SPECIAL AUTHORITY
AUTORISATION SPÉCIALE
35 RATE OF GST 36 VALUE FOR CURRENCY CONVERSION
TAUX DE TPS CONVERSION VALEUR POUR CHANGE
50
42 GST
TPS
51
26 SPECIAL AUTHORITY
AUTORISATION SPÉCIALE
47 CUSTOMS
DUTIES
DROITS DE
DOUANE
GST
TPS
48 SIMA
ASSESSMENT
COTISATION
DE LMSI
TOTAL
42 GST
TPS
35 RATE OF GST 36 VALUE FOR CURRENCY CONVERSION
TAUX DE TPS CONVERSION VALEUR POUR CHANGE
49
EXCISE TAX
TAXE D'ACCISE
26 SPECIAL AUTHORITY
AUTORISATION SPÉCIALE
42 GST
TPS
26 SPECIAL AUTHORITY
AUTORISATION SPÉCIALE
42 GST
TPS
42 GST
TPS](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc00ae26c-5edd-4f66-a6d7-4fa650e4aaf5%2Fb84e5b1c-8969-4839-ab26-8d8dbaf8c62d%2F14gs4s_processed.png&w=3840&q=75)
Transcribed Image Text:I
JE
21 LINE
LIGNE
27 CLASSIFICATION NO.
N° DE CLASSEMENT
37 VALUE FOR DUTY
VALEUR EN DOUANE
21 LINE
LIGNE
22 DESCRIPTION
DESIGNATION
OF
DE
WOODEN FURNITURE
27 CLASSIFICATION NO
N° DE CLASSEMENT
37 VALUE FOR DUTY
21 LINE
LIGNE
22 DESCRIPTION
DÉSIGNATION
VALEUR EN DOUANE
21 LINE
LIGNE
27 CLASSIFICATION NO.
N° DE CLASSEMENT
37 VALUE FOR DUTY
VALEUR EN DOUANE
22 DESCRIPTION
DÉSIGNATION
21 LINE
LIGNE
22 DESCRIPTION
DÉSIGNATION
27 CLASSIFICATION NO.
N° DE CLASSEMENT
37 VALUE FOR DUTY
VALEUR EN DOUANE
22 DESCRIPTION
DÉSIGNATION
27 CLASSIFICATION NO.
N° DE CLASSEMENT
DECLARATION - DÉCLARATION
37 VALUE FOR DUTY
VALEUR EN DOUANE
28 TARIFF CODE 29 QUANTITY
TARIFAIRE QUANTITÉ
DATE
38 CUSTOMS DUTIES
DROITS DE DOUANE
28 TARIFF CODE 29 QUANTITY
TARIFAIRE
QUANTITÉ
38 CUSTOMS DUTIES
DROITS DE DOUANE
28 TARIFF CODE 29 QUANTITY
TARIFAIRE QUANTITÉ
38 CUSTOMS DUTIES
DROITS DE DOUANE
28 TARIFF CODE 29 QUANTITY
TARIFAIRE QUANTITÉ
38 CUSTOMS DUTIES
DROITS DE DOUANE
28 TARIFF CODE 29 QUANTITY
TARIFAIRE QUANTITÉ
38 CUSTOMS DUTIES
DROITS DE DOUANE
PLEASE PRINT NAME LETTRES MOULÉES S.V.P.
IMPORTER/AGENT IMPORTATEUR / AGENT
SIGNATURE
30 U - M
39 SIMA ASSESSMENT
COTISATION DE LMSI
30 U - M
DECLARE THE PARTICULARS OF THIS DOCUMENT TO BE TRUE, ACCURATE AND COMPLETE.
DÉCLARE QUE LES RENSEIGNEMENTS CI-DESSUS SONT VRAIS ET COMPLETS.
30 U - M
23 WEIGHT/KGM
POIDS/KGM
31 VFD CODE 32 SIMA CODE
CODE VD CODE DE LMSI
39 SIMA ASSESSMENT
COTISATION DE LMSI
30 U - M
30 U - M
23 WEIGHT/KGM
POIDS/KGM
31 VFD CODE 32 SIMA CODE
CODE VD CODE DE LMSI
39 SIMA ASSESSMENT
COTISATION DE LMSI
23 WEIGHT/KGM
POIDS/KGM
40 EXCISE TAX
TAXE D'ACCISE
39 SIMA ASSESSMENT
COTISATION DE LMSI
23 WEIGHT/KGM
POIDS/KGM
31 VFD CODE 32 SIMA CODE
CODE VD CODE DE LMSI
39 SIMA ASSESSMENT
COTISATION DE LMSI
PREVIOUS TRANSACTION-TRANSACTION ANTÉRIEURE
24 NUMBER-NUMÉRO
25 LINE-LIGNE
40 EXCISE TAX
TAXE D'ACCISE
31 VFD CODE 32 SIMA CODE 33 RATE OF CUSTOMS DUTY
CODE VD CODE DE LMSI TAUX DE DROIT DE DOUANE
33 RATE OF CUSTOMS DUTY
TAUX DE DROIT DE DOUANE
23 WEIGHT/KGM
POIDS/KGM
33 RATE OF CUSTOMS DUTY
TAUX DE DROIT DE DOUANE
40 EXCISE TAX
TAXE D'ACCISE
PREVIOUS TRANSACTION-TRANSACTION ANTÉRIEURE
24 NUMBER-NUMERO
25 LINE-LIGNE
43 DEPOSIT-DÉPÔT
40 EXCISE TAX
TAXE D'ACCISE
33 RATE OF CUSTOMS DUTY
TAUX DE DROIT DE DOUANE
31 VFD CODE 32 SIMA CODE 33 RATE OF CUSTOMS DUTY
CODE VD CODE DE LMSI TAUX DE DROIT DE DOUANE
PREVIOUS TRANSACTION-TRANSACTION ANTÉRIEURE
24 NUMBER-NUMERO
25 LINE-LIGNE
34 E.T. RATE
TAUX T.A.
40 EXCISE TAX
41 VALUE FOR TAX
VALEUR POUR TAXE
TAXE D'ACCISE
34 E.T. RATE
TAUX T.A.
PREVIOUS TRANSACTION-TRANSACTION ANTÉRIEURE
24 NUMBER-NUMERO
25 LINE-LIGNE
46 CARRIER CODE AT IMPORTATION
CODE DE TRANSPORTEUR À L'IMPORTATION
41 VALUE FOR TAX
VALEUR POUR TAXE
34 E.T. RATE
TAUX T.A.
35 RATE OF GST 36 VALUE FOR CURRENCY CONVERSION
TAUX DE TPS CONVERSION VALEUR POUR CHANGE
34 E.T. RATE
TAUX T.A.
41 VALUE FOR TAX
VALEUR POUR TAXE
PREVIOUS TRANSACTION-TRANSACTION ANTÉRIEURE
24 NUMBER-NUMÉRO
25 LINE-LIGNE
34 E.T. RATE
TAUX T.A.
35 RATE OF GST 36 VALUE FOR CURRENCY CONVERSION
TAUX DE TPS CONVERSION VALEUR POUR CHANGE
44 WAREHOUSE NO. - N° D'ENTREPÔT
41 VALUE FOR TAX
VALEUR POUR TAXE
45 CARGO CONTROL NO. - N° DE CONTRÔLE DU FRET
35 RATE OF GST 36 VALUE FOR CURRENCY CONVERSION
TAUX DE TPS CONVERSION VALEUR POUR CHANGE
41 VALUE FOR TAX
VALEUR POUR TAXE
26 SPECIAL AUTHORITY
AUTORISATION SPÉCIALE
26 SPECIAL AUTHORITY
AUTORISATION SPÉCIALE
35 RATE OF GST 36 VALUE FOR CURRENCY CONVERSION
TAUX DE TPS CONVERSION VALEUR POUR CHANGE
50
42 GST
TPS
51
26 SPECIAL AUTHORITY
AUTORISATION SPÉCIALE
47 CUSTOMS
DUTIES
DROITS DE
DOUANE
GST
TPS
48 SIMA
ASSESSMENT
COTISATION
DE LMSI
TOTAL
42 GST
TPS
35 RATE OF GST 36 VALUE FOR CURRENCY CONVERSION
TAUX DE TPS CONVERSION VALEUR POUR CHANGE
49
EXCISE TAX
TAXE D'ACCISE
26 SPECIAL AUTHORITY
AUTORISATION SPÉCIALE
42 GST
TPS
26 SPECIAL AUTHORITY
AUTORISATION SPÉCIALE
42 GST
TPS
42 GST
TPS
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