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HST receivable refers to the amount of Harmonized Sales Tax (HST) that a business has collected from its customers but has not yet remitted to the government. It is recorded as an asset on the company's balance sheet, reflecting the expectation of receiving payment from the government for the tax collected. Businesses can reclaim this amount when filing their tax returns, effectively reducing their overall tax liability.
What else can I help you with?
How do you post a journal entry for a HST refund?
To post a journal entry for a HST (Harmonized Sales Tax) refund, first, debit the HST receivable account to reflect the amount being refunded. Next, credit the cash or bank account to indicate the cash received from the tax authority. Ensure to include a clear description of the transaction for record-keeping purposes. Finally, verify that the amounts are accurate and compliant with accounting standards.
What is the difference between Receivable and account Receivable?
Account receivable are usually currant assets that arise from selling merchandise or providing services to customer on credit . Accounts receivable are also known as trade receivable . receivable is the term that refers to both trade receivable and non trade receivable . By Mr safiullah Zarif
Do you put GST or HST on the balance sheet?
HST paid goes on the credit side or expenses on the balance sheet
Is income tax receivable a trade receivable?
nontrade
What are average accounts receivable?
what is average account receivable
How do you post a journal entry for a HST refund?
To post a journal entry for a HST (Harmonized Sales Tax) refund, first, debit the HST receivable account to reflect the amount being refunded. Next, credit the cash or bank account to indicate the cash received from the tax authority. Ensure to include a clear description of the transaction for record-keeping purposes. Finally, verify that the amounts are accurate and compliant with accounting standards.
When was the HST created?
1975 - 1982 Was The Build Date Of The HST
What is the difference between the HST and other land telescopes?
the hst is in space....
Is gst or hst included in mileage reimbursement?
Is hst included in mileage reimbursement
What time in Hst at 6 pm est?
1 PM HST. 5 hours difference between East Coast & HST right now.
What time is 1300 CST in HST?
1300 CST (Central Standard Time) is 9:00 AM HST (Hawaii-Aleutian Standard Time). CST is 10 hours ahead of HST. Therefore, to convert from CST to HST, you subtract 10 hours.
When was the hubbe speca telescopes HST first launchad into orbit?
The HST was only launched once, in 1990 .
What is the difference between range rover hse and hst?
difference between Range Rover HSE / HST
What is the difference between Receivable and account Receivable?
Account receivable are usually currant assets that arise from selling merchandise or providing services to customer on credit . Accounts receivable are also known as trade receivable . receivable is the term that refers to both trade receivable and non trade receivable . By Mr safiullah Zarif
Is HST still working?
No, the Hubble Space Telescope (HST) is currently experiencing technical difficulties after a problem with its payload computer. NASA is working to resolve the issue and bring HST back online.
What was DDE's predecessor?
hst
How much is the hst?
It is 13%
