A customer makes a taxable purchase of 44,000. Assuming the applicable sales tax rate is 8.75%, how much will the customer owe?Please round your answer to the nearest whole dollar. Do not include dollar signs.O 47,454O 44,00048,750none of the above

Taxes are levied on taxable supply. In the question the given details areTaxable purchase =…

Answered: A customer makes a taxable purchase of…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

A customer purchases $28.14 in prodcts only $12.83 is taxable. How much sales tax is owed if the tax rate is 10%?
A customer paid a total of $7700 for a purchase, including 13% HST (Harmonized Sales Tax). How much was the HST? 1. $911 2. $6885 3. $886 4. $7700
A customer purchases $28.14 in products only $12.83 is taxable. How much sales tax is owed if the tax rate is 10%.
With the following data, compute the NET FUTA Tax. Gross FUTA Tax DUE $ 6,750 Credit against FUTA (assume applicable) $3,100 Group of answer choices $3,100 $7,000 $3,650 $6,750
Calculate the tax rate if the tax amount is $ 64.50 on a purchase of $780?
If the sales tax is 6% and the purchase price is $193, what is the amount of tax?
QUESTION 1 a.) A second dealer buys a used fridge from a non-vendor for NAD 600 for resale. He pays the person NAD 400 immediately and the balance of NAD 200 in the next VAT period. Calculate the input tax that the second hand dealer will be entitled to claim ?
A retailer buys a product from the wholesaler at 120 OMR and wholesaler charges sales tax of 8%. The retailer fixes the price at 180 OMR to the customer at the same tax rate. How much VAT does the retailer pay to the government? O a. 24 OMR O b. 4.8 OMR 14.4 OMR O d. 9.6 OMR
There is a sales tax of 24 on an item that costs 276 before tax. A second item costs $218.50 before tax. What is the sales tax on the second item?
1. What self-employment tax rate is applied to earnings that exceed $142,800 in a year and also do NOT exceed the additional Medicare tax threshold? Answer: A. 15.3% B. 12.4% C. 2.9% D. 1.45% 2. What is the standard credit applied to the FUTA tax rate in non-credit reduction states? Answer: A. 0.6% B. 0.9% C. 5.4% D. 6% 3. An employer in a non-credit reduction state would pay FUTA taxes of _____ for an employee whose year-to-date earnings prior to the current period are $7,200 and who earns $1,100 during the current period. Answer: A. $0 B. $6.60 C. $43.20 D. $49.80
In application for VAT refunds due from input tax on zero-rated sale, the BIR is expected to make refund within _____ days: 30 90 120 60
In the quarter ended 31 March 20X2, Chas had taxable sales, net of sales tax, of $90,000 and taxable purchases, net of sales tax, of $72,000. If the rate of sales tax is 10%, how much sales tax is due? A $1,800 receivable В $2,000 receivable C $1,800 payable D $2,000 payable

SEE MORE QUESTIONS

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS

A customer makes a taxable purchase of 44,000. Assuming the applicable sales tax rate is 8.75%, how much will the customer owe? Please round your answer to the nearest whole dollar. Do not include dollar signs. O 47,454 O 44,000 O 48,750 O none of the above