The sales tax in Massachusetts is 6.25%. If the tax on an item is $25.75, what is the cost of the item?
The sales tax in Massachusetts is 6.25%. If the tax on an item is $25.75, what...
Sales Tax Write a program that will compute the sales tax of an item and the total cost of the item with the sales tax. Then, print out the tax and the total cost. The input will be the cost of the item. The tax rate is 8%. Use the float registers and float values. The answer will be represented with 8 place values to the right of the decimal point - with an extraneous value in the 8th decimal...
(Sales price is $100, sales tax is $7.25 and the item sold has a cost of $75 what would be the journal entry for this transaction.
Massachusetts Senator and one-time presidential candidate John Kerry understand the concept of tax avoidance. Kerry avoided paying $500,000 in taxes in Massachusetts by docking his yacht in Rhode Island. Rhode Island repealed sales taxes and annual excise taxes on yachts in 1993, making “the state something of a nautical tax haven.” Discuss the likely behavior changes of yacht-owning Massachusetts residents if Massachusetts lowered its tax rates on yachts, and how these changes would affect Massachusetts’s tax revenue. (Lenght 150 -...
Chapter 1, Section 1.1, Question 042 The sales tax on an item is 5%. Express the total cost, C, in terms of the price of the item, P. 2 Edit
The tax on a $50 item is $2.50. Find the tax on a $110 item.
what is original price of an item if the after tax price is $450 . consider 13% tax
Discuss sales tax and how QuickBooks makes the process easier. Explain how tax is set up in QuickBooks (hint: a sales tax "item:"). Can multiple items for sales tax be set up? If so, why would a company want to do so? Demonstrate how to create a sales tax group.
you sell an item for $200 with 5% sales discount what is the entry?
One inventory item has a sales price of $ 26.62 and selling expenses of $ 7.97. The replacement cost of the item is $ 13.32 and the original cost was $ 25.59. The normal profit margin on this item is $ 1.70. If there are 2860 units on hand, at what amount will inventory be recorded on the balance sheet? Select one: a. $73187 ob. $48477 O c. $53339 d. $38095 Check
5 points Item Skipped eBook Print References Item 20 Item 20 5 points Item Skipped Oakdale Fashions, Inc.’s, 2021 income statement is reported below. (Use corporate tax rate of 21 percent for your calculations.) Oakdale Fashions, Inc., Income Statement for 2021 Net sales (all credit) $ 595,000 Less: Cost of goods sold 227,000 Gross profits $ 368,000 Less: Other operating expenses 102,000 EBITDA $ 266,000 Less: Depreciation and amortization 16,200 EBIT $ 249,800 Less: Interest 83,000 EBT $ 166,800 Less:...