If the sales tax is 6% and the purchase price is $193, what is the amount of tax?

Q: If you get paid $5,460 per month gross and 10% of that paycheck was chheld for federal income taxes…

A: Monthly gross income = $5,460 Federal income taxes = 10% State income taxes = 6%

Q: Given the following tax structure: Salary $ 27,000 $ 45,000 Taxpayer Mae Pedro Required: a. What is…

A: Progressive vs Regressive Tax In contrast to regressive taxes, which have the opposite effect,…

Q: suppose company has $13 in taxable income after consideration $6 of tax privileges (so, companyis…

A: Tax is the fixed percentage portion of income being paid to the government as the part of their…

Q: Calculate the a) total tax rate, and b) sales tax. 1. Item Clothing Cell Phone MP3 Player Computer…

A: A tax that is paid to an authority for the sale of goods and services is known as a sales tax.…

Q: ents to his purchases and if yes, how will he adjust? If no, why not? 3. Overall, who is impacted…

A: The sales tax on any sale of goods and services impacts consumer choices by affecting their buying…

Q: Use the following information for Taco Swell, Incorporated, (assume the tax rate is 21 percent):…

A: Income and balance sheet statements:

Q: if you have a percentage tax due of 70,000, is this monthly or quartelry paid to BIR

A: Given in the question: Percentage tax due is 70,000 Taxes have to be paid to the department of tax…

Q: From the data:   May 2 - On sale to the public               Purchase price, VAT not included…

A: Value Added Tax is referred to as VAT. The value contributed to goods and services at each level of…

Q: Using the following table, calculate the taxes for an individual with taxable income of $25,800.…

A: Tax is the amount of money paid by a tax payer to the appropriate tax authorities on the basis of…

Q: income if you save $170 per pay period after pa Net Pay & Spendable Income Net pay Spendable income

A: Net pay per pay period can be calculated by deducting tax from gross pay per pay period Spendable…

Q: A VAT Taxpayer had the following data on sales and purchases of a month, value-added tax not…

A: VAT refundable states that the taxpayer has paid in excess amount of money during the tax period as…

Q: There is a sales tax of 24 on an item that costs 276 before tax. A second item costs $218.50 before…

A: Sales tax percentage = Sales tax amount/cost before tax

Q: Based on the following data, calculate the items requested: Buying Costs Rental Costs Annual rent…

A: Solution:a.  Total rental cost Particulars A,mount $Rent $ 8,180Insurance $ 225Interest on security$…

Q: If Pepper would report according to FIFO method, what would be the reported inventories, net income…

A: Inventories can be defined as the current assets held by the business entity for the purpose of…

Q: A tax credit of $100 for a person in a 24 percent tax bracket would reduce a person's taxes owed by:…

A: Tax credit = $100 Tax rate = 24%

Q: If you are self-employed and earn $260,000, what are your FICA taxes

A: Tax is the charges levied by the central and state government on the net income, sale or capital…

Q: for Schedule C in individual income tax, how do I calculate the expense for transportation of 5725…

A: Deductible expenses in respect of gifts = $ 400.

Q: How will I calculate a 2% decrease in gross margin and 2% decrease in tax rate

A: According to the question given, we need to prepare the projected income statement.Since it is a…

Q: You have some property which has an assessed value of $240,900. If the tax rate is 56.40 mills,…

A: Introduction  The mill rate is based on mills which is derived from Latin word millesimal which…

Q: Ali, a consumer, buys electronics worth $20,000, while Consumer Jumabuys for $45,000 and Consumer…

A: VAT is Value added tax which is consumption based tax. In various countries it is alternative for…

Q: Which of the following is the tax rate for Social Security? 10.1 % 6.2% 13.7 % 4.5%

A: The objective of the question is to identify the correct tax rate for Social Security among the…

Q: Oakdale Fashions, Inc. had $245.000 in 2018 taxable income. Using the tax schedule in Table 2.3 to…

A: Average tax rate = (Total Taxes / Total Taxable Income) * 100 Marginal Tax rate = Amount of…

Q: I. X, taxi operator, with gross receipts of 2M only, can avail the 8% optional income tax rate. II.…

A: Taxation Optional Scheme to Pay 8% on Gross Receipt  Mode of Tax Payment

Q: some property which has an assessed value of $240,500. If the tax rate is 65.90 mills, calculate the…

A: There are taxes to be paid on the property according the prevailing tax rate and amount of tax due…

Q: Business taxpayers with annual sales or receipts higher than the VAT threshold who opted to register…

A: Answer to the above case study is option e)  All of the other choices is incorrect. Detailed…

Q: Which of the following Excel functions can you apply to determine a deduction amount using the…

A: Tax is the amount taken by the government on the income of individuals. Tax is charged from…

Q: The original price of an item was $146. Given that the total price with tax was $156.45, determine…

A: Original Price after tax = op = $146Total Price Before Tax = tp = $156.45

Q: Which one of the following amounts represents the maximum amount that you may deduct for moving…

A: Moving expenses: These are the expenses associated related to your moving your household’s goods and…

Q: 3. When a taxpayer's income increases by $2,500 and the taxes owed increase from $13,899 to $14,399,…

A: Income tax refers to compulsory payment made to government with persons having higher income…

Q: Match the appropriate parts of tax for the following purchase. You purchase a new pair of shoes for…

A: Tennessee State Sales Tax The sale of goods and services inside the state of Tennessee is subject to…

Q: What is the alternative minimum tax (AMT) rate for individuals? 1%. 7%. 12.3%. 20%.

A: The term"  minimal tax rate" generally refers to the smallest chance of income or other fiscal…

Q: A customer makes a taxable purchase of 44,000. Assuming the applicable sales tax rate is 8.75%, how…

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

Q: If you would have to pay $5,000 in taxes on $50,000 taxable income and $8,000 in taxes on $60,000…

A: A tax is an amount of money that is owed by the public to the government. Taxes are levied by the…

Q: If your gross salary is $273 000 and your taxable income is $73 000 and your tax rate is 25% how…

A: A tax is a necessary contribution or financial charge levied by the government on the income earned…

Q: The optional 8% tax under the TRAIN law is based on- *   The gross income from business The total…

A: Tax means the mandatory payment made by assesse to the government without expecting anything…

Q: 1. Show that a 20% retail sales tax is regressive by putting numbers in the following table. Income…

A: Regressive Tax:  In regressive taxation a fixed rate of Tax is charged. It does not consider the…

Q: You just completed your taxes and had $3,79 withheld for income taxes and a final tax liability of…

A: A tax refund seems to be the difference between the total amount of tax paid and the total amount of…

Q: 4. Mahmood buys a commodity from the wholesaler at OMR 1,200 and was charged by a VAT at the rate…

A: given that, Mahmood buys a commodity from the wholesaler at OMR1200 Mahmood sells a commodity at…