FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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LeMond Incorporated, a Wisconsin corporation, runs bicycle tours in several states.
LeMond also has a Wisconsin retail store and an Internet store that ships to out-of-state
customers. The bicycle tours operate in Colorado, North Carolina, and Wisconsin, where
LeMond has employees and owns and uses tangible personal property. LeMond has real
property only in Wisconsin and logs the following sales:
State
Arizona
California
Colorado
North Carolina
Oregon
Wisconsin
Totals
State
Arizona
California
Colorado
LeMond Sales
North Carolina
Oregon
Wisconsin
Goods
$ 34,194
110,612
25,913
16,721
15,431
241,982
$ 444,853
Sales and
Use Tax
Services
Prev
Assume the following hypothetical tax rates: Arizona (5.6 percent), California (7.75
percent), Colorado (8 percent), North Carolina (6.75 percent), Oregon (no sales tax), and
Wisconsin (5 percent). How much sales tax must LeMond collect and remit, assuming
these states, have adopted Wayfair legislation?
Note: Round your final answers to the nearest whole dollar amount. Leave no answer
blank. Enter zero if applicable.
$0
0
356,084
225, 327
0
877,441
$ 1,458,852
11 of 10
Total
$ 34,194
110,612
381,997
242,048
15,431
1,119,423
$ 1,903,705
Next
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Transcribed Image Text:LeMond Incorporated, a Wisconsin corporation, runs bicycle tours in several states. LeMond also has a Wisconsin retail store and an Internet store that ships to out-of-state customers. The bicycle tours operate in Colorado, North Carolina, and Wisconsin, where LeMond has employees and owns and uses tangible personal property. LeMond has real property only in Wisconsin and logs the following sales: State Arizona California Colorado North Carolina Oregon Wisconsin Totals State Arizona California Colorado LeMond Sales North Carolina Oregon Wisconsin Goods $ 34,194 110,612 25,913 16,721 15,431 241,982 $ 444,853 Sales and Use Tax Services Prev Assume the following hypothetical tax rates: Arizona (5.6 percent), California (7.75 percent), Colorado (8 percent), North Carolina (6.75 percent), Oregon (no sales tax), and Wisconsin (5 percent). How much sales tax must LeMond collect and remit, assuming these states, have adopted Wayfair legislation? Note: Round your final answers to the nearest whole dollar amount. Leave no answer blank. Enter zero if applicable. $0 0 356,084 225, 327 0 877,441 $ 1,458,852 11 of 10 Total $ 34,194 110,612 381,997 242,048 15,431 1,119,423 $ 1,903,705 Next
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