Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

4. [0/1 Points] DETAILS PREVIOUS ANSWERS BRECMBC9 18.1.021. MY NOTES ASK YOUR TEACHER You are the owner of Cach, a chain of women's clothing

image text in transcribed

4. [0/1 Points] DETAILS PREVIOUS ANSWERS BRECMBC9 18.1.021. MY NOTES ASK YOUR TEACHER You are the owner of Cach, a chain of women's clothing boutiques. Your state has a sales tax of 7%, and your city has an additional sales tax of 1.5%. Each quarter you are responsible for making these tax deposits to the city and state. Last quarter your stores had total revenue, including sales tax, of $922,250. (a) How much of this revenue was sales (in $) and how much was sales tax (in $37 sales sales tax $ $ (b) How much sales tax (in $) should be sent to the city? x (c) How much sales tax (in $) should be sent to the state? Submit Answer

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamental Managerial Accounting Concepts

Authors: Thomas Edmonds, Christopher Edmonds, Bor Yi Tsay, Philip Olds

8th edition

978-1259569197

More Books

Students also viewed these Accounting questions

Question

What were the most critical moments during the project?

Answered: 1 week ago

Question

Which next project stages do you and your team need to prepare?

Answered: 1 week ago

Question

What has to be developed?

Answered: 1 week ago