Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A retail store does not segregate sales and the amount of sales tax on sales. If the sales tax rate is 11% and the register

image text in transcribed
A retail store does not segregate sales and the amount of sales tax on sales. If the sales tax rate is 11% and the register total amounted to $156,500, what is the amount of the sales taxes owed to the taxing agency? Select one: O a. $6,825 O b. $6,500 c. $136,500 d. The answer does not exist O e. $130,000

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

Financial Accounting

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

6th Edition

9780470128848

More Books

Students also viewed these Accounting questions

Question

How has health psychology expanded into traditional health fields?

Answered: 1 week ago