Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A) The selling price of an Air Cooler is RO 120. The mark up is 55% on the selling price. The operating expenses are 35%

A) The selling price of an Air Cooler is RO 120. The mark up is 55% on the selling price. The operating expenses are 35% of the cost. a) What is the mark up? b) What is the cost of the Air Cooler? c) Find the rate of mark up on cost. d) Find the operating expense. B) A retailer sells an article for RO 820 to the buyer and charges sales tax at a rate of 20%. If the retailer has to pay a value added tax of RO 12.600, find; a) The input tax b) The list price of the product the wholesaler sold to retailer c) The amount paid by the retailer to the wholesaler.

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_2

Step: 3

blur-text-image_3

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

More Books

Students also viewed these Accounting questions

Question

Apply your own composing style to personalize your messages.

Answered: 1 week ago

Question

Format memos and e-mail properly.

Answered: 1 week ago