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Problem 01-09 (Static) [LO 1-4] TR Company conducts business exclusively in State V. which levies a 5 percent sales and use tax on goods
Problem 01-09 (Static) [LO 1-4] TR Company conducts business exclusively in State V. which levies a 5 percent sales and use tax on goods purchased or consumed In-state. This year, TR bought equipment in State B. The cost of the equipment was $90,000, and TR paid $5,400 sales tax to State B. TR also bought machinery in State D. The cost of the machinery was $200,000, and TR paid $7,000 sales tax to State D. Required: a. How much use tax does TR Company owe to State V with respect to the equipment bought in State B? b. How much use tax does TR Company owe to State V with respect to the machinery bought in State D? Complete this question by entering your answers in the tabs below. Required A Required B How much use tax does TR Company owe to State V with respect to the equipment bought in State B? Pre credit use tax Sales tax paid to State B Use tax owed to State V Amount Required A Required B > Problem 01-09 (Static) [LO 1-4] TR Company conducts business exclusively in State V, which levies a 5 percent sales and use tax on goods purchased or consumed in-state. This year, TR bought equipment in State B. The cost of the equipment was $90,000, and TR paid $5,400 sales tax to State B. TR also bought machinery in State D. The cost of the machinery was $200,000, and TR paid $7,000 sales tax to State D. Required: a. How much use tax does TR Company owe to State V with respect to the equipment bought in State B? b. How much use tax does TR Company owe to State V with respect to the machinery bought in State D? Complete this question by entering your answers in the tabs below. Required A Requilyd B How much use tax does TR Company owe to State V with respect to the machinery bought in State D? Pre credit use tax Sales tax paid to State D Use tax owed to State V Amount < Required A Required B >
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