Question
Rashon purchased a smartphone for $800, designer tennis shoes for $750, and jewelry for $600 from out-of-state retailers that did not collect tax. Although the
Rashon purchased a smartphone for $800, designer tennis shoes for $750, and jewelry for $600 from out-of-state retailers that did not collect tax. Although the total price of all the items is $2,150, the price of each item is less than $1,000. Since none of these individual items are $1,000 or more, Rashon is not required to use the Use Tax Worksheet and may choose to use the Estimated Use Tax Lookup Table. Rashon's California adjusted gross income was $155,000. What is the amount of use tax he must report?
$12
$15
$17
$194
Step by Step Solution
There are 3 Steps involved in it
Step: 1
To calculate the use tax amount we first need to determine the taxable amoun...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get StartedRecommended Textbook for
Starting Out With Python Global Edition
Authors: Tony Gaddis
4th Edition
1292225750, 9781292225753
Students also viewed these Accounting questions
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
View Answer in SolutionInn App