What was the total amount of taxes paid by Ajinkya to the suppliers? Ajinkya Electronic Systems, a company in India that manufactures many different electronic

Question

27 users unlocked this solution today!

What was the total amount of taxes paid by Ajinkya to the suppliers?
Ajinkya Electronic Systems, a company in India that manufactures many different electronic products, has to purchase goods and services from a variety of suppliers (wire, diodes, LED displays, plastic components, etc.). The table below shows several suppliers and the VAT rates associated with each. It also shows the purchases in $1000 units that Ajinkya made (before taxes) from each supplier in the previous accounting period. Ajinkya's sales to end users was $9.2 million, and Ajinkya's products carry a VAT of12.5%.

Purchases by Ajinkya, $1000 Supplier VAT Rate, % 4.0 12.5 12.5 21.3 32.6 350 870 620 90 50