Business, 06.12.2019 06:31 octaviangh14
Last year, reggie, a los angeles, california resident, began selling autographed footballs through trojan victory (tv), incorporated, a california corporation. tv has never collected sales tax. last year tv had sales as follows: california ($100,000), arizona ($10,000), oregon ($15,000), new york ($50,000), and wyoming ($1,000). most sales are made over the internet and shipped by common carrier. how much sales tax should tv have collected in each of the following situations:
a) california treats the autographed football as tangible personal property subject to an 8.25 percent sales tax. answer for california.
b) california treats the autographed football as part tangible personal property ($50,000) and part services ($50,000) and tangible personal property is subject to an 8.25 percent sales tax. answer for california.
c) tv has no property or other physical presence in new york (10.25 percent) or wyoming (5 percent). answer for new york and wyoming.
d) tv has reggie deliver a few balls to fans in arizona (5.6 percent sales tax rate) and oregon (no sales tax) while attending football games there. answer for arizona and oregon.
e) related to part d, can you make any suggestions that would decrease tv’s arizona sales tax liability?
Answers: 3
Other questions on the subject: Business
Business, 21.06.2019 18:00, sam10146
Abc company currently pays a dividend of $2.15 per share, d0=2.15. it is estimated that the company’s dividend will grow at a rate of 30 percent per year for the next 3 years, then the dividend will grow at a constant rate of 7 percent thereafter. the market rate of return is 9 percent. what would you estimate is the stock’s current price?
Answers: 3
Business, 21.06.2019 21:00, maliekadeans8499
The following accounts appeared in recent financial statements of delta air lines. identify each account as either a balance sheet account or an income statement account. for each balance sheet account, identify it as an asset, a liability, or stockholders' equity. for each income statement account, identify it as a revenue or an expense. item financial statement type of account accounts payable balance sheet advanced payments for equipment balance sheet air traffic liability balance sheet aircraft fuel (expense) income statement aircraft maintenance (expense) income statement aircraft rent (expense) income statement cargo revenue income statement cash balance sheet contract carrier arrangements (expense) income statement flight equipment balance sheet frequent flyer (obligations) balance sheet fuel inventory balance sheet landing fees (expense) income statement parts and supplies inventories balance sheet passenger commissions (expense) income statement passenger revenue income statement prepaid expenses income statement taxes payable balance sheet
Answers: 1
Business, 22.06.2019 15:20, alex12everett
Record the journal entry for the provision for uncollectible accounts under each of the following independent assumptions: a. the allowance for doubtful accounts before adjustment has a credit balance of $500. b. the allowance for doubtful accounts before adjustment has a debit balance of $250. c. assume that octoberʼs credit sales were $70,000. uncollectible accounts expense is estimated at 2% of sales. smith, gaylord n.. excel applications for accounting principles (p. 51). cengage textbook. kindle edition.
Answers: 1
You know the right answer?
Last year, reggie, a los angeles, california resident, began selling autographed footballs through t...
Questions in other subjects:
English, 16.11.2020 22:50
Chemistry, 16.11.2020 22:50
French, 16.11.2020 22:50
