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anastassius [24]
1 year ago
8

heliot company operates its business in state h, which levies a 6 percent sales and use tax. this year, heliot purchased a $600,

000 item of tangible property in state k and paid $18,000 sales tax to the state. it also purchased a $750,000 item of tangible property in state l and paid $48,750 sales tax to the state. firm h transported both items of property into state h for use in its business.
Business
1 answer:
olasank [31]1 year ago
6 0

The total Use tax Heliot Owes State H for Property in K is $18,000

<h3>What is a business?</h3>

A business can be defined as the part where the buying and the selling of the product is done in the organization.

Use of Tax Heliot owes to State H for Property Purchased

The value of the property in State H that Heliot Purchased =  $600,000

Tax rate applicable in State H  =  6%

Tax for Pre-credit use (0.06 x 600,000)  = $36,000

Subtract The sales tax paid by Heliot to State K = loss $18,000

The total Use tax Heliot Owes State H is $18,000

Learn more about business, here:

brainly.com/question/15826771

#SPJ4

The question is incomplete, the complete question is:

Compute the use tax that Heliot owes to State H for the property purchased in State K.

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Answer:

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Explanation:

Giving the following information:

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n= 15 years

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We need to use the following formula:

FV= {A*[(1+i)^n-1]}/i

A= annual deposit

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A= (FV*i)/{[(1+i)^n]-1}

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Identifying and Analyzing Financial Statement Effects of Cash Dividends Freid Corp. has outstanding 6,000 shares of $50 par valu
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Answer:

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cash (18,000)                       NA                          Retained earnigns (18,000)

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Retained earnings is an equity account and any cash dividends paid either to preferred or common stock will decrease cash and retained earnings, remember that both sides must balance.

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3 years ago
Bette's Breakfast, a perfectly competitive eatery, sells its "Breakfast Special" (the only item on the menu) for $5.00. The cost
Tamiku [17]

Answer:

Bette's Breakfast should increase the price or change the cost´s structure.

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Other option is changing the structure of cost per meal.

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tangare [24]

Answer:

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April: 8,195 $14,490

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A company uses the percent of sales method to determine its bad debts expense. At the end of the current year, the company's una
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Answer:

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The amount to be debited to Bad Debts Expense when the year-end adjusting entry is prepared is $3,355.

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