1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
KATRIN_1 [288]
3 years ago
6

Last year, Reggie, a Los Angeles, California resident, began selling autographed footballs through Trojan Victory (TV), Incorpor

ated, 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?
Business
1 answer:
tangare [24]3 years ago
5 0

Answer: a) $8,250 b) $4,125 c) No sales tax or use tax liability d) $560 e) No sales tax or use tax liability would be accrued.

Explanation:

a) $100,000 x 8.25% = $ 8,250 (California had $100,000 sales and 8.25 % sales tax)

b) $50,000 x 8.25% = $4,125

c)As TV lacks physical presence in New York and Wyoming, therefore, it would have no sales tax or use tax liability.

d)$10,000 x 5.6% sales = $560. TV would have tax liability in Arizona but not in Oregon.

e) If TV shipped through common carrier to its clients in Arizona other than from having Reggie deliver them, then no sales tax would occur. However, customer's would still be subjected to the Arizona state use tax liability.

You might be interested in
Complete the following statement. The purpose of the closing process is to reset _________ (temporary/permanent) account balance
frez [133]

Answer:

The correct answer is temporary/earnings

Explanation:

The objective of the accounting closing is to evaluate the benefits or losses of a business activity. In other words, if the final result is positive, there is an increase in business equity, and if the final result is negative, there is a decrease in company equity.

Finally, in the accounting closing, a series of steps are carried out: the accounting regularization, the determination of the result, the closing of accounts and the presentation of annual accounts.

In conclusion, in the accounting cycle a period of time is contemplated and a set of operations and procedures are carried out in order to reflect the financial status of a company.

4 0
3 years ago
Read 2 more answers
Why would someone choose to own a car instead of leasing?
CaHeK987 [17]
They will save more and plus it will be there car property
7 0
3 years ago
The ACME company manufactured x brooms per month from January to April, inclusive. On the first of each month, during the follow
Papessa [141]

Solution:

Pick some smart number for x,

let x=2 (I chose x=2 as in this case monthly shipments would be X/2=1).

From January to April, inclusive 4x=8 brooms were produced and

in May the company paid for storage of 8-1 =7 brooms,

in next month for storage of 6 and so on.

So the total storage cost would be:

= 1 ∗ (7+6+5+4+3+2+1+0)

= 28

--> as x=2 , then 28 = 14x

So the answer is 14x

4 0
3 years ago
As accenture explores an end-to-end business flow that has reconciliation between multiple parties, what would we uncover?.
vlabodo [156]

As Accenture explores an end-to-end business flow that has reconciliation between multiple parties system, we would be able to uncover shared state.

Any variable, object, or memory area that resides in a shared scope is referred to as a shared states. Accenture Blockchain and Multiparty Systems  specializes in supply chain, digital identity and financial services.  

Multiparty  systems creates a shared data infrastructure between an individual and an organization that drives efficiency and creates a new business and revenue models. they include blockchain, distributed ledger, distributed database, tokenization and a variety of other technologies and capabilities.

To learn more about Accenture here

brainly.com/question/28169672

#SPJ4

6 0
2 years ago
A. Is a detailed statement of receipts and expenditures for a period of time in the future
Orlov [11]

Answer

A detailed statement of receipts and expenditure for a period of time in the future is called a Budget

Explanation

An estimate of revenue and expenses over a particular future period of time is referred as the budget. A budget can be made for a family, for an individual or a business entity. In companies, budget is utilized as an internal tool of management.


3 0
3 years ago
Other questions:
  • If a government is interested in knowing the total income of its citizens (including remittances, or money earned in a foreign c
    15·2 answers
  • Question 5 of 10<br> Relationship building at work can...
    7·1 answer
  • During a​ period, 40,200 units were completed and​ 3,200 units were in ending WIP Inventory. Ending WIP was​ 95% complete for di
    5·1 answer
  • Mike is saving his emergency funds in an IRA account. Is his strategy a good one? Select the best answer from the choices provid
    5·1 answer
  • C&amp;A Cruise owns 10 ships and wants to serve 2000 passengers each week. Each cruise ship can carry 500 passengers on each voy
    9·1 answer
  • Do you agree that ""the employer usually has the upper hand"" when it comes to establishing the employment relationship? When mi
    6·1 answer
  • In four to six sentences, explain the savings-borrowing-Investing cycle.​
    8·1 answer
  • Suppose that in 1994 the total output in a single-good economy was 10,000 buckets of chicken. Also suppose that in 1994 each buc
    15·1 answer
  • In project procurement management, obtaining seller responses, selecting sellers, and awarding contracts is part of the _____ pr
    13·1 answer
  • What will be the resulting change in equilibrium of the chocolate bar market
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!