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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.

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The objective section of a resume should consist of no more than:
Alona [7]

Answer:A

Explanation:

A p e x

3 0
3 years ago
Claudia, a researcher, conducted a survey in Spain. She wrote her report in Spanish. However, she wants to publish her findings
Fed [463]

Answer:

Translational equivalence

Explanation:

Translational equivalence -

It refers to the resemblance in the word in a particular language with its translation in other language , is referred to as translational equivalence .

The similarity can lead to any confusion or problem and hence , from the question ,

Claudia hires a translator of both the languages i.e. , english and spain , in order to avoid the problem of Translational equivalence .

Hence , the correct answer is Translational equivalence .

3 0
3 years ago
Income Statement, Direct and Indirect Cost Concepts, Service Company
Fofino [41]

Answer:

Send It Packing

1. The cost of materials used for packaging and mailing services during May is $11,550.

2. The prime cost for May is $51,170 (direct materials and labor and direct overhead)

3. The conversion cost for May is $43,700 (labor and overhead)

4. The total cost of services for May is $55,250

5. Income Statement for the month of May

Service Revenues                       $102,100

Cost of services:

Cost of materials used $11,550

Cost direct labor used  25,570

Overhead incurred         18,130  $55,250

Gross profit                                 $46,850

Franchise fee            $5,105

Advertising expense  2,750

Administrative costs  3,650       $11,505

Net income                                $35,345

6. The overhead incurred has $14,050 direct and $4,080 indirect costs.  The direct cost was paid to the courier companies for delivery services.  The indirect costs were incurred for rent, utilities, and insurance.

Explanation:

a) Data and Calculations:

Beginning inventory of materials = $1,050

Purchases of materials =               $11,450

Materials available for use =        $12,500

Ending inventory of materials =       $950

Cost of materials used =              $11,550

Cost direct labor used =               25,570

Overhead incurred =                      18,130

Franchise fee (5% of $102,100)      5,105

Advertising expense =                   2,750

Administrative costs                      3,650

8 0
3 years ago
Sarasota Company purchased a machine at a price of $103,200 by signing a note payable, which requires a single payment of $130,0
nlexa [21]

Answer:

-7.407%

Explanation:

Let interest rate be x%

Present value of payment = $130,002 * PV of discounting factor (rate%, time period)

$103,200 = $130,002 * 1.0x^3

1.0x^3 = $103,200 / $130,002

1.0x = ($103,200 / $130,002)^(1/3)

1.0x = 0.793834^(1/3)

1.0x = 0.92592660981

x = (0.92592660981 - 1) * 100

x = -0.07407*100

x = -7.407%

3 0
3 years ago
__________ consist(s) of right and wrong and the morality of choices.
Serga [27]

Answer:

d.) Ethics are the standard of what is right and wrong, and they are based on our values. Being ethical requires a moral judgement, and that's not always easy. Ethical behavior takes courage and has to be practiced.

8 0
2 years ago
Read 2 more answers
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