A consumer buys a Television whose listed price is RO 380 from a shopkeeper and pays a sales tax at the rate of 10%. The shopkeeper pays a VAT of RO 3. The input tax for the shopkeeper is
Q: C) A retailer buys an article from the wholesaler at RO 240 and the wholesaler charges a sales tax…
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A: Note: Since you have asked multiple questions, we will solve the first question for you. If you want…
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Q: A consumer buys an article for a listed price of 380 OMR from a shopkeeper and pays 10% sales tax.…
A: Tax collected from consumer = listed price of article x sales tax rate = 380 x 10% = 38 OMR
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Q: Mike purchases a bicycle costing $152.70. State taxes are 4% and local sales taxes are 2%. The store…
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Q: A man buys an article whose listed price is RO 380 from a shopkeeper and pays a sales tax at the…
A: The list price represents the amount charged from the buyer inclusive of specified tax rates.
Q: 5. A retailer buys an article from the wholesaler at OMR 80 and the wholesaler charges a sales tax…
A: a) Price that consumer have to pay would be- 100+8%of 100= 108. b) Input Tax: 80*8%= 6.4 Output…
Q: Find the value added tax paid by the wholesaler and the retailer.
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A consumer buys a Television whose listed price is RO 380 from a shopkeeper and pays a sales tax at the rate of 10%. The shopkeeper pays a VAT of RO 3. The input tax for the shopkeeper is
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- A man buys an article whose listed price is RO 380 from a shopkeeper and pays a sales tax at the rate of 10%. The shopkeeper pays a VAT of RO 3. Find the input tax and the price inclusive of tax at which the shopkeeper bought the article from the wholesaler. Select one: O a. Input tax = 38, Price Paid by retailer to wholesaler = 350 O b. Input tax = 35, Price Paid by retailer to wholesaler = 385 O c. Input tax = 38, Price Paid by retailer to wholesaler = 385 O d. Input tax = 35, Price Paid by retailer to wholesaler = 350A retailer sells a product at a price of 120 OMR. He purchased the same product from a wholesaler at 95 OMR. The sales tax is 6%. Calculate the VAT paid by the retailer.A consumer buys an article for a listed price of 380 OMR from a shopkeeper and pays 10% sales tax. The shopkeeper pays a VAT of OMR 3. Find the price inclusive of tax at which the shopkeeper bought from the wholesaler. a. 35O OMR b. 418 OMR c. 315 OMR d. 385 OMR
- A shopkeeper pays 24 RO VAT. He sells the product to the customer for 730 RO. The sales tax is 8%. What price did the shopkeeper pay for the product?A shopkeeper buys an article from the wholesaler at RO 72 and pays sales tax at the rate of 10%. The shopkeeper fixes the price of the article at RO 90 and charge sales tax at 10% from the consumer. Find (a) Input tax (b) Output tax (c) VAT paid to government Select one: O a. Input tax = 7.2, output tax = 9, VAT = 16.2 O b. Input tax = 7.2, Output tax = 9, VAT = 1.8 O c. Input tax = 9, Output tax = 7.2, VAT = 16.2 O d. Input tax =9, Output tax = 7.2, VAT = 1.85. A retailer buys an article from the wholesaler at OMR 80 and the wholesaler charges a sales tax at the prescribed rate of 8%. The retailer fixes the price at OMR 100 and charges sales tax at the same rate. Apply VAT system of sales tax calculation to answer the following. a) What is the price that a consumer has to pay to buy the article? b) Find the input tax and output tax for the retailer. c) How much VAT does the retailer pay to the government?
- A retailer buys an article from the wholesaler at GHC 80 and the wholesaler charges a sales tax at the 1- arescribed rate of 8%. The retailer fixes the price at GHC 100 and charges sales tax at the same rate. Apply value added tax system of sales tax calculation to answer the following questions. (i) What is the price that a consumer has to pay to buy the article? (ii) Find the input tax and output tax for the retailer. (iii) How much VAT does the retailer pay to the government? 2. A shopkeeper sells an article at its marked price GHC 7500 and charges sales-tax at the rate of 12% from the customer. If the shopkeeper pays a VAT of GHC 180, calculate the price inclusive of tax paid by the shopkeeper. 3. A manufacturer printed the price of his goods as GHC120 per article. He allowed a discount of 30% to the wholesaler who in his turn allowed a discount of 20% on the printed price to the retailer. If the prescribed rate of sales tax on the goods is 10% and the retailer sells it to the…A manufacturer printed the price of his goods as BD240 per article. He allowed a discount of 20% to the wholesaler who in his turn allowed a discount of 15% on the printed price to the retailer. If the prescribed rate of VAT on the goods is 5% and the retailer sells it to the consumer at the printed price. Instructions: Find the value added tax paid by the wholesaler and the retailerA retailer purchased an item from the wholesaler for OMR 1000. If the retailer sells the same item for OMR 1500. The tax rate is 10%. How much tax the customer will pay? a. OMR 250 b. OMR 50 O c. OMR 100 O d. OMR 150
- prescribed rate of VAT on the goods is 10% and the retailer sells it to the consumer at the printed price.Save A A manufacturer printed the price of his goods as BD120 per article. He allowed a discount ot 30% to the wholesaler who in his turn allowed a discount of 20% on the printed price to the retailer. It the Require Find the value added tax paid by the wholesaler and the retailer.Erin is registered for sales tax. During May, she sold goods with a list price of $600, excluding sales tax, to Kyle on credit. As Kyle was buying a large quantity of goods, Erin applied a trade discount of 5% of the normal list price. If sales tax is charged at 15%, what will be the gross value of the sales invoice prepared by Erin? %24Mr. Assad a Wholesaler buys a product from the Al Mazoon manufacturing company at RO 700 and pays VAT at the prescribed rate of 10%. a retailer buys a product from the wholesaler at RO 800 and the wholesaler charges VAT at the prescribed rate of 10%. The retailer fixes the price at RO 1000 and charges VAT at the same rate. Mr. Yousuf buys the product from the ABC LLC. What is the price including VAT that Mr. Yousuf has to pay to buy the Product? What is input tax and output tax? Discuss Amount of output tax for the retailer and wholesaler. How much VAT does the retailer pay to the government? VAT is different from sales tax system. Explain and give reason to your answer