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- mary steiner purchased school supplies at office emporium for $97.62. she then purchased a dictionary for $22.95 and a CD for $14.78 at books express. for all purchases she must pay the state sales tax of 6.5% and the county tax of 0.5%. what is the total tax on her purchases?As the owner of a copy and print shop, you must collect 6 ½ % of the amount of each sale for sales tax. If sales for the month are 48,680, find the combined amount of sales and tax. Thomas Dugally of Century 21 Real Estate sold a small home for 174,900. The commission was 6% of the sale price. Since Dugally both listed and sold the home, he receives 60% of the commission, and his broker receives the remainder. Find the amount received by Dugally.Nancy Regan purchased a new diamond bracelet for $12,600. The state sales tax is 6% and the federal excise tax on the jewelry is 11%. What is the total purchase price of the bracelet? Round your answer to the nearest cent. Please use method: Total purchase price = selling price + sales tax + other charges
- As the owner of a copy and print shop, you must collect 6 ½ % of the amount of each sale for sales tax. If sales for the month are 48,680, find the combined amount of sales and tax.Last month the sweet tooth candy shop had total sales including sales tax of 61,889.  The stores are located in a state that has a sales tax of 6 1/2%.  Round your answer to the nearest cent. A- as the accountant for the sweet tooth calculate the amount of sales revenue in dollars for the Shoppes last month? B-as the accountant for the sweet tooth, calculate the amount of sales tax in dollars that must be sent to the state department of revenue?Vail Book Mart sells books and other supplies to students in a state where the sales tax rate is 6 percent. Vail Book Mart engaged in the following transactions for Year 1. Sales tax of 6 percent is collected on all sales. 1. Book sales, not including sales tax, for year 1 amounted to $275,000 cash. 2. Cash sales of miscellaneous items in year 1 were $149,000, not including sales tax. 3. Cost of goods sold was $210,000 for the year. 4. Paid $128,000 in operating expenses for the year. 5. Paid the sales tax collected to the state agency. Required: A. What is the total amount of sales tax Vail Book Mart collected and paid for the year? B. Prepare the journal entries for the preceding transactions C. What is Vali Book Mart's net income for the year?
- Stork Enterprises delivers care packages for special occasions. They charge $50 for a small package, and $95 for a large package. The sales tax rate is 5%. During the month of May, Stork delivers 43 small packages and 33 large packages. A. What is the total tax charged to the customer per small package? What is the overall charge per small package? If required, round your answers to two decimal places. Total tax charged $fill in the blank 1 per small package Overall charge $fill in the blank 2 per small package B. What is the total tax charged to the customer per large package? What is the overall charge per large package? If required, round your answers to two decimal places. Total tax charged $fill in the blank 3 per large package Overall charge $fill in the blank 4 per large package C. How much sales tax liability does Stork Enterprises have for the month of May? If required, round your answers to two decimal places. $fill in the blank 5 D. What account is used to…Jason’s Doughnut Shop had cash sales for the day of $700. In addition, all sales are subject to an 8% sales tax. What journal entry should be made to record the day’s sales and sales taxes? Show your calculations.Assume that you are the owner of Campus Connection, which specializes in items that interest students. At the end of January of the current year, you find (for January only) this information: a. Sales, per the cash register tapes, of $155000, plus one sale on credit (a special situation) of $2500. b. With the help of a friend (who majored in accounting), you determine that all of the goods sold during January cost $70,000 to purchase. c. During the month, according to the checkbook, you paid $37,000 for salaries, rent, supplies, advertising, and other expenses however, you have not yet paid the $900 monthly utilities for January. Required: On the basis of the data given (disregard income taxes), what was the amount of net income for January?
- Vail Book Mart sells books and other supplies to students in a state where the sales tax rate is 6 percent. Vail Book Mart engaged in the following transactions for Year 1. Sales tax of 6 percent is collected on all sales. Book sales, not including sales tax, for Year 1 amounted to $279,000 cash. Cash sales of miscellaneous items in Year 1 were $151,000, not including tax. Cost of gods sold was $211,000 for the year. Paid $130,000 in operating expenses for the year. Paid the sales tax collected to the state agency. What is the total amount of sales tax Vail Book Mart collected and paid for the year? Prepare the journal entries for the preceding transactions. What is Vail Book Mart's net income for the year?Vail Book Mart sells books and other supplies to students in a state where the sales tax rate is 6 percent. Vail Book Mart engaged in the following transactions for Year 1. Sales tax of 6 percent is collected on all sales. Book sales, not including sales tax, for Year 1 amounted to $279,000 cash. Cash sales of miscellaneous items in Year 1 were $151,000, not including tax. Cost of gods sold was $211,000 for the year. Paid $130,000 in operating expenses for the year. Paid the sales tax collected to the state agency. Required What is the total amount of sales tax Vail Book Mart collected and paid for the year? Prepare the journal entries for the preceding transactions. What is Vail Book Mart's net income for the year?Vail Book Mart sells books and other supplies to students in a state where the sales tax rate is 8 percent. Vail Book Mart engaged in the following transactions for Year 1. Sales tax of 8 percent is collected on all sales. Book sales, not including sales tax, for Year 1 amounted to $271,000 cash. Cash sales of miscellaneous items in Year 1 were $151,000, not including tax. Cost of goods sold was $209,000 for the year. Paid $128,000 in operating expenses for the year. Paid the sales tax collected to the state agency. Requireda. What is the total amount of sales tax Vail Book Mart collected and paid for the year?b. Prepare the journal entries for the preceding transactions. 1.Book sales, not including sales tax, for Year 1 amounted to $271,000 cash. Record the transaction. 2.Cash sales of miscellaneous items in Year 1 were $151,000, not including tax. Record the transaction. 3.Cost of goods sold was $209,000 for the year. Record the transaction. 4.Paid $128,000 in operating…
