A retailer buys a product from the wholesaler at 120 OMR and wholesaler charges sales tax of 8%. The retailer fixes the price at 180 OMR to the customer at the same tax rate. How much VAT does the retailer pay to the government? a. 4.8 OMR b. 14.4 OMR c. 24 OMR d. 9.6 OMR
A retailer buys a product from the wholesaler at 120 OMR and wholesaler charges sales tax of 8%. The retailer fixes the price at 180 OMR to the customer at the same tax rate. How much VAT does the retailer pay to the government? a. 4.8 OMR b. 14.4 OMR c. 24 OMR d. 9.6 OMR
Chapter12: Current Liabilities
Section: Chapter Questions
Problem 6EA: Elegant Electronics sells a cellular phone on September 2 for $450. On September 6, Elegant sells...
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A retailer buys a product from the wholesaler at 120 OMR and wholesaler charges sales tax of 8%. The retailer fixes the price at 180 OMR to the customer at the same tax rate. How much VAT does the retailer pay to the government?
a.
4.8 OMR
b.
14.4 OMR
c.
24 OMR
d.
9.6 OMR
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