A shopkeeper sells an article at its marked price RO 7500 and charges sales-tax at the rate of 12% from the customer. If the shopkeeper pays a VAT of RO 180, the input tax is. O a. RO 620 O b. RO 920 O. RO 900 O d. RO 720

A shopkeeper sells an article at its marked price RO 7500 and charges sales-tax at the rate of 12% from the customer. If the shopkeeper pays a VAT of RO 180, the input tax is. O a. RO 620 O b. RO 920 O. RO 900 O d. RO 720

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter9: Current Liabilities And Contingent Obligations

Section: Chapter Questions

Problem 6RE: Smith Company is required to charge customers an 8% sales tax on all goods it sells. At the time of...

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A shopkeeper sells an article at its marked price
RO 7500 and charges sales-tax at the rate of 12%
from the customer. If the shopkeeper pays a VAT
of RO 180, the input tax is.
O a. RO 620
O b. RO 920
O. RO 900
O d. RO 720

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