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Use Exhibit 18-1 to determine the sales tax (in $) and calculate the total purchase price (in $) for the item. (Round your answers to the nearest cent.) Selling Price Item Hair dryer $17.27 $ Sales Tax Total Purchase Price

Use Exhibit 18-1 to determine the sales tax (in $) and calculate the total purchase price (in $) for the item. (Round your answers to the nearest cent.) Selling Price Item Hair dryer $17.27 $ Sales Tax Total Purchase Price

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Use Exhibit 18-1 to determine the sales tax (in $) and calculate the total purchase price (in $) for the item. (Round your answers to the nearest cent.) Item Hair dryer Selling Price $17.27 $ Sales Tax Total Purchase Price $
Transcribed Image Text:Use Exhibit 18-1 to determine the sales tax (in $) and calculate the total purchase price (in $) for the item. (Round your answers to the nearest cent.) Item Hair dryer Selling Price $17.27 $ Sales Tax Total Purchase Price $
EXHIBIT 18-16% Sales Tax Brackets Amount of Sale .10- .15 .16- .30 .31- .46 .47- .61 .62- .77- .76 .92 .93- 1.07 1.08- 1.23 1.24- 1.38 1.39- 1.53 1.54- 1.69 1.70- 1.84 1.85- 2.09 2.10- 2.15 2.16- 2.30 2.31- 2.46 2.47- 2.61 2.62 2.76 2.77- 2.92 2.93- 3.07 3.08- 3.23 3.24- 3.38 3.39 3.53 3.54- 3.69 3.70- 3.84 3.85- 4.09 4.10- 4.15 4.16- 4.30 4.31- 4.47- 4.62- 4.46 4.61 4.76 4.77- 4.92 4.93- 5.07 Tax Amount of Sale Tax .01 5.08- 5.23 .34 .35 .02 5.24- 5.38 5.39- 5.53 .36 5.54- 5.69 .37 5.70 5.84 .38 .39 .40 .03 .04 .05 .06 .07 .08 .09 .10 .11 .12 .13 .14 .15 .16 .17 .18 .19 .20 .21 .22 .23 .24 .25 .26 61% SALES TAX BRACKETS .27 .28 .29 .30 .31 .32 .33 5.85- 6.09 6.10- 6.15 6.16- 6.30 6.31- 6.46 6.47- 6.61 6.62- 6.76 6.77- 6.92 6.93- 7.07 7.08- 7.23 7.24- 7.38 7.39- 7.53 7.54- 7.69 7.70- 7.84 7.85- 8.09 8.10- 8.16- 8.15 8.30 8.46 8.31- 8.47- 8.61 8.62- 8.76 8.77- 8.92 8.93- 9.07 9.08- 9.23 9.24- 9.38 9.53 9.69 9.39- 9.54- 9.70- 9.84 9.85- 10.09 .41 .42 .43 .44 .45 .46 .47 .48 .49 .50 .51 .52 .53 .54 .55 .56 .57 .58 .59 .60 .61 .62 .63 .64 .65 Amount of Sale 10.10- 10.15 10.16- 10.30 10.31- 10.46 10.47 10.61 10.62 10.76 10.77- 10.92 10.93- 11.07 11.08- 11.23 11.24- 11.38 .72 .73 74 11.39 11.53 .75 11.54 11.69 .76 .77 .78 11.70- 11.84 11.85 12.09 12.10- 12.15 12.16- 12.30 12.31 12.46 12.47- 12.61 12.62- 12.76 12.77- 12.92 12.93 13.07 13.08- 13.23 13.24 13.38 13.39 13.53 13.54 13.69 13.70- 13.84 13.85- 14.09 Tax .66 .67 .68 .69 .70 .71 14.10- 14.15 14.16- 14.30 14.31- 14.46 14.47 14.61 .79 .80 .81 .82 .83 .84 .85 .86 .87 .88 .89 .90 .91 .92 .93 .94 .95 .96 14.62- 14.76 14.77- 14.92 .97 14.93- 15.07 .98 Amount of Sale 15.08- 15.23 15.24- 15.38 15.39- 15.53 Tax .99 1.00 1.01 1.02 15.54- 15.69 15.70- 15.84 1.03 15.85- 16.09 1.04 16.10- 16.15 1.05 16.16- 16.30 1.06 16.31 16.47- 16.61 16.62- 16.76 16.46 1.07 1.08 1.09 1.10 16.77- 16.92 16.93- 17.07 1.11 17.08- 17.23 17.24- 17.38 17.39- 17.53 17.54- 17.69 17.70- 17.84 17.85- 18.09 18.10- 18.15 18.16- 18.30 18.31 18.46 18.47 18.61 18.62 18.76 18.77 18.92 18.93- 19.07 19.08- 19.23 19.24- 19.38 19.39- 19.53 19.54- 19.69 19.70- 19.84 19.85- 20.09 1.12 1.13 1.14 1.15 1.16 1.17 1.18 1.19 1.20 1.21 1.22 1.23 1.24 1.25 1.26 1.27 1.28 1.29 1.30
Transcribed Image Text:EXHIBIT 18-16% Sales Tax Brackets Amount of Sale .10- .15 .16- .30 .31- .46 .47- .61 .62- .77- .76 .92 .93- 1.07 1.08- 1.23 1.24- 1.38 1.39- 1.53 1.54- 1.69 1.70- 1.84 1.85- 2.09 2.10- 2.15 2.16- 2.30 2.31- 2.46 2.47- 2.61 2.62 2.76 2.77- 2.92 2.93- 3.07 3.08- 3.23 3.24- 3.38 3.39 3.53 3.54- 3.69 3.70- 3.84 3.85- 4.09 4.10- 4.15 4.16- 4.30 4.31- 4.47- 4.62- 4.46 4.61 4.76 4.77- 4.92 4.93- 5.07 Tax Amount of Sale Tax .01 5.08- 5.23 .34 .35 .02 5.24- 5.38 5.39- 5.53 .36 5.54- 5.69 .37 5.70 5.84 .38 .39 .40 .03 .04 .05 .06 .07 .08 .09 .10 .11 .12 .13 .14 .15 .16 .17 .18 .19 .20 .21 .22 .23 .24 .25 .26 61% SALES TAX BRACKETS .27 .28 .29 .30 .31 .32 .33 5.85- 6.09 6.10- 6.15 6.16- 6.30 6.31- 6.46 6.47- 6.61 6.62- 6.76 6.77- 6.92 6.93- 7.07 7.08- 7.23 7.24- 7.38 7.39- 7.53 7.54- 7.69 7.70- 7.84 7.85- 8.09 8.10- 8.16- 8.15 8.30 8.46 8.31- 8.47- 8.61 8.62- 8.76 8.77- 8.92 8.93- 9.07 9.08- 9.23 9.24- 9.38 9.53 9.69 9.39- 9.54- 9.70- 9.84 9.85- 10.09 .41 .42 .43 .44 .45 .46 .47 .48 .49 .50 .51 .52 .53 .54 .55 .56 .57 .58 .59 .60 .61 .62 .63 .64 .65 Amount of Sale 10.10- 10.15 10.16- 10.30 10.31- 10.46 10.47 10.61 10.62 10.76 10.77- 10.92 10.93- 11.07 11.08- 11.23 11.24- 11.38 .72 .73 74 11.39 11.53 .75 11.54 11.69 .76 .77 .78 11.70- 11.84 11.85 12.09 12.10- 12.15 12.16- 12.30 12.31 12.46 12.47- 12.61 12.62- 12.76 12.77- 12.92 12.93 13.07 13.08- 13.23 13.24 13.38 13.39 13.53 13.54 13.69 13.70- 13.84 13.85- 14.09 Tax .66 .67 .68 .69 .70 .71 14.10- 14.15 14.16- 14.30 14.31- 14.46 14.47 14.61 .79 .80 .81 .82 .83 .84 .85 .86 .87 .88 .89 .90 .91 .92 .93 .94 .95 .96 14.62- 14.76 14.77- 14.92 .97 14.93- 15.07 .98 Amount of Sale 15.08- 15.23 15.24- 15.38 15.39- 15.53 Tax .99 1.00 1.01 1.02 15.54- 15.69 15.70- 15.84 1.03 15.85- 16.09 1.04 16.10- 16.15 1.05 16.16- 16.30 1.06 16.31 16.47- 16.61 16.62- 16.76 16.46 1.07 1.08 1.09 1.10 16.77- 16.92 16.93- 17.07 1.11 17.08- 17.23 17.24- 17.38 17.39- 17.53 17.54- 17.69 17.70- 17.84 17.85- 18.09 18.10- 18.15 18.16- 18.30 18.31 18.46 18.47 18.61 18.62 18.76 18.77 18.92 18.93- 19.07 19.08- 19.23 19.24- 19.38 19.39- 19.53 19.54- 19.69 19.70- 19.84 19.85- 20.09 1.12 1.13 1.14 1.15 1.16 1.17 1.18 1.19 1.20 1.21 1.22 1.23 1.24 1.25 1.26 1.27 1.28 1.29 1.30
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