How much Rhode Island use tax does Mrs Doyle owe

Assignment Help Accounting Basics
Reference no: EM133099573

Question - Mrs. Doyle, a resident of Rhode Island, traveled to Delaware to purchase an oil painting from a local artist. The cost of the painting was $9,400. Rhode Island has a 7 per- cent sales and use tax, while Delaware has no sales and use tax.

a. How much Rhode Island use tax does Mrs. Doyle owe on the purchase she made in Delaware?

b. How much Rhode Island use tax would Mrs. Doyle owe if she purchased the painting from a gallery in New York City and paid 8.75 percent state and local sales tax on the transaction?

c. How much Rhode Island use tax would Mrs. Doyle owe if she purchased the painting from a dealer in Milwaukee and paid Wisconsin's 5 percent sales tax on the transaction?

Reference no: EM133099573

Questions Cloud

Ravages of the covid-19 pandemic : In your answer, explain the WTO's trade strategies to open markets, improve the employment rate, and boost the African economy.
Cross cultural business management : Following Questions in relation to Canada (Cross cultural business management)
Case study-spirit airlines : Why is the value chain important to Spirit Airlines? What are the primary and secondary components of their value chain?
Recall a time you received bad news via email : We've all received bad news at one time or another. For this week's discussion, please respond to the following:
How much Rhode Island use tax does Mrs Doyle owe : The cost of the painting was $9,400. How much Rhode Island use tax does Mrs. Doyle owe on the purchase she made in Delaware
Analysis of the deviations necessary : Why is analysis of the deviations necessary even when the populations are considered acceptable?
What type of advertising appeal makes the most sense : 1. What type of message strategy should Delta Faucet Company utilize? Should it be the same for all of the brands and in all of the markets (builders, plumbers,
Cloud databases and distributed databases : Name and describe the major capabilities of cloud databases and distributed databases. Explain why a cloud database can be so powerful. Provide an example of a
Calculate the economic value added : Net income to shareholders was $8,669 million. {Assume a tax rate of 21%) Calculate the economic value added assuming its cost of capital is 10%

Reviews

Write a Review

Accounting Basics Questions & Answers

  What is Martinez journal entries

In 2020, Martinez sold inventory costing $70,000 to Paulson for $85,000. What is Martinez's journal entries for 2020 to apply the equity method

  Centers for disease control and prevention

According to the U.S. Centers for Disease Control and Prevention, Americans 85 years of age and older experience flu-associated respiratory and circulatory illness at an annual rate of approximately 1200 cases per 100,000 persons.

  What was the bonds market price

Akers Company sold bonds on July 1, 2017, with a face value of $100,000. What was the bonds' market price on July 1, 2018

  What is the ending balance in the copper mine account

Joe, Inc. acquires a copper mine at a cost of $1,000,000 in 2010. What is the ending balance in the Copper Mine account

  What is the minimum that centrum manufacturing accept

Centrum Manufacturing, What is the minimum (floor price) that Centrum Manufacturing should accept for the first unit of this modified product?

  What was the book value of the fixed assets

Barnes & Noble Inc. (BKS) reported (in thousands) Property and Equipment of $3,076,299. What was the book value of the fixed assets

  What is the amount of allowable depreciation

Arnie, a college student, purchased a truck in 2010 for $6,000. What is the amount of allowable depreciation in 2012

  Should write the check today and record expense and why

On the last day of the fiscal year, How would the company be affected if the check is written and the invoice ends up being erroneous?

  What is the npv of the given investment opportunity

Suppose the cost of capital and the costs of the investment are the same as in #1. What is the NPV of this investment opportunity?

  What is the accumulated depreciation of disposed property

Please consider the excerpts from the Clorox Annual Report for Fiscal Year 2020 (PDF) (i.e., the fiscal year ended June 30, 2020) and answer the following.

  What is the estimate of the value of the dependent variable

If the value of the independent variable is 10, what is the estimate of the value of the dependent variable? What is the sample size?

  What is the journal entry to record revenue

Best Builders constructed a new subdivision during 2014 and 2015 under contract with Town Stadium Co

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd