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What is the amount of tax collected by vendor b

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Reference no: EM133173409

Question - In the land of Shellytopia, VAT is applied at a rate of 25% with few exceptions. If vendor A sells raw materials to vendor B for $60,000 plus VAT, and vendor B sells a product to vendor C for $130,000 plus VAT, and vendor C sells an improved product to an end-user for $250,000 plus VAT:

a) What is the amount of tax collected by vendor B?

b) How much tax does vendor B send to Shellytopia's Treasury Department?

c) What is the total amount of tax collected by Shellytopia's Treasury Department?

Reference no: EM133173409

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