What was the price inclusive of tax

Reference no: EM132723250

Problem 1: A shopkeeper sells an article whose listed price is RO 4500 and charges sales tax on it at the prescribed rate of 12% from the consumer. If the shopkeeper pays a VAT of RO 108 to the government, what was the price inclusive of tax at which the shopkeeper bought the article from the wholesaler?

Problem 2: A manufacturer printed the price of his goods as RO 360 per article. He allowed a discount of 30% to the wholesaler who in his turn allowed a discount of 20% on the printed price to the retailer. If the prescribed rate of sales tax on the goods is 10% and the retailer sells it to the consumer at the printed price, then find the VATs paid by the wholesaler and the retailer.

Reference no: EM132723250

Questions Cloud

What is jill gross pay assuming overtime at time-and-half : What is Jill's Gross pay, assuming overtime is at time-and-a-half? Jill Foster worked for 55 hours in one week for Delta Airlines. Jill earns RO 12 per hour

Healthcare technology : What are the benefits and negative consequences of using web-based information for health and wellness education, medical diagnoses, and treatment?

Prepare a memorandum entry in the general journal : Prepare a memorandum entry in the general journal indicating the new par value and the total number of outstanding shares of common stock

Utilization and efficiency of the repair shop : What are the utilization and efficiency of the repair shop? Show your answer

What was the price inclusive of tax : sales tax on the goods is 10% and the retailer sells it to the consumer at the printed price, then find the VATs paid by the wholesaler and the retailer.

Prepare a statement of retained earnings for the year ended : Retained earnings, January 1 $60,000. Prepare a statement of retained earnings for the year ended December 31, 20--

How much does ahmed paid as vat : The VAT is 20%. How much does Ahmed paid as VAT? How much does the wholesaler pay as VAT? & how much does the government received as VAT?

How much vat does the retailer pay : What is the price that a consumer has to pay to buy the article? Find the input tax and output tax for the retailer. How much VAT does the retailer pay

Educate patient about proper management : Discuss how you might educate a patient about proper management of infectious materials at home,

User Account

All Pages