A shopkeeper buys an article from the wholesaler at RO 72 and pays sales tax at the rate of 10%. The shopkeeper fixes the price of the article at RO 90 and charge sales tax at 10% from the consumer. Find (a) Input tax (b) Output tax (c) VAT paid to government Select one: O a. Input tax = 7.2, output tax = 9, VAT = 16.2 O b. Input tax = 7.2, Output tax = 9, VAT = 1.8 O c. Input tax = 9, Output tax = 7.2, VAT = 16.2 O d. Input tax =9, Output tax = 7.2, VAT = 1.8
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- 5. A retailer buys an article from the wholesaler at OMR 80 and the wholesaler charges a sales tax at the prescribed rate of 8%. The retailer fixes the price at OMR 100 and charges sales tax at the same rate. Apply VAT system of sales tax calculation to answer the following. a) What is the price that a consumer has to pay to buy the article? b) Find the input tax and output tax for the retailer. c) How much VAT does the retailer pay to the government?A man buys an article whose listed price is RO 380 from a shopkeeper and pays a sales tax at the rate of 10%. The shopkeeper pays a VAT of RO 3. Find the input tax and the price inclusive of tax at which the shopkeeper bought the article from the wholesaler. Select one: O a. Input tax = 38, Price Paid by retailer to wholesaler = 350 O b. Input tax = 35, Price Paid by retailer to wholesaler = 385 O c. Input tax = 38, Price Paid by retailer to wholesaler = 385 O d. Input tax = 35, Price Paid by retailer to wholesaler = 350A retailer buys an article from the wholesaler at GHC 80 and the wholesaler charges a sales tax at the 1- arescribed rate of 8%. The retailer fixes the price at GHC 100 and charges sales tax at the same rate. Apply value added tax system of sales tax calculation to answer the following questions. (i) What is the price that a consumer has to pay to buy the article? (ii) Find the input tax and output tax for the retailer. (iii) How much VAT does the retailer pay to the government? 2. A shopkeeper sells an article at its marked price GHC 7500 and charges sales-tax at the rate of 12% from the customer. If the shopkeeper pays a VAT of GHC 180, calculate the price inclusive of tax paid by the shopkeeper. 3. A manufacturer printed the price of his goods as GHC120 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…
- The retailer buys an article from the wholesaler at OMR 1,980 and the wholesaler charges a sales tax at the prescribed rate of 8%. The retailer fixes the price at OMR 2,100 and charges sales tax at the same rate. Apply VAT system of sales tax and calculate how much is the price the customer has to pay to buy the article? O a. OMR 2,681 O b. OMR 2,678 O c. OMR 2,268 O d. OMR 2,690 Nex Course Orientation Business M Jump to..A retailer sells a product at a price of 120 OMR. He purchased the same product from a wholesaler at 95 OMR. The sales tax is 6%. Calculate the VAT paid by the retailer.A consumer buys an article for a listed price of 380 OMR from a shopkeeper and pays 10% sales tax. The shopkeeper pays a VAT of OMR 3. Find the price inclusive of tax at which the shopkeeper bought from the wholesaler. a. 35O OMR b. 418 OMR c. 315 OMR d. 385 OMR
- A consumer buys a Television whose listed price is RO 380 from a shopkeeper and pays a sales tax at the rate of 10%. The shopkeeper pays a VAT of RO 3. The input tax for the shopkeeper isA 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, Calculate the price inclusive of tax paid by the shopkeeper. O a. 7500 RO O b. 6000 RO O c. 6720 RO O d. 8400 ROA wholesaler sells an item to a retailer for OMR 440. Tax charged is 5% The retailer sells the same item to the customer for OMR 480. Find the VAT paid by the retailer.
- A retailer purchased an item from the wholesaler for OMR 1000. If the retailer sells the same item for OMR 1500. The tax rate is 10%. How much tax the customer will pay? a. OMR 250 b. OMR 50 O c. OMR 100 O d. OMR 150In a certain country, electricity charges are calculated based on a the following table:Fixed chargeCharge per kwHI used$4.0012 centsCalculate the electricity charges for a customer who used 1003 KWH.There is a government tax of 15% on the electricity charges.Calculate the tax on the customer's electricity charges, giving your answer to thenearest cent.Calculate the total amount paid by the customer.a) Briefly explain the meaning of cash discount. b) A retailer sold a product to customer for RO 700 and the rate of value added tax (VAT) is 5%. If the retailer pays a VAT of RO 15 to the government, i) Find the Input VAT for the retailer. ií) How much customer paid to retailer including VAT?