You are the owner of Cach, a chain of women's clothing boutiques. Your state has a sales
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You are the owner of Cach, a chain of women's clothing boutiques. Your state has a sales tax of 5%, and your city has an additional sales tax of 1.5%. Each quarter you are responsible for making these tax deposits to the city and state. Last quarter your stores had total revenue, including sales tax, of $692,250.(a)How much of this revenue was sales (in $) and how much was sales tax (in $)?s b)How much sales tax (in $) should be sent to the city?$ (c)How much sales tax (in $) should be sent to the state?$
Related Book For
Managerial Economics and Business Strategy
ISBN: 978-0071267441
7th Edition
Authors: Michael R. baye
Posted Date: