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How do I Calculate the gross figure when only the VAT amount is known?
Wiki User
∙ 13y ago
Multiply the VAT figure by 5 ie: VAT amount £20 x 5 gives you a net figure of £100.00.
Wiki User
∙ 13y ago
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How do you calculate the vat figure when only the gross amount is known?
Divide by 1.whatever the rate is. ie If vat is 17.5% you would divide the gross by 1.175 to get the net figure, the vat is the difference between the two.
How do you calculate net sales when gross margin is known?
Gross margin (also known as gross profit) is the difference between Net sales and Cost of goods sold: Net sales - Cost of goods sold = Gross margin Therefore, if you know Gross margin, add it to Cost of goods sold to get Net sales.
What is a word for Total amount of pay before deductions?
Gross income is the total amount of money before taxes are took out. This is also known as taxable income.
True or false your take-home pay is known as your gross pay?
That is false. Gross pay is the amount that an employer pays, before deductions for taxes. What you actually take home is called the net pay.
What is more gross pay or net pay?
Gross pay is higher than net pay. This is because gross pay includes salaries and bonuses earned by an employee of a company. On the other hand, net pay is obtained when taxes are deducted from gross pay. Therefore, gross pay is higher. The difference between gross pay and net pay can be explained using the following example: David works in a factory. His hourly rate is $3. He has worked 8 hours a day for 26 days of the month. Taxes deducted are FICA tax (3%), and State tax (2%). Calculate his gross pay and net pay. In the above example, David's gross pay is $624, which is obtained by multiplying hourly rate, hours worked per day, and number of days. His net pay will be $592. This is obtained when FICA tax ($19) and State tax ($13) is deducted from gross pay. Thus, gross pay is always higher than net pay.
How do you calculate the vat figure when only the gross amount is known?
Divide by 1.whatever the rate is. ie If vat is 17.5% you would divide the gross by 1.175 to get the net figure, the vat is the difference between the two.
What is the amount of space a 2-D figure occupies?
The amount of space a 2-D figure occupies is known as area.
How do you calculate net sales when gross margin is known?
Gross margin (also known as gross profit) is the difference between Net sales and Cost of goods sold: Net sales - Cost of goods sold = Gross margin Therefore, if you know Gross margin, add it to Cost of goods sold to get Net sales.
What is the total amount of money a country makes in a year known as?
Gross Domestic Product (GDP)
What is gross rate?
The interest accumulated on the amount of money held in a savings account. A gross rate is known to not consider tax so comparison is suggested.
What is the greatest amount of lines of symmetry a figure can have that is known?
a circle has infiniti lines of symmetry
The health of the economy is measured by adding the value of all goods and services produced this figure is known as what?
gross national product. nova net answer.
What is a word for Total amount of pay before deductions?
Gross income is the total amount of money before taxes are took out. This is also known as taxable income.
When governments calculate the value of real property it is called?
When governments calculate the value of real property, it is known as assessment. That assessment is utilize to calculate the taxable amount on a particular property.
What is net typing speed?
Gross speed is raw speed. It is a calculation of exactly how fast you type with no error penalties.Net speed takes accuracy into account. To calculate Net WPM, take your gross WPM result and subtract the amount of errors you left in per minute, also known as the error rate.
True or false your take-home pay is known as your gross pay?
That is false. Gross pay is the amount that an employer pays, before deductions for taxes. What you actually take home is called the net pay.
How do you make standard Mn solution?
Dissolve a known amount of potassium permanganate in a known volume of demineralized water; calculate the concentration of manganese in the solution.
