Q: What will the 6 percent sales tax be on purchases totaling 145.50?

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If S was the selling price, S + 8% of S = S*1.08 = 15714 So S = 15714/1.08 = 14550.

Using the mystery of arithmetic, you can calculate the amount of sales tax by multiplying your purchases by the tax rate to get the amount of sales tax. In this case $7.63 X .081 = .62. To get the total you multiply the amount of purchases by 1 plus the tax rate: $7.63 X 1.081 = $8.25.

5 percent sales tax for 19.74 is 0.99

It depends ! If you're saying the Tennessee tax rate is 7.5% but you get charged an additional 9.25 % for purchases in Maury county - then yes, you add both together. HOWEVER - If purchases in Maury county are simply charged at a flat rate of 9.25% (7.5% plus an additional 1.75%), then you must treat them as separate items. Combining the figures would give you the wrong total !... and make you pay more tax !

64.79 (A+)

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For retailers, it is 18% on their mark-up.

If S was the selling price, S + 8% of S = S*1.08 = 15714 So S = 15714/1.08 = 14550.

Smithfield Foods had sales totaling over $3.7 billion in 1999

Yes purchase returns are deducted from purchases to calculate the net amount of purchases and that's why included in cost of sales.

Purchase journal only records and deals in with purchases and don't deal with sales items.

Cost of sales = opening stock + purchases-closing stock Cost of sales = opening stock + purchases-closing stock

what is the sales tax on a purchase of $264.00

There is no sales tax on real estate purchases.

Direct cost of sales is that cost which directly identifiable with sales like purchases etc.

credit sales