Ajinkya Electronic Systems, a company in India that manufactures many different electronic products, has to purchase goods and services from a variety of suppliers (wire, diodes, LED displays, plastic components, etc.). The table below shows several suppliers and the VAT tax rates associated with each. It also shows the purchases (in $1000 units) that Ajinkya made (before tax) from each supplier in the previous accounting period. Assume Ajinkya’s sales to end users were $9.2 million and Ajinkya’s products carry a 15% VAT.
 FIGURE 1.png)
What was the amount of VAT Ajinkya sent to the Treasury of India?
Taxes sent = amount collected – amount paid
= 9,200,000(0.15) – 235,720 (from problem 17.72)
= $1,144,280
You might also like to view...
En un circuito de CA que sólo contiene resistencia, fluirán _____ si la resistencia son 10 ohmios y la tensión son 120V.
a. 10A b. 12A c. 14A d. 16A
Electrical energy is the product of power and time.
Answer the following statement true (T) or false (F)
Convert 1.597° into degrees and minutes. Do not round
What will be an ideal response?
Technician A says that most current Class 8 trucks use power-assisted steering. Technician B says that rack and pinion steering is a recent introduction in trucks. Who is correct?
A. Technician A only B. Technician B only C. Both A and B D. Neither A nor B