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)
How much tax did Ajinkya keep from the tax it collected based on the purchases it made from supplier A?
Taxes paid to supplier A = 350,000(0.04) = $14,000
Ajinkya kept none of the VAT due to supplier A.
You might also like to view...
The difference between an N-channel and a P-channel JFET is _____.
a. that the P-channel JFET contains a drain terminal b. that the N-channel JFET contains a drain terminal c. the allowable ampacity d. the polarity of the voltage
Explain how a septic system works
What will be an ideal response?
In cases of electric shock, the first step to take is to __________.
A. administer CPR B. disconnect the power at the main switch C. move the victim from the area D. place a pillow under the victim's head
A drawing that includes the assembly of only a portion or segment of a more complex product is called a subassembly drawing.
Answer the following statement true (T) or false (F)