Coaer Dux sells merchandise in a state where the sales tax rate is 7 percent. Coaer...
Coaer Dux sells merchandise in a state where the sales tax rate is 7 percent. Coaer engaged in the following transactions for 2017. Sales tax of 7 percent is collected on all sales.
- Sales amounted to $88,100
- Cost of goods sold was $17,631 for the year.
- Paid $11,320 in operating expenses for the year.
- Paid the sales tax collected to the state agency.
What is the total amount of expenses for the year? -----------------
Homework Answers
| Cost of goods sold | 17631 |
| Operating expenses for the year | 11320 |
| Total amount of expenses for the year | 28951 |
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Purchased equipment inventory of $176,000 on the account.
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