10. You purchase a $196.00 tent, two sleeping bags at $49.50 each, a campstool for$15.95, and two air mattresses at $27.90 each. The sales tax rate is 6%.a. What is the total selling price of your purchases?b. What is the sales tax on your purchase?

SELLING PRICE : = COST OF PURCHASE + SALES TAX SALES TAX : = COST OF PURCHASE X SALES TAX RATE

Answered: 10. You purchase a $196.00 tent, two…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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10. You purchase a $196.00 tent, two sleeping bags at $49.50 each, a campstool for $15.95, and two air mattresses at $27.90 each. The sales tax rate is 6%. a. What is the total selling price of your purchases? b. What is the sales tax on your purchase?