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74. Desmond purchased a smart phone for $800, designer tennis shoes for $750, and Jewelry for $600 from out of state retailers that did not collect tax. Although the total price of all the items is $2150, the price of each item is less than $1000. Since non of these individual items are over $1000 Desmond is not required t use the tax worksheet and may choose to use the tax look up table. Desmond California adjusted gross income was $155,000. What is the amount of use tax he must report? A. $11 B. $13 C. $15 D.$1240

74. Desmond purchased a smart phone for $800, designer tennis shoes for $750, and Jewelry for $600 from out of state retailers that did not collect tax. Although the total price of all the items is $2150, the price of each item is less than $1000. Since non of these individual items are over $1000 Desmond is not required t use the tax worksheet and may choose to use the tax look up table. Desmond California adjusted gross income was $155,000. What is the amount of use tax he must report? A. $11 B. $13 C. $15 D.$1240

FINANCIAL ACCOUNTING
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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74. Desmond purchased a smart phone for $800, designer tennis shoes for $750, and Jewelry for $600 from out of state retailers that did not collect tax. Although the total price of all the items is $2150, the price of each item is less than $1000. Since non of these individual items are over $1000 Desmond is not required to use the tax worksheet and may choose to use the tax look up table. Desmond California adjusted gross income was $155,000. What is the amount of use tax he must report? A. $11 B. $13 C. $15 D.$1240
Transcribed Image Text:74. Desmond purchased a smart phone for $800, designer tennis shoes for $750, and Jewelry for $600 from out of state retailers that did not collect tax. Although the total price of all the items is $2150, the price of each item is less than $1000. Since non of these individual items are over $1000 Desmond is not required to use the tax worksheet and may choose to use the tax look up table. Desmond California adjusted gross income was $155,000. What is the amount of use tax he must report? A. $11 B. $13 C. $15 D.$1240
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