A retailer buys a product from the wholesaler at 120 OMR and wholesaler charges sales tax of 8%. The retailer fixes the price at 180 OMR to the customer at the same tax rate. How much VAT does the retailer pay to the government? a. 4.8 OMR b. 14.4 OMR c. 24 OMR d. 9.6 OMR

A retailer buys a product from the wholesaler at 120 OMR and wholesaler charges sales tax of 8%. The retailer fixes the price at 180 OMR to the customer at the same tax rate. How much VAT does the retailer pay to the government? a. 4.8 OMR b. 14.4 OMR c. 24 OMR d. 9.6 OMR

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 2PA: Stork Enterprises delivers care packages for special occasions. They charge $45 for a small package,...

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4.8 OMR

14.4 OMR

24 OMR

9.6 OMR

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A retailer buys a product from the wholesaler at 120 OMR and wholesaler charges sales tax of 8%. The retailer fixes the price at 180 OMR to the customer at the same tax rate. How much VAT does the retailer pay to the government? O a. 24 OMR O b. 4.8 OMR 14.4 OMR O d. 9.6 OMR
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