Bad Brad sells used semi-trucks and tractor trailers in the Texas panhandle. Bad Brad has sales as follows: Bad Brad State Sales Colorado $234,992 Oklahoma 402,450 New Mexico 675,204 Texas 1,085,249 Total $2,397,895 Bad Brad is a Texas corporation. (Round your answers to 2 decimal places.) b. Bad Brad has income tax nexus in Colorado and Texas. Oklahoma and New Mexico sales are shipped from Texas (a throwback state). What are the Colorado and Texas sales apportionment factors? Colorado sales factor % Texas sales factor %
Bad Brad sells used semi-trucks and tractor trailers in the Texas panhandle. Bad Brad has sales as follows: Bad Brad State Sales Colorado $234,992 Oklahoma 402,450 New Mexico 675,204 Texas 1,085,249 Total $2,397,895 Bad Brad is a Texas corporation. (Round your answers to 2 decimal places.) b. Bad Brad has income tax nexus in Colorado and Texas. Oklahoma and New Mexico sales are shipped from Texas (a throwback state). What are the Colorado and Texas sales apportionment factors? Colorado sales factor % Texas sales factor %
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Bad Brad sells used semi-trucks and tractor trailers in the Texas panhandle. Bad Brad has sales as follows:
Bad Brad | ||
State | Sales | |
Colorado | $234,992 | |
Oklahoma | 402,450 | |
New Mexico | 675,204 | |
Texas | 1,085,249 | |
Total | $2,397,895 | |
|
Bad Brad is a Texas corporation. (Round your answers to 2 decimal places.)
b. Bad Brad has income tax nexus in Colorado and Texas. Oklahoma and New Mexico sales are shipped from Texas (a throwback state). What are the Colorado and Texas sales apportionment factors?
|
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education