Heliot Company operates its business in State H, which levies a 6 percent sales and use tax. This year, Heliot purchased a $600,000 item of tangible property in State K and paid $18,000 sales tax to the state. It also purchased a $750,000 item of tangible property in State L and paid $48,750 sales tax to the state. Firm H transported both items of property into State H for use in its business. Required: a. Compute the use tax that Heliot owes to State H for the property purchased in State K. b. Compute the use tax that Heliot owes to State H for the property purchased in State L. Complete this question by entering your answers in the tabs below. Required A Required B Compute the use tax that Heliot owes to State H for the property purchased in State K. Amount Pre credit use tax Sales tax paid to State K S Use tax owed to State H Required A Required B >
Heliot Company operates its business in State H, which levies a 6 percent sales and use tax. This year, Heliot purchased a $600,000 item of tangible property in State K and paid $18,000 sales tax to the state. It also purchased a $750,000 item of tangible property in State L and paid $48,750 sales tax to the state. Firm H transported both items of property into State H for use in its business. Required: a. Compute the use tax that Heliot owes to State H for the property purchased in State K. b. Compute the use tax that Heliot owes to State H for the property purchased in State L. Complete this question by entering your answers in the tabs below. Required A Required B Compute the use tax that Heliot owes to State H for the property purchased in State K. Amount Pre credit use tax Sales tax paid to State K S Use tax owed to State H Required A Required B >
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
Transcribed Image Text:Heliot Company operates its business in State H, which levies a 6 percent sales and use tax. This year, Heliot purchased a $600,000
item of tangible property in State K and paid $18,000 sales tax to the state. It also purchased a $750,000 item of tangible property in
State L and paid $48,750 sales tax to the state. Firm H transported both items of property into State H for use in its business.
Required:
a. Compute the use tax that Heliot owes to State H for the property purchased in State K.
b. Compute the use tax that Heliot owes to State H for the property purchased in State L.
Complete this question by entering your answers in the tabs below.
Required A Required B
Compute the use tax that Heliot owes to State H for the property purchased in State K.
Amount
Pre credit use tax
Sales tax paid to State K
S
Use tax owed to State H
Required A
Required B >
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