In Bali, Daniel changed $110 Australian to 924 000 Rupiah, with no commission included. How many Rupiah would he get if he changed $12 Australian using the same conversion? Multiple choice :- A. 100800 RUPIAH B. 10800 RUPIAH C. 175000 RUPIAH D 17500 RUPIAH
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- Assuming that a Nissan Car Manufacturing Company sold 100 cars to the wholesale trader for OMR 7,500 each plus VAT. The wholesale trader sold all the 100 cars to the retailer showroom for OMR 8,000 each plus VAT. The retailer showroom realized OMR 850,000 after selling all the 100 cars to the local customers plus VAT. Assume the rate of Value Added Tax (VAT) throughout in Oman is 5%. There Input tax credit available in Nissan Car Manufacturing Company account was OMR 42,500. ANSWER QUESTION NO 15 TO 18 Question 15 What will be the total tax burden by the consumers? a. OMR 85,000 b. OMR 42,500 c. OMR 40,000 d. OMR 47,500 Question 16 Which of the following statement will be correct for Nissan Car Manufacturer? a. Tax to be refunded from Government is OMR 5000 b. Tax to be payable to Government is OMR 37,500 c. Tax to be refunded from Government is OMR 42,500 d. Tax to be payable to Government is OMR 5000 Question 17 What will be the…4. Mahmood buys a commodity from the wholesaler at OMR 1,200 and was charged by VAT at the rate prescribed of 10%. He fixes the price of this commodity at OMR 1,500 for the customer and in turn he charges VAT at the same rate. Calculate the amount of Value Added tax (VAT) paid by Mahmood to the government. A. OMR 120 B. OMR 270 C. OMR 150 D. OMR 30You are an exporter from Indonesia and have to fill the quotation for 2 Tons of Cassava. Based on the quotation, the importer is in Korea. Assume that the unit price is $5 per kg. You have to take the decision on the amount to be quoted. How is your quotation affected by Incoterm?Quote Price includes Additional Cost ($)EXW Ex works 400FCA Free carrier 100FAS Free alongside ship 300FOB Free on board 150CFR Cost and freight 550CIF Cost, insurance and freight 100DEQ Delivered ex quay 100DDP Delivery duty paid 700 a. How much does the exporter have to pay as sea freight charges from Indonesia to Korea?b. What would be the total price to be quoted to the importer, if the marine insurance cost is $75 to port in Korea?
- ORANGE PRODUCTS INC. Orange Products Inc. is a producer of juice drinks in Florida, USA. Until now, the company has confined its operations and sales to the United States, but its CEO, Ray Jalkio wants to expand into the Pacific Rim. The first step is to set up sales subsidiaries in Japan and Australia. then to set a production plant in Japan, and finally to distribute the product throughout the Pacific Rim. The firm's CFO, Janet Jackson, is enthusiastic about the plan, but she is worried about the implications of the foreign expansion on the firm's financial management process. She has asked your group to develop a tutorial package that explains the basics of multinational financial management. The tutorial will be presented at the next management committee (ManCom) meeting. Consider the following exchange rates: US Dollar Required to buy one unit of Foreign Currency Number of units of Foreign Currency per US Dollar Japanese Yen Australian Dollar 0.0091 109.89 0.760 1.316Merchant Abdul Rahman imported 1,000 baby strollers from abroad, at a value of 200,000 shekels, in addition to the costs of shipping the goods carried by Merchant Abdul Rahman, at a value of 10,000 shekels. If you know that the rate of customs duties = 10% + 5 shekels for each cart. The purchase tax rate is 20%, and the price increase = 25%. Calculate each of the following: Please show the solution method1-Import price of the goods2-All taxes due on the goods (with full solution to be shown7. Clinton Horvath purchases a $147.50 tool set and a tool box for $27.55. The sales tax rate is 6%. What is the sales tax on Clinton's purchases? 8. Isabel Merquez purchases eight snark plugs at $1.6 fo ns of oit at $1. 49 3.79. The sales tax rate is 7%. per o 20 and a. wwhat is the total selling price?
- Question 1: Value Added Tax Ali, a consumer, buys electronics worth $20,000, while Consumer Jumabuys for $45,000 and Consumer Saif spends to the value of $100,000. VAT is charged at 5% on the price marked on the products. What is the VAT payable to the government? Explain the type of taxation system applicable in this situation. Is this system of taxation fair? Explain why this system is being criticised?Q3: Oman Manufacturing Company a handicraft manufacturer printed the price of its goods as RO 120 per handicraft. Manufacturer allowed a discount of 30% to the wholesaler who in his turn allowed a discount of 20% on the printed price to the retailer. If the prescribed rate of VAT on the goods is 15% and the retailer sells it to the consumer at the printed price then:a) Find the value added tax paid by the wholesaler and the retailer. b) Find the price including value added tax paid by the customer to buy the handicraft. c) Find the amount of tax collected by the government from wholesaler and retailer. d) If wholesaler had sold the product at printed price to retailer and no discount has been offered, retailer would have made more profit?. Discuss with reasons Note: only solve the last remaining question please.Q3: Oman Manufacturing Company a handicraft manufacturer printed the price of its goods as RO 120 per handicraft. Manufacturer allowed a discount of 30% to the wholesaler who in his turn allowed a discount of 20% on the printed price to the retailer. If the prescribed rate of VAT on the goods is 15% and the retailer sells it to the consumer at the printed price then:a) Find the value added tax paid by the wholesaler and the retailer. b) Find the price including value added tax paid by the customer to buy the handicraft. c) Find the amount of tax collected by the government from wholesaler and retailer. d) If wholesaler had sold the product at printed price to retailer and no discount has been offered, retailer would have made more profit?. Discuss with reasons
