Susie's Sweet Shop has the following sales, payroll, and property factors: Item Sales Payroll Property Iowa 70.90% 91.408 75.82% Missouri 33.71% 8.60% 27.44% What are Susie's Sweet Shop's lowa and Missouri apportionment factors under each of the following alternative scenarios? Note: Do not round intermediate calculations. Round your final answers to 2 decimal places. Required:

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Aa.49.

 

Susie's Sweet Shop has the following sales, payroll, and property factors:
Item
Iowa
Sales
70.90%
Payroll
91.40%
Property 75.82%
Missouri
33.71%
8.60%
27.44%
What are Susie's Sweet Shop's lowa and Missouri apportionment factors under each of the following alternative scenarios?
Note: Do not round intermediate calculations. Round your final answers to 2 decimal places.
Required:
a. lowa and Missouri both use a three-factor apportionment formula.
b. lowa and Missouri both use a four-factor apportionment formula that double-weights sales.
c. lowa uses a three-factor formula and Missouri uses a single-factor apportionment formula (based solely on sales).
Complete this question by entering your answers in the tabs below.
Required A Required B Required C
Iowa and Missouri both use a three-factor apportionment formula.
Apportionment
Factor
lowa
Missouri
%
%
Transcribed Image Text:Susie's Sweet Shop has the following sales, payroll, and property factors: Item Iowa Sales 70.90% Payroll 91.40% Property 75.82% Missouri 33.71% 8.60% 27.44% What are Susie's Sweet Shop's lowa and Missouri apportionment factors under each of the following alternative scenarios? Note: Do not round intermediate calculations. Round your final answers to 2 decimal places. Required: a. lowa and Missouri both use a three-factor apportionment formula. b. lowa and Missouri both use a four-factor apportionment formula that double-weights sales. c. lowa uses a three-factor formula and Missouri uses a single-factor apportionment formula (based solely on sales). Complete this question by entering your answers in the tabs below. Required A Required B Required C Iowa and Missouri both use a three-factor apportionment formula. Apportionment Factor lowa Missouri % %
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