Susie's Sweet Shop has the following sales, payroll, and property factors: Item Iowa Missouri Sales 70.50% 33.31% Payroll 90.60% 7.40% Property 75.02% 26.64% What are Susie's Sweet Shop's Iowa 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: Iowa and Missouri both use a three-factor apportionment formula. Iowa and Missouri both use a four-factor apportionment formula that double-weights sales. Iowa uses a three-factor formula and Missouri uses a single-factor apportionment formula (based solely on sales).
Susie's Sweet Shop has the following sales, payroll, and property factors: Item Iowa Missouri Sales 70.50% 33.31% Payroll 90.60% 7.40% Property 75.02% 26.64% What are Susie's Sweet Shop's Iowa 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: Iowa and Missouri both use a three-factor apportionment formula. Iowa and Missouri both use a four-factor apportionment formula that double-weights sales. Iowa uses a three-factor formula and Missouri uses a single-factor apportionment formula (based solely on sales).
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Susie's Sweet Shop has the following sales, payroll, and property factors:
| Item | Iowa | Missouri |
|---|---|---|
| Sales | 70.50% | 33.31% |
| Payroll | 90.60% | 7.40% |
| Property | 75.02% | 26.64% |
What are Susie's Sweet Shop's Iowa 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:
- Iowa and Missouri both use a three-factor apportionment formula.
- Iowa and Missouri both use a four-factor apportionment formula that double-weights sales.
- Iowa uses a three-factor formula and Missouri uses a single-factor apportionment formula (based solely on sales).
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