Vail book mart sells books and other supplies to students in a state where the sales tax rate is 8 percent. vail engaged in the following transactions for 2018. sales tax of 8 percent is collected on all sales. book sales, not including sales tax, for 2018 amounted to $250,000 cash. cash sales of miscellaneous items in 2018 were $85,000, not including tax. cost of goods sold was $190,000 for the year. paid $117,000 in operating expenses for the year. paid the sales tax collected to the state agency. required what is the total amount of sales tax vail book mart collected and paid for the year? what is the vail book mart’s net income for the year?

What preforms the best over the long term? a) bonds b) mutual funds c) stocks d) certificate of deposit

Which of the following statements is correct? a. two firms with identical sales and operating costs but with different amounts of debt and tax rates will have different operating incomes by definition. b. free cash flow (fcf) is, essentially, the cash flow that is available for interest and dividends after the company has made the investments in current and fixed assets that are necessary to sustain ongoing operations. c. retained earnings as reported on the balance sheet represent cash and, therefore, are available to distribute to stockholders as dividends or any other required cash payments to creditors and suppliers. d. if a firm is reporting its income in accordance with generally accepted accounting principles, then its net income as reported on the income statement should be equal to its free cash flow. e. after-tax operating income is calculated as ebit(1 - t) + depreciation.

If a seller prepaid the taxes of $4,400 and the closing is set for may 19, using the 12 month/30 day method what will the buyer owe the seller as prorated taxes?