TB SA Qu. 19-83 (Static) Calculate... Calculate (A) actual sales and (B) sales tax liability. Total sales: $1,110.50 (includes a 7% tax). Note: Round your answers to the nearest cent. A. Actual sales B. Sales tax liability
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50 Sales tax rate = 7% To find the actual sales amount, we need to first calculate the sales amount before the tax was added. This can be done by dividing the total sales by 1 plus the tax rate (1 + 0.07). Actual sales = Total sales / (1 + tax rate) Actual sales Show more…
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