I got this receipt from dinner the other night and they never put the sales tax on the credit card receipt. But I need it for bookeeping purposes. I forgot the formula for figure out how to find the amounts out. Can anyone help?
2007-02-03 06:32:04 · 4 answers · asked by laura_l_rice 1 in Business & Finance ➔ Taxes ➔ United States
Divide the total by 1.0825 (1 pllus the tax rate). That's the original price. Subtract that from the total to get the tax. In your case, the original price was $19.66 and the tax was $1.62. I program an Excel spreadsheet to do this for me - making sure to program it to round up to the nearest 2 place decimal spot.
If Excel isn't your thing, use an online calculator like this one: http://www.members.optusnet.com.au/ncrick/calculators/markup.html
2007-02-03 06:46:25 · answer #1 · answered by Keztacular 3 · 0⤊ 0⤋
The tax was 1.62. Meal was 19.66.
Formula to figure out: x*1.0825= 21.28. Solve for x to be the price of the meal.
2007-02-03 14:37:19 · answer #2 · answered by Rank Roo 4 · 0⤊ 0⤋
Original amount = 19.66
21.28 / 108.25% = 19.66
Final Price / (100% + Tax%) = Original Price
2007-02-03 14:56:45 · answer #3 · answered by dawchuck 1 · 0⤊ 0⤋
19.66 was the orginal amount and 1.62 was the tax.
2007-02-03 14:38:08 · answer #4 · answered by browneyes79 2 · 0⤊ 0⤋