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Answer:
Option (b) is correct.
Explanation:
Sale value of the merchandise = $74,900
Sales tax liability = $74,900 × (7% ÷ 107%)
= $4,900
Sale value prior to sales tax = $74,900 - $4,900
= $70,000
Sales tax @7% on $70,000 = $4,900
Hope the above calculation will clear the concept since the question clearly mention that
Calhoun Crockery sold merchandise; the total proceeds collected, including a 7% sales tax, amounted to $74,900.
This $74,900 includes 7% tax also it means that the collected proceed is 100% + 7% = 107%
which includes 7% tax liability.
Answer:
D. ($100,000)
Explanation:
Calculation for what The effect of these events and transactions on 2020 income from continuing operations net of tax would be
Continuing operations net of tax=(20%*$125,000)-$125,000
Continuing operations net of tax=$25,000-$125,000
Continuing operations net of tax=($100,000)
Therefore The effect of these events and transactions on 2020 income from continuing operations net of tax would be ($100,000)
In order to reduce the Juuling by 20%, price would have to rise by 50%.
<h3>What is price elasticity of demand?</h3>
Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.
Price elasticity of demand = percentage change in quantity demanded / percentage change in price
Demand is inelastic if a small change in price has little or no effect on quantity demanded. The absolute value of elasticity would be less than one.
<h3>What should be the percentage rise in price?</h3>
0.4 = 20%/ price
price = 20% / 0.4
= 50%
To learn more about price elasticity of demand, please check: brainly.com/question/18850846
The equity of Alliance Company is $160,000 and the total liabilities are $80,000. The total assets are $2,40,000.
According to the accounting equation:
ASSETS= EQUITY+LIABILITIES
ASSETS= 1,60,000+80,000
ASSETS= $2,40,000
The total assets are $2,40,000.
Complete Question: The equity of Alliance Company is $160,000 and the total liabilities are $80,000.
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