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irina [24]
3 years ago
7

An auction house charges a commission of 15% on the first $50,000 of the sale price of an item, plus 10% on the amount of of the

sale price in excess of $50,000. What was the price of a painting for which the house charged a total commission of $24,000?A. $115,000B. $160,000C. $215,000D. $240,000E. $365,000
Business
1 answer:
yKpoI14uk [10]3 years ago
7 0

Answer:

C. $215,000

Explanation:

The statement indicates that on the first $50,000 the auction house charges 15%, which means that for the first $50,000 the house charged:

$50,000*0,15%= $7,500

From the total commission of $24,000, $7,500 were for the first $50,000.

$24,000-$7,500= $16,500

Now, you have to determine the amount in excess of $50,000 from which the house charged the remaining $16,500. So, you have that an x amount multiplied for 10% or 0,10 is equal to $16,500:

x*0,10= 16,500

x= 16,500/0,10= 165,000

You have determined that the house charged $7,500 on the first $50,000 and $16,500 on $165,000 which means that the price of the painting is:

$50,000+$165,000= $215,000

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4 0
3 years ago
What happens to the Purchasing Power of Money, Prices and the Nominal Rate of Interest in CASE 1: the case of an increasing supp
velikii [3]

Answer:

Case 1: The purchasing power of money will decrease, prices will increase and nominal interest rate will decrease.

Case 2: The purchasing power of money will increase, prices will decrease and nominal interest rate will increase.

Case 3: The purchasing power of money will increase, prices will decrease and nominal interest rate will increase.

Case 4: The purchasing power of money will decrease, prices will increase and nominal interest rate will decrease.

Explanation:

Case 1: The purchasing power of money will decrease, prices will increase and nominal interest rate will decrease.

Case 2: The purchasing power of money will increase, prices will decrease and nominal interest rate will increase.

Case 3: The purchasing power of money will increase, prices will decrease and nominal interest rate will increase.

Case 4: The purchasing power of money will decrease, prices will increase and nominal interest rate will decrease.

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3 years ago
Journalize the following merchandise transactions. The company uses the perpetual inventory system.
aliya0001 [1]

Answer:

a.

Accounts Receivable $17,300 (debit)

Cost of Goods Sold $12,600 (debit)

Sales Revenue $17,300 (credit)

Inventory $12,600 (credit)

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Cash $15,916 (debit)

Accounts Receivable $15,916 (credit)

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The Perpetual Inventory system records the cost of inventory after every sale.

a. Sale of Sold merchandise on account

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J1

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Sales Revenue $17,300 (credit)

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b.Received payment within the discount period

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5 0
3 years ago
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gizmo_the_mogwai [7]
<h2>Hello!</h2>

The answer is C. Coercive.

<h2>Why?</h2>

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Coercive power can be a problem if it's applied to everyone, every time, the result of coercive actions applied in an inappropriate way could result in useful people resignations. That's why coercive tools are the last resort if corrections are needed.

Have a nice day!

6 0
3 years ago
Read 2 more answers
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