1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
german
3 years ago
14

Jorge has spent $789.37 at the home improvement store. a storewide sale offers an 11% rebate on everything in the store. if he p

aid a 6% sales tax, how much rebate should he get?
Business
1 answer:
k0ka [10]3 years ago
8 0

Answer:

  • <u>$ 81.92</u>

<u></u>

Explanation:

The<em> rebate</em> is an amount that the store will return to Jorge after he has paid and is calculated over the price but not over the sales tax.

Then, since the $ 789.37 paid include the 6% sales tax, to calculate the rebate, you first must calculate the sales tax and reduce it from the total paid.

<u>Calculation of the sales tax</u>:

  • $ 789.37 = value of the items purchased +  sales tax
  • $ 789.37 = value of the items purchased + 6% of value of the items purchased
  • $ 789.37 = value of the items purchased + 0.06 × value of the items purchased
  • $ 789.37 = value of the items purchased × 1.06
  • $ 789.37 / 1.06 = value of the items purchased
  • $ 744.69 = value of the items purchased

<u>Calculation of the rebate</u>:

  • Rebate = 11% of value of the items purchased
  • Rebate = 0.11 × $ 744.69
  • Rebate = $ 81.92 ← answer
You might be interested in
The herfindahl-hirschman index is the ________ of the percentage market share of each firm summed over the largest 50 firms in a
Ann [662]
<span>The herfindahl-hirschman index is the measure of the percentage market share of each firm summed over the largest 50 firms in a market.
HHI is the measure of market concentration. It is the commonly accepted measure. if H</span>erfindahl-Hirschman index is low and its four firm concentration ratio is low then the market is considered competitive.

3 0
4 years ago
FIFO Method Taxes R Us (TRU), an income tax preparation firm, uses the FIFO method of process costing for its monthly reports. T
Andrews [41]

Answer and Explanation:

The computation is shown below;

But before that return completed & transferred out is

= 100 + 1600 - 200

= 1,500

Now

1) Number of equivalent unit  is

= 1,500 + (200 × 90%) - (100 × 30%)

= 1,500 + 180 - 30

= 1,650 units

2) cost per equivalent unit is

= $173,250 ÷ 1,650 units

= $105

3) cost of completed tax returns is

March 1  $2,500

Add: Beginning finished ($105 × 100 × (1 - 0.30)  $7,350

Add; started and finished = (105 × (1,500 - 100)) $147,000

Total    $156,850

4. The cost of tax retrun in process

= $105 × (200 × 90%)

= $18,900

7 0
3 years ago
In preparing a company's statement of cash flows for the most recent year, Ransom Corp. reported the following information: Repa
makkiz [27]

Answer:  In preparing a company's statement of cash flows for the most recent year, Ransom Corp. reported the following information: Repayment of outstanding bonds $107,000 Purchase of treasury stock $62,000 Issuance of common stock $46,000 Payment of cash dividends $15,000 Net cash flows from financing activities for the year were <u>$138,000.</u>

Explanation:

Repayment of outstanding bonds ($107,000)

Purchase of treasury stock (62,000)

Issuance of common stock 46,000

Payment of cash dividend (15,000)

Net cash used by financing activities = $107,000 plus $62000 minus $46,000 plus $15,000 equals $138,000.

7 0
4 years ago
On January 1, 2021, Hage Corporation granted incentive stock options to purchase 18,000 of its common shares at $7 each. The opt
saveliy_v [14]

Answer:

104,000

Explanation:

The computation of diluted earnings per share for the quarter is shown below:-

Particulars                                                    Shares

Proceeds from exercise of options a         $126,000

(18,000 × $7)

Used to repurchase of common stock b    $14,000

( $126,000 ÷ $9)

Number of shares if option is exercised c  18,000

Less: Shares assume repurchased d           14,000

Potential Diluted common shares (e = c-d)  4,000

Add: Number of common shares f               100,000

Number of shares diluted earning per share 104,000

(e + f)

So, to reach the Number of shares diluted earning per share we simply add number of number of common shares with potential diluted common shares.

4 0
4 years ago
CRUZ, INC. Comparative Balance Sheets December 31, 2019 2019 2018 Assets Cash $ 85,600 $ 21,300 Accounts receivable, net 36,800
Sunny_sXe [5.5K]

Answer:

CRUZ, INC

General Ledger Accounts for the Sale of Furniture:

Sale of Furniture

Date                Description                 Debit         Credit         Balance

Dec. 31, 2019  Furniture Account    $49,100                        $49,100

Dec. 31, 2019  Cash Account                            $64,900      $15,800

Dec. 31, 2019  Gain on Sale             $15,800                        $0

Cash Account

Date                Description                 Debit         Credit         Balance

Dec. 31, 2019  Balance b/d               $85,600                        $85,600

Dec. 31, 2019  Sale of Furniture       $64,900                      $150,500

 

Explanation:

Since the Furniture was sold at its book value of $64,900, the cash receipt equals this amount.  This is compared with the Furniture's book value of $49,100 to obtain a Gain on Sale of Furniture of $15,800.

7 0
3 years ago
Other questions:
  • Bebjamin harrison administration reduced surplus by giving a 2 cent subsidy to american _________ producers, and reduced taxes o
    14·1 answer
  • g The marginal tax rate is the total taxes paid as a percentage of total income. the sum of all individual tax rates. the increa
    8·1 answer
  • Joshua, an HR manager in a multinational firm, is recruiting employees for his firm. During the self-introduction stage, one of
    7·2 answers
  • A federal covered registered investment adviser completes a notice filing with the State on October 1st. This will:
    13·1 answer
  • Cook Co. determined that the net value of its accounts receivable at December 31, 20X4, based on an aging of the receivables, wa
    14·1 answer
  • Splish Brothers Inc. accepted a national credit card for a $11200 purchase. The cost of the goods sold is $7200. The credit card
    6·1 answer
  • 2. What is the number one type of lift truck accident?
    7·1 answer
  • Bob, a bartender who saw duty in Vietnam, refuses to serve Asians in his bar because he believes that Asians have no business li
    5·1 answer
  • If philip b decided to formulate a lower-price, lower-quality hair care line, it should sell this new product line at.
    15·1 answer
  • Happinessistheroad Corp. has the following information available regarding its labor: Managers expected to pay $11 per direct la
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!