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3 years ago

If a concession stand received $5,550 in gameday sales, and its profit for the event was $3,330, what were the expenses?

Business

1 answer:

frez [133]3 years ago

3 0

Answer: $1,110 .

Explanation:

Given : Amount received by concession stand in gameday sales = $5,550

i.e. Gross income = $5,550

Profit for the event = $3,330

i.e. Net income =$3,330

According to the Net income formula ,

Gross income - expenses = Net income

⇒ Expenses = Gross income - Net income

⇒ Expenses = $5,550- $3,330

⇒ Expenses = $1,110

Thus , the expenses were $1,110 .

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3 years ago

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Answer:

Nico invest $2500 at 9% interest rate and $800 at 4% interest rate.

Explanation:

He invests some money at 9%, and $1700 less than that amount at 4 %.

Let Nico invest $x at 9%.

It means he invest $( x-1700) at 4%.

The investments produced a total of $257 interest in 1 yr.

$x\times \frac{9}{100}+(x-1700)\times \frac{4}{100}=257$

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$0.13x=257+68$

$0.13x=325$

Divide both sides by 0.13.

$x=2500$

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Nico invest $800 at 4% interest rate.

Therefore Nico invest $2500 at 9% interest rate and $800 at 4% interest rate.

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3 years ago

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Shkiper50 [21]

Answer:

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2. Bonds Payable (due in 8 years) ⇒ LONG TERM LIABILITY, NOT A CONTRA ACCOUNT

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4. Deficit ⇒ PART OF RETAINED EARNINGS, NOT A CONTRA ACCOUNT

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3 years ago

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3 years ago

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Dennis_Churaev [7]

Answer:

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Explanation:

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