Question

Extra points!!Complete the following transactions and explain how they would appear in your register.

Answer 1

Answer:

the final balance as of October 24 is $831.02

Step-by-step explanation:

1. We use a formulae to calculate the final balance as of October 24

2. Bf = I - E + Bi

Where Bf- final balance, Bi- initial balance, I- income, E- expenses

3. Let's get the income

Pay check; 7.25 ×40 × 2 weeks= 580 .

Taxes; 7.65% of 580= 44.37

12% of 580 = 69.6

8.75% of 580 = 50.75

Total taxes= 164.72

Income = 580 - 164.72

= $ 415.28

4. Let get the expenses

One of the sales tax is 6% which will give 1.06 the price of the item. The other expense has no tax. So expenses= 1.06 ×78.54 + 43.9= $ 127.153

Bi = initial balance = $ 542.89

Using the formulae

Bf = I - E + Bi

Final balance= 415.28- 127.1524 + 542.89

=$831.02

Therefore the final balance as of October 24 is $831.02