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3 years ago

Calhoun Crockery sold merchandise; the total proceeds collected, including a 7% sales tax, amounted to $74,900.

Business

1 answer:

Gala2k [10]3 years ago

4 0

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.

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perations management is part of a production system that can be described in the following manner: Organization: inputs→processe

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Explanation:

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Answer:

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3 years ago

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Answer:

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Explanation:

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Number of payment = n = 14 years

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The coupon rate can be calculated using following formula

Yield to maturity = [ C + ( F - P ) / n ] / [ (F + P ) / 2 ]

7.5% = [ C + ( $1,000 - 1,382.01 ) / 14 ] / [ ( $1,000 + $1,382.01 ) / 2 ]

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3 years ago

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ikadub [295]

Answer:

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