2) Food bill before tax: $80Sales tax: 7.9% Tip: 20%
1 answer:
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Answer:
Rate of interest will be 3 %
And number of periods will be 8
So option (a) will be correct option
Explanation:
We have given rate of interest = 12 %
And time period = 2 years
We have rate of interest is the money is compounded quarterly
When money is compounded then we divide the rate of interest by 4 and multiply time period by 4
So rate of interest for quarterly will be %
And number of periods will be
So option (a) will be the correct answer
Sheila Recognized gain is
Jacob Recognized gain is
<u>Solution: </u>
Sheila’s Sale:
Amount noticed
Fixed basis
-------------
Gain
Recognized Gain =
Jacob’s Sale:
Amount noticed
Fixed basis
-------------
Gain
Recognized Gain = $8000
The $40,000 profit base of Jacob is same as the adjusted basis of Elane.
Answer:
Total cash to be realized in March = $468,000
Explanation:
As for the provided information, the details are:
Realization of sales:
In the month of Sale = 70%
In the month following sale = 20%
In the next to month following sale = 10%
Thus, for the month of March: Realization shall be:
Sales of March = 70% = $525,000 70% = $367,500
Sales of February = 20% = $375,000 20% = $75,000
Sales of January = 10% = $255,000 10% = $25,500
Total cash to be realized in March = $468,000