Answer: You were charged $15.37 pre tax
Restaurant will pay $1.23 in sales taxes
Explanation:
We are going to have to use our trusted friend Algebra to solve this one.
In calculating the amount paid for the lunch without any taxes we will say that "x" is the amount that you paid without taxes. Putting it in an equation would be,
16.60 = x * 1.08
16.60 = 1.08x
x = 16.60/ 1.08
= 15.37
You were charged $15.37 without taxes.
To calculate how much the restaurant is to pay in taxes you can just subtract the post tax and pre tax figures which would be,
= 16.6 - 15.37
= $1.23
Restaurant will pay $1.23 in taxes.
If you need any clarification do react or comment.
Answer:
Assets = Liabilities + Stockholder's
Equity
(a) cash = $3,940 Notes payable = $3,940
(short term)
(b) cash = $4,630 Common
stock =$4,630
(c) Equipment = $1000 Notes payable = $800
Cash = (-$200) (short term)
(d) Supplies = $300
Cash = (-$300)
(e) Supplies = $700 Accounts receivable = $700
Answer:
$160,000
Explanation:
Calculation of the car dealership's profit
Using this formula
Profit= Total revenue- Amount Spend
Where,
Total revenue=$300,000
Amount Spend=$140,000
Let plug in the formula
Profit =300,000-140,000
Profit =160,000
Therefore the car dealership's profit will be $160,000
