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Rom4ik [11]
3 years ago
6

Mrs. Torres goes out of town on a business trip. She spends 3 nights in a hotel at a charge of $80 per night. She pays 9% tax on

the room and tips the maid service 10% of the room charge. Mrs. Torres also has meals worth $109.30 before tax and she tips 15%. If the total cost of her trip is $420.04, approximately what tax rate does Mrs. Torres pay on her meals
Business
2 answers:
WITCHER [35]3 years ago
8 0

Answer:

The answer is C I took the test.

frosja888 [35]3 years ago
6 0

Mrs Torres pay tax for the meals at the rate of 20%

Explanation:

The daily cost of the hotel room=80$

Total nights spent at hotel=3

Tax on the room=9%

Tip for the maid=10% of the room charge= 10/100*80= 8$

Cost of meal=109.30$

Tip paid =15%

The total cost of the trip=420.04$

Tx charged to Mrs Torres on the meal

Total tax charged on the room= 9/100*(total room charge)

Total room charge= 80*3=240$

Total tax charged on the room=9/100*240=21.6$

Hence the total cost accrued to Mrs Torres=240$+21.6$=261.6$

She paid maid a tip of 10%(8$)

Hence total charge= 261.6+8=269.6$

Let the tax charged at meal be c%

Hence total meal charges=

c/100*109.3+109.30

After this, she paid a tip of 15%

Hence total charge accrued to Mrs Torres would be (c/100*109.3+109.30)+.15*(c/100*109.3+109.30)

It is given that Mrs Torres paid 420.04$ as total bill

Hence (c/100*109.3+109.30)+.15*(c/100*109.3+109.30)=420.04$

Solving for "c" we get it to be as 20%

How to Solve such complex equations- Since the  equation seems to be complex and lengthy

Simply assume any value of "c" and see if it satisfies the equation

Assuming the value of "c" to be 20%- the equation is satisfied. hence the tax at meals was 20%

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2 years ago
The purpose of preparing a direct materials budget is to ________. multiple choice 1 allocate the cost of raw materials to produ
Eduardwww [97]

Answer:

1. estimate the quantity of raw materials to be purchased.

2. ending raw materials inventory for the last period.

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A budget is a financial plan used for the estimation of revenue and expenditures of an individual, organization or government for a specified period of time, often one year. Budgets are usually compiled, analyzed and re-evaluated on periodic basis.

The first step of the budgeting process is to prepare a list of each type of income and expense that will be part of the budget.

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3 0
2 years ago
The original price of a television is $500 you have a coupon for 25% off excluding tax what is the cost of the tv
ch4aika [34]
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Cost of the TV plus tax = 500*1.08 = $540
Worth of the 25% coupon = 0.25*540 = $135
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The cost of the TV with a coupon for 25% off excluding tax is $405.

Answer: $405

6 0
3 years ago
Peerless Corporation (a U.S. company) made a sale to a foreign customer on September 15, for 119,000 crowns. It received payment
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Answer:

Exchange rate on September 15: 1 Crown = $0.61; 119,000 Crown = (119,000*$0.61) = $72,590.

September 30 = (119,000*0.65) = $77,350.

October 15 = (119,000*$0.60) = $71,400.

                        JOURNAL ENTRY    

Date          Account                           Debit          Credit

15-Sep Account receivable         $72,590

                      Sales                                              $72,590

                (Sale to a foreign customer for 119,000 crown Exchange rate = $0.61)

30-Sep     Account receivable $4,760

                       Foreign currency exchange gain $4,760

                        ($77,350-$72,590)

15-Oct      Foreign currency exchange loss $5,950

                        Account receivable                               $5,950

                        ($71,400-$77,350)

               Cash                                                $77,350

                        Accounts Receivable                              $77,350

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Intangible assets have a use-life of more than one year. They can be created or acquired, just like tangible assets. From the list in the case, The company's cash reserves, company's plant and equipment, and company headquarters are tangible assets because they have a physical presence.

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