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mars1129 [50]
3 years ago
15

Tom buys a shirt for $22.00 plus 7% sales tax. His cousin buys a shirt for $18.00 plus 4% sales tax.How much do Tom and his cous

in pay for the shirts? Show your work.Who spent more on tax?
Business
1 answer:
astra-53 [7]3 years ago
3 0

Answer:

Tom paid $23.54 while his cousin spent $18.72. Tom spent more on tax $.082 more than his cousin.

Explanation:

Tom

Cost of shirt = $22

Sales tax = 7%

Total amount paid = 22 + (7% × 22)

                               = 22 + 1.54

                               = $23.54

Tom's cousin

Cost of shirt = $18

Sales tax = 4%

Total amount paid = 18 + (4% × 18)

                               = 18 + 0.72

                               = $18.72

Tom spent more on tax as he spent $1.54 as against his cousin's $0.72.

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The annual inventory of The Bike Shop Inc. shows the following information for mountain bikes: DATE QUANTITY COST TOTAL January
Nesterboy [21]

Answer:

$4,536

Explanation:

LIFO assumes that the units to arrive last will be sold first. Hence inventory valuation is based on the prices of earlier units.

Ending Inventory = 36 x $126 = $4,536

The value of the ending inventory using the LIFO method of inventory pricing is $4,536.

5 0
3 years ago
The first three activities of the human resource management (hrm) process are about ________
victus00 [196]
The first three activities of the human resource management human resource management process ensure that competent employees are identified and selected. The final three activities of the human resource management process ensure that the organization retains competent and high-performing employees. In addition, in organizations, affirmative action programs ensure that protected classes are retained and their opportunities are maintained.
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3 years ago
If total change in cash = $44,000, net operating cash flows = $22,000, and net investing cash flows = ($13,000); then net financ
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Answer:

Net financing cashflows are $ 35,000.

Explanation:

A company generates cashflow from three activities that are cash from operations , cash from financing activities and cash from investing activities. The company net cash flow is total of these above specified. So we can determine net financing cashflows from the equation given below.

<em>total change in cash = net operating cash flows + net investing cash flows + net financing cash flows</em>

net financing cash flows = $ 35,000

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8 0
3 years ago
Jack would like to have $1.25M to retire in 35 years. He will get $375,000 the day he retires from his company's pension plan th
erma4kov [3.2K]

Answer:

The correct answer is C.

Explanation:

Giving the following information:

Jack would like to have $1.25M to retire in 35 years. He will get $375,000 the day he retires.

He can deposit funds in a money market account which earns 6.5% interest per year, and he would like to make yearly deposits.

<u>First, we need to calculate the final value required:</u>

FV= 1,250,000 - 375,000= $875,000

Now, using the following variation of the final value formula, we can calculate the yearly deposit:

FV= {A*[(1+i)^n-1]}/i

A= annual deposit

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A= (FV*i)/{[(1+i)^n]-1}

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n= 35

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A= (875,000*0.065) / [(1.065^35) - 1]= $7,054.48

The annual deposit is $7,054.48.

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