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Lunna [17]
3 years ago
5

Brooke works part-time as a waitress in a restaurant. For groups of seven or more customers, the customer is charged 15% of the

bill for Brooke's services. For parties of less than seven, the tips are voluntary. Brooke received $11,000 from the groups of seven or more and $7,000 in voluntary tips from all other customers. Using the customary 15% rate, her voluntary tips would have been only $6,000. Brooke must include $18,000 ($11,000 + $7,000) in gross income.
a. true
b. false
Business
1 answer:
lana66690 [7]3 years ago
7 0

Answer:

The given scenario is <u>TRUE</u>

Explanation:

Using the customary 15% rate, her voluntary tips would have been only $6,000. Brooke must include $18,000 ($11,000 + $7,000) in gross income.

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According to the Uniform Commercial Code's interpretation of an open quantity term, if the quantity term is left open in a contract for the sale of goods courts generally have no basis for determining a remedy.

<h3>What do you mean by Uniform Commercial Code?</h3>

The uniform Commercial code states that a sale consists of the passing of title from the seller to the buyer for a price.

According to the Uniform Commercial code's interpretation of an open quantity term, if the quantity term is left open in a contract for the sale of goods, courts have no basis for the determination of remedy.

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2 years ago
If you decide to advertise in a newspaper, which tip could be used to help you write an effective and appealing ad?
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2 years ago
What is meant by the term design mix -Business
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Where its triangle which takes into account a basic design like economic structure etc....
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2 years ago
Nick is working for an advertising firm making $60,000 per year but considers starting his own advertising company. Nick has det
adoni [48]

Answer:

$66,000

$304,000

Explanation:

The computation is shown below:

Total implicit cost is

= Job left cost + forgone the return on investment

= $60,000 + $100,000 × 6%

= $60,000 + $6,000

= $66,000

And, the total cost is

= explicit cost + implicit cost

= $50,000 + $180,000 + $8,000 + $66,000

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We simply applied the above formulas so that the correct values could come

4 0
3 years ago
Sarasota Company purchased a machine at a price of $103,200 by signing a note payable, which requires a single payment of $130,0
nlexa [21]

Answer:

-7.407%

Explanation:

Let interest rate be x%

Present value of payment = $130,002 * PV of discounting factor (rate%, time period)

$103,200 = $130,002 * 1.0x^3

1.0x^3 = $103,200 / $130,002

1.0x = ($103,200 / $130,002)^(1/3)

1.0x = 0.793834^(1/3)

1.0x = 0.92592660981

x = (0.92592660981 - 1) * 100

x = -0.07407*100

x = -7.407%

3 0
3 years ago
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