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iren [92.7K]
3 years ago
11

Lisa purchased a hat for $10, a purse for $20, and a book for $23. The sales tax rate was 7.2 percent. What was the total amount

she paid?
Business
1 answer:
zloy xaker [14]3 years ago
7 0
Here is the solution on how much the total amount that Lisa paid:
<span>The total amount for all the items is $53:  $10 + $20 + $23 = $53
Now, 7.2% = 0.072
Compute for the sales tax of each item:
$10 x 0.072 = .72
$20 x 0.072 = 1.44
$23 x 0.072 = 1.66
The total sales tax would be: .72 + 1.44 + 1.66 = $3.82
Now add the Sales tax to the total price of the items. $53 + 3.82 = $56.82
</span>Therefore, Lisa paid $56.82.
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On November 21, 2021, a fire at Hodge Company's warehouse caused severe damage to its entire inventory of Product Tex. Hodge est
GuDViN [60]

Answer:

$142,800

Explanation:

Calculation for the estimated loss on the inventory from the fire, using the gross profit method.

First step is to find the Cost of Goods available for sale

Cost of Goods available for sale = $180,000+$156,000

Cost of Goods available for sale= $336,000

Second step is to find the cost of Goods Sold

Cost of Goods Sold = $236,000 - 30%

Cost of Goods Sold = $165,200

Third step is to find the Cost of Goods Sold

Cost of ending inventory = $336,000 - $165,200

Cost of Goods Sold = $170,800

Last step is to calculate the Estimated loss from fire using this formula

Estimated loss from fire= Cost of Goods Sold - Estimated usable damaged goods

Let plug in the formula

Estimated loss from fire= $170,800 - $28,000

Estimated loss from fire= $142,800

Therefore the estimated loss on the inventory from the fire, using the gross profit method will be $142,800

6 0
2 years ago
Your uncle offers you a choice of $115,0 in 10 years or $52,000 today, if the money is discounted at 9%, which should you do ose
Zarrin [17]

Answer:

1) we would choose the second offer i.e. $52,000 today

2) For A) 10 years at 10%

Future value = $151,405.53

For B) 15 years at 9%

Future value = $278,928.70

Explanation:

1) Future value = $115,000

Time, n = 10 years

Discount rate, r = 9% = 0.09

Now,

Present value of the money provided after 10 years

= Future Value ÷ [ ( 1 + r )ⁿ ]

= $115,000 ÷ [ ( 1 + 0.09 )¹⁰ ]

= $48,577.24

Since,

The Present value of $115,000 is less than the money to offered today i.e $52,000

Hence, we would choose the second offer i.e. $52,000 today

2) Payment per period = $9,500

Future value = Yearly Payment × [ { ( 1 + r ) ⁿ - 1 } ÷ r ]

Thus,

For A) 10 years at 10%

Future value = $9,500 × [ { ( 1 + 0.1 )¹⁰ - 1 } ÷ 0.1 ]

= $151,405.53

For B) 15 years at 9%

Future value = $9,500 × [ { ( 1 + 0.09 )¹⁵ - 1 } ÷ 0.09 ]

= $278,928.70

4 0
2 years ago
A beverage company puts game pieces under the caps of its drinks and claims that one in six game pieces wins a prize. the offici
jek_recluse [69]
Coke and yes 1 in 6 is correct
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3 years ago
Grand River Corporation reported taxable income of $500,000 in year 1 and paid federal income taxes of $105,000. Not included in
kondor19780726 [428]

The corporation's current earnings and profits for year one would be (A) $354,000.

<h3>What is taxable income?</h3>
  • The base on which an income tax system levies tax is referred to as taxable income.
  • In other words, the income is subject to taxation by the government.
  • In general, it includes some or all elements of income before costs and other deductions are deducted.
  • Income, costs, and other deductions differ depending on the country or system.
  • Many systems stipulate that certain types of income are not taxable (also known as non-assessable income) and that certain expenses are not deductible when calculating taxable income.
  • Some systems base tax on current-period taxable income, while others base it on prior-period taxable income.
<h3>To find the current earnings and profit for one year:</h3>

Income + Installment sale = 500,000 + 25,000 = $525,000

Income taxes + tax-exempt income = 170,000 + 1000 = $171,000

525,000 - 171,000 = $354,000

Therefore, the corporation's current earnings and profits for year one would be (A) $354,000.

Know more about taxable income here:

brainly.com/question/26316390

#SPJ4

Complete question:

Grand River Corporation reported taxable income of $500,000 in year 1 and paid federal income taxes of $170,000. Not included in the computation was a disallowed meal and entertainment expense of $2,000, tax-exempt income of $1,000, and deferred gain on an installment sale of $25,000. The corporation's current earnings and profits for year 1 would be:

A) $354,000.

B) $524,000.

C) $500,000.

D) $331,000.

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2 years ago
(tco 5) the head of ministry is equivalent to the _____ in the united states.
sergiy2304 [10]

The correct answer is department secretary.

The head of ministry is equivalent to the departmental secretary in the United States.

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3 years ago
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