1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Hoochie [10]
3 years ago
15

Silver Corporation, which operates a department store, sells a television to a store employee for $300. The regular customer pri

ce is $500, and the gross profit rate is 25%. The corporation also sells the employee a service contract for $120. The regular customer price for the contract is $150. How much must the employee include in income from both these transactions in total
Business
1 answer:
tatuchka [14]3 years ago
8 0

Answer:

$75

Explanation:

Calculation to determine How much must the employee include in income from both these transactions in total

Customer price for property $500

Less: Gross profit (25%*$500) ($125)

($500-$125=$375)

Employee price ($300)

INCOME $75

($375-$300)

Customer price for service $150

Less: (20%*$150)max exclusion (30)

($150-$30=$120)

Employee price 120

INCOME 0

($120-$120=$0)

Therefore the amount that the employee must include in income from both these transactions in total is $75

You might be interested in
Imagine that your friend is the CEO of a company, called Magna Clothes, that manufactures cool new clothing accessories for both
astraxan [27]

Answer:

a) The WTO allows countries to have observer status before becoming full members, so they can follow discussions on topics that are of direct interest to them.

⇒ TRUE, that way potentially new members get to understand how the WTO works.  

c) The WTO came into existence in January 1995.

⇒ TRUE, the WTO birthday is January 1, 1995.

d) Opponents of the WTO sometimes contend that the organization focuses too narrowly to the globalization of trade, at the expense of human rights and the environment.

⇒ TRUE, the WTO's focus is on trade, and it tends to ignore many social and environmental factors.

6 0
3 years ago
The Theta of an option is defined as: A. expected change in the option premium for a small change in volatility. B. expected cha
Gre4nikov [31]

Answer: C. expected change in the option premium for a small change in time to expiration

Explanation: The theta of an option is simply defined as the expected change in the option premium for a small change in time to expiration. When all other variables are kept constant, options generally will lose value the closer it gets to its maturity as such, theta of options measure the rate of decline or decay in the value of an option due to the passage of time (quantifies the risk that time poses to option buyers) and is expressed as a negative value.

6 0
3 years ago
If you purchase an item in a store you may be charged? Income tax, capital gains tax, sales tax, property tax?
Nesterboy [21]
Sales tax. i just had this question yesterday haha 
4 0
4 years ago
Read 2 more answers
In your own words, briefly give at least two downsides of government debt.
Vlad [161]
1. They have less money to improve things like schools, parks and all that
2. At some point, they will have to pay billions back to get out of debt.
6 0
4 years ago
What are 4 types if businesses
Ipatiy [6.2K]

Types of Ownership. Each type of ownership functions differently and places you in a slightly different role within the company. ...

Sole Proprietorship. Perhaps the most basic type of business entity is the sole proprietorship. ...

Partnership. ...

Limited Liability Company. ...

Corporation. ...

Choosing the Right Option.



5 0
4 years ago
Read 2 more answers
Other questions:
  • During a user's onboarding process, many designers focus on a gradual release of information. this process is called what
    13·2 answers
  • B. if lucinda has only $18 to spend and the price of kewpie dolls and the price of beanie babies are both $6, how many of each w
    11·1 answer
  • How do you suppose the demographics of an aging population of "baby boomers" in the united states will affect the demand for mil
    14·1 answer
  • Using the midpoint method, what is the price elasticity of supply from a price of $4.00 to a price of $4.50 per iced coffee?
    14·1 answer
  • There is a 15 percent probability the economy will boom; otherwise, it will be normal. Stock G should return 15 percent in a boo
    5·1 answer
  • (1 point
    10·1 answer
  • Inventory management is concerned with how much to order and when to order. True or False
    8·1 answer
  • Country b has a gdp of $1 trillion and a gdp per capita of $27,000. its economy is a mix of manufacturing, high tech, services,
    8·1 answer
  • As a promotional tool, podcasting offers the advantage to listeners of:____.
    12·1 answer
  • Luke is the type of leader that concentrates on relationships as he leads and not just tasks. According to fiedler’s contingency
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!