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2 years ago

What is the total cost of a $95. 00 item with a sales tax of 6%?.

Business

1 answer:

serg [7]2 years ago

3 0

The item has total cost paid after sales tax is $100.7.

The total cost for an item is the selling price that is paid after the addition of tax. The tax is the percent amount paid on the item over the selling price.

<h3>Computation for the total cost of the item</h3>

The cost of the item, <em>c</em> = $95

The percent tax added to the sale is, <em>t</em>=6%

The amount of tax paid is given as:

$\text{ Amount}=c\;\times\;\dfrac{t}{100}\\\\ \text {Amount}=95\;\times\;\dfrac{6}{100}\\\\ \text {Amount}=5.7$

The amount of tax paid on the item is $5.7.

The total cost of the item is given as:

$\rm Total \;cost=\textit c\;+\;tax\\\\Total\;cost=95\;+\;5.7\\\\Total\;cost=100.7$

The total cost paid for the item after sales tax is $100.7.

Learn more about tax, here:

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Answer:

Explanation:

The journal entries are shown below:

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(Being recording of the carry forward amount is done)

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4 years ago

In eight years, when he is discharged from the Air Force, Steve wants to buy a $30,000 power boat. Click here to view Exhibit 12

IceJOKER [234]

Answer:

The correct answer is:

(1) $15,054

(2) $12,990

Explanation:

The required table is not given in the question. Please find below the attachment of the table.

Given:

Future value,

= $30,000

If discounting rate is 9%, the present value will be:

= $Future \ value\times PV \ factor(9 \ percent, 8 \ years)$

= $30000\times (\frac{1}{1.09} )^8$

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If discounting rate is 11%, the present value will be:

= $Future \ value\times PV \ factor(11 \ percent, 8 \ years)$

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Answer:

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Price searcher markets share a lot of similarities with perfect competition markets, the main difference is that suppliers and consumers are not price takers. This means that any supplier can change their sales output by changing their price, which leads to greater competition.

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3 years ago

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Answer:

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Preparing cost of goods sold budget:

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Answer:

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