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mariarad [96]
3 years ago
14

Santino bought a book for $23.54 the price of the book was $22. what was the sales tax rate

Business
1 answer:
notka56 [123]3 years ago
3 0
Hi there! The answer is 7%

The price of the book is $ 22.
Santino bought it for $ 23.54.
Therefore, the amount of tax is $ 1.54

Now we can find the sales tax rate by using the following formula:
tax \: rate = \frac{tax}{price \: excluding \: tax} \times 100\%

Filling in gives:
tax \: rate \: = \frac{1.54}{22} \times 100\% = 7\%
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weqwewe [10]

Answer:

Amount of the company's total capital stock at December 31, 2019:

Common stock = 8,000 x $15 =                 $120,000

Preferred stock = 2,000 x $30 =               <u>$60,000</u>

Total issued share capital                          $180,000

Add: Net income at 31 December, 2019    <u>$375,000</u>

Total capital stock                                        <u>$ 555,000</u>

<u />

Explanation:

Total capital stock is the aggregate of par value of common stock, par value of preferred stock and net income.

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3 years ago
A firm's optimal output is 1,000 units per month, with a fixed cost of $300 per month and variable cost of $200 per month. The m
irina [24]

Answer:

Increase the production to decrease the fixed cost per unit

Explanation:

The reason is that if the production increases then the fixed cost will start decrease because the level of production and fixed cost per unit are inversely proportional to each other. Now if the production increases to 1250 ($500/0.4) units then the firm is at no profit and no loss position (Breakeven position). So all the firm has to do is increase its production above 1250 and generate the demand of increased production at the same price.

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3 years ago
On July 31, 2022, Cullumber Company had a cash balance per books of $6,360.00. The statement from Dakota State Bank on that date
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Answer:

Please see explanation below

Explanation:

Cullumber Company

Bank reconciliation statement

Cash balance per bank statement $7,910.80

Add: Deposits in transit $1,316.30

$9,227.1

Less outstanding checks ($1,975.10)

Adjusted cash balance per bank $7,252

Cash balance per books $6,360

Add Electronics funds transfer received $1,635

Totalled $7,995

Less:

Bank service charge $17

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Error in recording check no. 2480

($384 - $348) $36

Total balance to be deducted ($743)

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2 years ago
2) Green Frog is an environmentally friendly firm in the cosmetics industry. If during the strategic planning process Green Frog
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External analysis is the analysis performed by the organisations to understand their business environment in which they carry out the business activities. This analysis helps to identify the threats and opportunities that the business have in the market.

The threats can be competition, new entrants, factors affecting their demand, any government regulation for cosmetics etc. Opportunities can be to expand business, invest in new business etc. By understanding the external environment the business will be able to be well prepared to face them.

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3 years ago
A firm maximizes its profitability when it: creates products similar to the products of its competitors. strips all the value ou
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A firm maximizes its profitability when it<u> "configures its internal operations to support the position selected by it on the efficiency frontier".</u>


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