During June, Martha's Crafts spent $900 to buy 30 handmade vases and sold 5 of them for $80 each. How much should Martha record as an expense for June? Options: A. $120 B. $150 C. $900 D. $450
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During June, Martha's Crafts spent $900 to buy 30 handmade vases and sold 5 of them for $80 each. How much should Martha record as an expense for June? Options: A. $120 B. $150 C. $900 D. $450
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- A gift shop owner purchases items to sell in her store. She purchases a chair for $125 and sells it for $275. Determine the following: a. dollar markup b. markup percentage on cost c. markup percentage on selling priceMrs. Smith is buying a new refrigerator for $1899 at Sears. There is 7.25% sales tax added to her purchase. She plans to charge this to her Sears credit card, which earns 18.9% APR. She wants to pay $225 per month to the credit card. Fill in the first 2 lines of the amortization table. Month Balance Interest Amt. Applied to Principal New Balance 1 $192.92 2 $29.04 $1647.80In the month of September, Billy Jo made the following purchases: $4,000.00 on September 3 $2,750.00 on September 15 $450.00 on September 29. Billy Jo’s credit card contract has a 15% APR and a minimum payment of 2%. What was Billy Jo’s balance at the end of the month? What is the minimum dollar amount Billy Jo must pay?
- 4. Alan Lewis purchased a new computer for his office using the store's installment credit plan. The computer cost $5,991.64. He made a 40% down payment. 4a. What is the down payment? 4b. What is the amount financed? 5. Melvin Annijo purchased new carpet for $1,498.96; laminated flooring for $2,365.45; kitchen cabinets for $7,864.44; and a countertop for $936.12. The Home Supply credit plan requires a 15% down payment. 5a. What is the total amount of the purchases? 5b. What is the down payment? 5c. What is the amount financed? 6. Amanda and Charles Mercer want to remodel their coffee shop. They would like to finance part of the cost but do not want the amount financed to be more than $10,000. The total cost of remodeling the shop is $13,480. 6a. Determine how much they need for a down payment 6b. Will a 25% down payment be enough?Summary Practice Test - 5. Claire Russell is buying a car. Her November monthly interest was $210 at 7 3/4% interest. What is Claire’s principal balance (to the nearest dollar) at the beginning of November? Use 360 days. Do not round the denominator in your calculation.6. A buyer purchased 1500 towels at $10 each and 1500 matching face clothes at $5 each. The buyer decided to sell the towel and face cloth as a set for $29.99. What was the markup on this purchase? dedat 825 cach Own
- Jerry Allison starts the month with a balance on his credit card of $1,050. On the 10th day of the month, he purchases $400 in clothes with his credit card. On the 15th day of the month he makes a payment on his credit card of $450. The bank charges 1.5 percent interest per month using the previous balance method. What would Jerry's finance charges be for the month? Multiple Choice O $18.95 $23.75 $16.95 $13.25 $15.75On May 31, Marty’s Ice Cream Shop sells gift cards for $5,000. Customers redeem $1,200 in June, $2,100 in July, and $1,400 in August. Marty’s experience is that any unredeemed gift cards as of August 31 are not likely to be redeemed. Calculate the amount of gift card revenue each month.Julie's Boutique has total receipts for the month of $30,660 including sales taxes. If the sales tax rate is 5%, what are Julie's sales for the month? Question 29 options: $29,200 $29,127 $32,193 It cannot be determined.