Molly receives 1.6% of eBay sales plus $1.65 for each item she lists through her eBay listing service. In June she listed 366 items that sold for a total of $17,905. Whatwere her gross earnings?

Answered: Molly receives 1.6% of eBay sales plus…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Molly receives 1.6% of eBay sales plus $1.65 for each item she lists through her eBay listing service. In June she listed 366 items that sold for a total of $17,905. What
were her gross earnings?

Expert Solution

Step 1

Wages: Wages are the earnings of the employees for their work to the company they serve. These are the expenses to the company.

Gross pay: It is the total amount of wages earned by employees without deducting any taxes or with holdings. This includes both gross pay and net pay.

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