Two truck rental companies have different rates. V-Haul has a base charge of $80.00, plus $0.75 per mile. W-Haul has a base charge of $57.65, plus $0.90 per mile. For how many miles would these two companies charge the same amount? Those two companies would charge the same amount of money, if a driver drives miles. (Enter a numeric response, without units)
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- Use a formula to solve the problem. See Example 1. The factory invoice for a minivan shows that the dealer paid $16,183.78 for the vehicle. If the sticker price of the van is $18,341, how much over factory invoice is the sticker price?Which one of the following statements is false? Group of answer choices A.Bill drives 20 each way between his home to his office – 40 miles round trip each day. During the day he drives to a client site. He drives a total of 63 miles that day. He may deduct the cost of 43 miles. B.Commuting expenses may be deductible if you are transporting tools. C.A consultant works out of her home. She may deduct the cost of driving to a client’s place of business. D.The expenses of driving between your regular job and a second job are deductible.Mike purchases a bicycle costing $152.70. State taxes are 4% and local sales taxes are 2%. The store charges $20 for assembly. What is the total purchase price (in $)? (Round your answer to the nearest cent.)_____
- Firms usually offer their customers some form of trade credit. This allowance comes with certain terms of credit, which affect the cost of asset of sale for the buyer as well as the seller. Consider this case: Tasty Tuna Corporation buys on terms of 1/20, net 60 from its chief supplier. If Tasty Tuna receives an invoice for $1,254.98, what would be the true price of this invoice? (Note: Round all intermediate calculations to four decimal places, and your final answer to two decimal places.) $1,553.04 $1,242.43 $1,056.07 O $931.82 The nominal annual cost of the trade credit extended by the supplier is calculations to four decimal places, and your final answer to two decimal places.) , assuming a 365-day year. (Note: Round all intermediate Suppose Tasty Tuna does not take advantage of the discount and then chooses to pay its supplier late-so that on average, Tasty Tuna will pay its supplier on the 65th day after the sale. As a result, Tasty Tuna can decrease its nominal cost of trade…Maple Woodworking accepts creditcards at its store. Maple’s credit card processor charges a fee of 2% of the total amount of anycredit sale. Assume that Ralph Stone purchases $9,000 of custom furniture and pays with aVISA card. Make the entry that Maple would make to record the sale to Stone. (You do notneed to make the cost of goods sold entry in this exercise.)Yaster Shipping, a competing package delivery service, charges a base price for overnight delivery of packages weighing 2 pounds or less and a surcharge for each additional pound (or fraction thereof). You are billed $31.67 for shipping a 6.7 pound package and $78.76 for shipping a 21.7 pound package. What is the surcharge that Yaster Shipping charges for each additional pound (or fraction thereof) beyond 2 pounds?
- Find the total cost of five pop-up hampers at $10.99 each and two nonstick mini doughnut pans at $12.9 each. Use the shipping and insurance delivery chart and a sales tax rate of 5%. There is no sales tax on shipping and insurance The total cost of five pop-up hampers and two nonstick mini doughnut pans is ?Boeing Truck Company received an invoice showing 10 tires at $125 each, 13 tires at $178 each, and 19 tires at $179 each. Shipping terms are FOB shipping point. Freight is $559; trade discount is 10/4; and a cash discount of 4/10, n/30 is offered. Assuming Boeing paid within the discount period, what did Boeing pay? Note: Round all intermediate calculations to two decimal places (the nearest penny) and enter your final answer rounded to two decimal places. Payable amountFirms usually offer their customers some form of trade credit. This allowance comes with certain terms of credit, which affect the cost of asset of sale for the buyer as well as the seller. Consider this case: Free Spirit Industries Inc. buys on terms of 1/20, net 45 from its chief supplier. If Free Spirit receives an invoice for $1,254.98, what would be the true price of this invoice? (Note: Round all intermediate calculations to four decimal places, and your final answer to two decimal places.) O $1,304.55 $1,056.07 $1,242.43 O $1,118.19 The nominal annual cost of the trade credit extended by the supplier is , assuming a 365-day year. (Note: Round all intermediate calculations to four decimal places, and your final answer to two decimal places.) Suppose Free Spirit does not take advantage of the discount and then chooses to pay its supplier late-so that on average, Free Spirit will pay its by paying late. (Note: supplier on the 50th day after the sale. As a result, Free Spirit can…
- Strom Inc. provided interior design services for $170,000 to customers using debit cards. Assume the bank charges 0.5% for all debit card transactions. Which of the following is correct? Multiple Choice Strom Inc. would have Debit Card expenses in the amount of $850 and Service Revenue of $169,150 Strom Inc. would have Debit Card expenses in the amount of $850 and Service Revenue of $170,000 Strom Inc. would have an increase in Cash of $169,150 and Service Revenue of $169,150 Strom Inc. would have an increase in Cash of $170,000 and Service Revenue of $169,150 None of the choices are correct5 6 7 Beginning cash balance 8 Collections: 9 10 Cash collected from customers Total cash available 11 12 Less Disbursements: 13 14 15 16 17 18 19 20 21 22 23 24 Financing: 25 Borrowing 26 Amount to Borrow to pay interest on loan 27 Total Borrowings 28 35 Repayment of principal (outflows) 36 37 Interests (outflows) 38 Net Financing (interest and principal) 39 Plus: Minimum cash balance 40 41 Ending Cash Balance 42 43 Short-Term Borrowing Balance 44 Information 45 Minimum Cash Balance 46 Borrowings and Repayment of Principal in Multiples of 47 Interest Rate Monthly Rate 48 49 En Cash paid out for inventory purchases. Cash paid for S & A expenses Cash paid for equipment purchases Cash paid for dividends Total disbursements Minimum cash balance Total Cash Needs Y Excess (deficiency) of cash available over needs ? ? ? ? ? ? October $42,000 150,500 $192,500 151,758 84,600 10,000 0 $246,358 10,000 $256,358 ($63,858) $64,000 0 $64,000 $10,000 1,000 12% 0.01Backyard World buys plastic pools from a supplier with an invoice amount of $13,500. The terms of the sale are 5/10, n/30. If the retailer sends a partial payment of $8,300 on the discount date, what is the net amount still due?