Formula Needed, Accounting Basics

Assignment Help:
Hello, I work in the Events Department for a country club in Rhode Island. We are trying to figure out the following question for an invoice:

A restaurant bill is $18.50 and includes gratuity and tax.
In our restaurant, gratuity is added to the bill, and that sum is then taxed.

If the bill is $18.50, what amount is the gratuity and what amount is the tax?


Related Discussions:- Formula Needed

State the term- liabilities, State the term- Liabilities Current Liabi...

State the term- Liabilities Current Liability is a debt which is due for payment within one year. Long-term liability is one NOT paid in a year. OWNER'S EQUITY Also

Provision for depreciation, Why is a provision for depreciation made in the...

Why is a provision for depreciation made in the financial statements? A to charge the cost of non-current assets against profits B to make a provision for repairs C to mak

FIFO LIFO AVERAGE COST, I am trying to figure out FIFO LIFO and AVERAGE COS...

I am trying to figure out FIFO LIFO and AVERAGE COST of the ending inventory and the cost of goods sold.

Sam is trying to decide whether he should operate, Sam is trying to decide ...

Sam is trying to decide whether he should operate his business as a C cor- poration or as an S corporation. Due to potential environmental hazard problems, it is imperative that

Determine the estimated direct labor, 1. Shaving 5% of the estimated direct...

1. Shaving 5% of the estimated direct labor hours in the predetermined overhead rate will result a high overhead rate, which would likely result a high credit balance of overapplie

What is owner equity, What is OWNER'S EQUITY Difference between Liabili...

What is OWNER'S EQUITY Difference between Liabilities and Assets is Owner's Equity. The can also be known as capital, proprietorship, or net worth.

Adjusting Entries, The company borrowed 30 000on September 1, 2011. The pri...

The company borrowed 30 000on September 1, 2011. The principal is due to be repaid in 10 years. Interest is payable twice a year on each August 31 and February 28 at an annual rate

Calculate the wacc, The capital structure of Wild West Inc. is as follows: ...

The capital structure of Wild West Inc. is as follows: -            Debts: $5,000,000 (face value) bonds with coupon rate at 8.00% and current price at par -

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd