October 9, 2015

Homework Help: accounting

Posted by annonymous on Tuesday, August 29, 2006 at 1:09am.

Computing in the Business World

Suppose you are opening a 1,000 square foot baseball card store in a shopping center. You have signed a lease that requires you to pay a monthly rent of $1.75 per square foot, plus 5% of your gross annual sales. What is the total amount of rent you will pay in one year if you have sales of $85,000?

First calculate your rent.

Then calculate the tax on your sales (5% of your sales).

Then add these two figures together.

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