accounting

posted by .

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.

  • accounting -

    6,000

  • Accounting -

    1,000*1.75= $1,759

    0.05*85,000= 4250

    4250+1,750=

    6,000

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. Math

    Suppose you want to use hardwood flooring for most of a 750 square foot apartment. Labor costs are $250 plus a $2 feet per square foot of installation. The cost per square foot of hardwood flooring is $7.00. Write an inequality to …
  2. accounting

    Shopping Center A Square foot: 3,500 Distance: 4 miles Shopping Center B Square foot: 1,500 Distance: 5 miles Shopping Center C Square foot: 300 Distance: 3 miles Use the Huff Gravity model to find the probability that customers will …
  3. business

    Suppose you are opening a 1,000-square-foot baseball card store. Your lease calls for a flat monthly rent of $1.75 per square foot plus 5 percent of your gross annual sales. What is the total rent you will pay in one year if you have …
  4. stats

    Cushman and Wakefield accounting that the average annual rent for office space in Tampa was $17.63 per square foot. A real estate agent selected a random sample of 15 rental properties (offices) and found that mean rent was $18.72 …
  5. Math Problem

    An organization rents a 500 square foot office at a cost of $10 per square foot per year. How much must they pay
  6. Math

    Joe wants to carpet a 12 foot by 18 foot rectangular living room and a square bedroom. One side length of the square bedroom is 12 feet. Carpet costs $3.50 per square foot. What percent of the total amount Joe will pay will be spent …
  7. Math Algebra PLEASE EXPLAIN

    Cell Tell is expanding to a new area of town. The store's budget allows $2,500 per month to rent the needed 600 square foot kiosk. What is the maximum annual rate per square foot that Cell Tell can pay?
  8. Basic Accounting

    Pay $3000 toward lease agreement for office. The agreement is for 1year. The rent is 1,500 per month, last months rent was required at time of lease agreement. Lease period is effective July 1st 2014 through jun 30th 2015. I think …
  9. Basic Accounting

    Pay $3000 toward lease agreement for office. The agreement is for 1year. The rent is 1,500 per month, last months rent was required at time of lease agreement. Lease period is effective July 1st 2014 through jun 30th 2015. I think …
  10. Math

    A toolshed with a square base and a flat roof is to have a volume of 800 cubic feet. If the floor costs $6 per square foot, the roof $2 per square foot, and the sides $5 per square foot, determine the dimensions of the least expensive …

More Similar Questions