Consumers currently make 33 percent of in-store payments with cash, 14 percent by check, 19 percent...

Consumers currently make 33 percent of in-store payments with cash, 14 percent by check, 19 percent with a credit card, and 23 percent with a debit card. If a store has $589,200 of sales, what was the amount paid using each method? prepare a pie chart to illustrate the percentage breakdown of payment methods.

Solutions

Expert Solution

Total Sales = $589,200

Percentage payment made through Cash = 33%

Amount Paid through Cash = Percentage payment made through Cash * Total Sales = 33% * $589,200 = $194,436

Percentage payment made through Check = 14%

Amount Paid through Check = Percentage payment made through Check * Total Sales = 14% * $589,200 = $82,488

Percentage payment made through Credit Card = 19%

Amount Paid through Credit Card = Percentage payment made through Credit Card * Total Sales = 19% * $589,200 = $111,948

Percentage payment made through Debit Card = 23%

Amount Paid through Debit Card = Percentage payment made through Debit Card * Total Sales = 23% * $589,200 = $135,516

Remaining Percentage payment made though other modes(Not Specified) = 100% - Percentage payment made through Cash - Percentage payment made through Check - Percentage payment made through Credit Card - Percentage payment made through Debit Card = 100% - 33% - 14% - 19% - 23% = 100% - 89% = 11%

Pie Chart :

jeff jeffy answered 3 weeks ago

Next > < Previous

Related Solutions

Consider a 3-year bond with 14 percent semi-annual coupon payments and currently priced to yield 12...

Consider a 3-year bond with 14 percent semi-annual coupon payments and currently priced to yield 12 per cent per annum. Calculate duration of the bond. What is the percentage of price change if interest rate increases to 12.15% per annum?

Consider a 3-year bond with 14 percent semi-annual coupon payments and currently priced to yield 12...

You find a certain stock that had returns of 14 percent, -27 percent, 19 percent, and...

You find a certain stock that had returns of 14 percent, -27 percent, 19 percent, and 21 percent for four of the last five years, respectively. What is the average return of the stock over this period? What is the standard deviation of the stock's returns?

There is a bond for 3 years that has a 14 percent semi-annual coupon payments and...

There is a bond for 3 years that has a 14 percent semi-annual coupon payments and current price to yield 12% p.a. What is bond duration Calculate percentage of price change when interest rate increases to 12.15% p.a.?

Consumers appear to require returns of 25 percent or more before they are prepared to make...

Consumers appear to require returns of 25 percent or more before they are prepared to make energy-efficient investments, even though a more reasonable estimate of the cost of capital might be around 15 percent. Here is a highly simplified problem which illustrates that such behavior could be rational.20 Suppose you have the opportunity to invest $1,000 in new space-heating equipment that would generate fuel savings of $250 a year forever given current fuel prices. What is the PV of this...

Ryan Company deposits all cash receipts on the day they are received and makes all cash payments by check.

Ryan Company deposits all cash receipts on the day they are received and makes all cash payments by check. Ryan's June bank statement shows $29,861 on deposit in the bank. Ryan's comparison of the bank statement to its cash account revealed the following: Deposit in transit 3,750 Outstanding checks 1,458 Additionally, a $56 check correctly written and recorded by the company was recorded by the bank as a $65 deduction. The adjusted cash balance per the bank records should be:...

Exercise 14-11 Preparing a schedule of cash payments for selling and administrative expenses LO 14-4 The...

Exercise 14-11 Preparing a schedule of cash payments for selling and administrative expenses LO 14-4 The budget director for Munoz Cleaning Services prepared the following list of expected selling and administrative expenses. All expenses requiring cash payments are paid for in the month incurred except salary expense and insurance. Salary is paid in the month following the month in which it is incurred. The insurance premium for six months is paid on October 1. October is the first month of...

Identify precautions for accepting the types of payments: cash, check, credit card, and debit card.

The Bike and Hike Outlet is a retail store. Transactions involving purchases and cash payments for...

The Bike and Hike Outlet is a retail store. Transactions involving purchases and cash payments for the firm during June 2019 are listed below, as are the general ledger accounts used to record these transactions. GENERAL LEDGER ACCOUNTS 101 Cash $ 21,900 Dr. 131 Equipment 66,000 Dr. 201 Notes Payable 205 Accounts Payable 4,980 Cr. 501 Purchases 503 Purchases Ret. and Allow. 504 Purchases Discounts 611 Rent Expense 614 Salaries Expense 617 Telephone Expense DATE TRANSACTIONS June 1 Issued Check...

Regarding a 3-year bond with 14 percent semi-annual coupon payments and with a current price to...

Regarding a 3-year bond with 14 percent semi-annual coupon payments and with a current price to yield 12 per cent per annum. Calculate duration of the bond. What is the percentage of price change if interest rate increases to 12.15% per annum? Please show working out.

Subjects