Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please help The Red Noodle, a local Thai rostnumant, expects sales to be $005,000 in danuary, tis mernge customer resteurant bil is $55. Only 40%

Please help
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
The Red Noodle, a local Thai rostnumant, expects sales to be $005,000 in danuary, tis mernge customer resteurant bil is $55. Only 40% of the restaurant bills are paid with cash; 30% are paid with credt cards and 30% whal dobit cards. The transation foes chargod by the credit and debit card issieers are as follows: Crodit cards: 50.45 per tansoction +2% of the amount charged Debit cards: 50.35 per traranction +1% of the amount charped Requlrement 1. How much af the tatal salns revenue is expected to be paid in cash? The total sales revenive expected to be paid in cash is Requirement 2. How many customer transactons does the company expect in January? In January, the number of transactions the cornpany expects is Requirement 3. How much of the total sales revonue is axpected to be paid wath credit cards? The total sales revenue expected to be poid with credd cards is Requlrement 4, How many customer transactions wil be paid for by customers using credit cards? The number of custemer transactions paid far using crodik cards is Requirement 5. When budgeting for danuarys operating exponses. how much should tye restaurant expoct 10 incur in credit card transaction foes? In January, the costaurand shoud expect to incur transactios fees of Requirement 6. How much of the total sales revenies is oxpected to be Daud wh debt cards? Requirement 7. How many ouslomet trishaotons will be paid for by customers ucing denbet cagds? Requirement 8. When budgeting for danuary's operating expenses, how much should the rostaurant expect to incur in deot card transaction fees? In January, the restaurant shovid expect to incur debit cord transoction fees of Requirement 9 . How much maney will be deposibod in the restaurants bank account during the month of January related to oreot and debel card sales? Rbsume the creoit and debit card issuers deposit the funds on the same day the transactions cocur at the restaurant (there is no processing delay) The amount that wil be deposhed in the restauranis bank account during the morth of January rolated to credit and debit card sales is Requirement 10. What is the total amount of money than the restaurant expocts to deposit in is bank account during the month of January from casth eredit card, and debit card sates? Again ascume the crodit and debe card issuers deposit the funds on the same day that the transaction occurs. The amount that will be deposiled in the restourants bank ocoount diring the month of January trom cash, credit card, and and debt card sules is Thai restaurant, expects sales to be $605,000 in January. Its average customer restaurant bill is $55. ith debit cards. The transaction fees charged by the credit and debit card issuers are as follows: $0.45 per transaction +2% of the amount charged Requirements 1. How much of the total sales revenue is expected to be paid in cash? 2. How many customer transactions does the company expect in January? 3. How much of the total sales revenue is expected to be paid with credit cards? 4. How many customer transactions will be paid for by customers using credit cards? 5. When budgeting for January's operating expenses, how much should the restaurant expect to incur in credit card transaction fees? 6. How much of the total sales revenue is expected to be paid with debit cards? 7. How many customer transactions will be paid for by customers using debit cards? 8. When budgeting for January's operating expenses, how much should the restaurant expect to incur in debit card transaction fees? 9. How much money will be deposited in the restaurant's bank account during the month of January related to credit and debit card sales? Assume the credit and debit card issuers deposit the funds on the same day the transactions occur at the restaurant (there is no processing delay). 10. What is the total amount of money that the restaurant expects to deposit in its bank account during the month of January from cash, credit card, and debit card sales? Again assume the credit and debit card issuers deposit the funds on the same day that the transaction occurs

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

SAP Audit Black Book

Authors: Bhushan Jairamdas Mamtani

1st Edition

9351194086, 978-9351194088

More Books

Students also viewed these Accounting questions

Question

Describe three other types of visual aids.

Answered: 1 week ago