Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The Thal Garden, a local Thai restaurant, expects sales to be $760,000 in January its average customer restaurant biil is $65 Only 40% of the

image text in transcribed
image text in transcribed
image text in transcribed
The Thal Garden, a local Thai restaurant, expects sales to be $760,000 in January its average customer restaurant biil is $65 Only 40% of the restaurant bills are paid with cant, 30% are paid with credit cards and 30% with debit cards. The transaction fees charged by the credit and delit card issuers are as follows Credit cards 5025 per transaction +3% of the amount charged Dobit cards: $0.45 per transaction +2% of the amount charged Road the Requirement 1. Hew much of the total sales revenue is expected to be paid in cash? The fotal sales revenue expocted to be paid in cash is Requirement 2. How many customer transactions does the company expect in January? In January, the number of transactions the company expects is Requirernent 3. How much of the total sales revenue is expected to be paid with credit cards? The total sales revenue copected to be paid wth credit cards in Requirement 4. How many customer transactions wal be paid for by customers using ciedit cardv? Requirement 4. How many customer transactions will be paid for by customass using credit cards? The number of customer transactions paid for using credit cards is Requirement 5. When budgeting for January's operating expenses, how much should the restaurant axpect to incur in credit card transaction fees? In January, the restaurant should expect to incur transaction fees of Requirement 6. How much of the total sales revenue is expected to be pald with debit carda? The total sales reverue expected to be paid with debit cards is Requirement 7.How many customer transactions will be paid for by customers using debit cards? The number of customer transactions paid for by customers using debit cards is Requirement 8. When budgeting for January's operating oxpenses, how much should the restaurant expect to incur in debit card transaction fees? In January, the restaurant should expect to incur debit card transaction fees of Requirement 9. How much money will be deposited in the restaurants 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) The amount that will be deposiled in the restaurants bank account during the month of January related to credi and debir card siales is Requirement 10. What is tho total amount of money that the restaurant expects to deposit in its bank account during the month of January trom cush, cedt card, und debt card sales? Again assume the credit and debit card issuers depost the funds on the same day that the transaction occurs. The amount that will be deposited in the restauran's bank account during the menth of January from cash, credit card, and and dehit rand sales is

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

Students also viewed these Accounting questions

Question

Define nonresponsive bias.

Answered: 1 week ago

Question

What has been your desire for leadership in CVS Health?

Answered: 1 week ago