Question

Apple sold a computer for $1,000 with 5% sales tax. What is the total amount of revenue that Apple will recognize from this sale?

A) $1,000
B) $1,050
C) $950
D) $1,005

Answer 1

The total amount of revenue that Apple will recognize from selling a computer for $1,000 with a 5% sales tax is $1,050. To find this, calculate 5% of $1,000, which is $50, and add it to the original price, resulting in $1,050.

Step-by-step explanation:

Apple sold a computer for $1,000 with a 5% sales tax. To find the total amount of revenue that Apple will recognize from this sale, we need to calculate the sales tax in dollars and then add it to the original price of the computer. The sales tax is calculated by converting the percent to a decimal and multiplying it by the total cost of the item:

$1,000 x 0.05 = $50

Now, we add the sales tax to the original price of the computer:

$1,000 + $50 = $1,050

So, the correct answer is B) $1,050, which is the total amount of revenue that Apple will recognize from this sale.