Back Out the Sales Tax or Gratuity from the Following

question 73

Short Answer

Back out the sales tax or gratuity from the following problems. Show the sales tax owed or the amount of money that the business or waitperson will receive. Round answers to the nearest cent. For a banquet, each guest pays $41.00, inclusive. A gratuity of 15% is included in the cost. Amount of money for the restaurant: $_______________

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Definitions:

Co-Payments

Fixed amounts that an insured person is required to pay at the time of receiving medical service, with the balance covered by their health insurance.

Third-Party Liability Insurance

Insurance coverage meant to protect against claims made by a third party for damages or injuries that the policyholder is responsible for.

Tort Liability

The legal responsibility that arises from the commission of a tort, which is an act or omission that gives rise to injury or harm to another and amounts to a civil wrong for which courts impose liability.

Appraisal Clause

A part of an insurance contract that calls for an assessment when parties disagree about the value and loss of a specific item.