Finances
What is an expense?
Cost for something; the money spent on something
iPhone: $1000 - calculate the total amount with taxes included (hint: $1000 x 0.0635 then add to original price)
$1,063.50
Candy: $1
$0.06
What is a gross income?
The amount an employee earns before taxes
True or False. The electricity bill most households pay for is an expense
True
Jeans: $128 - calculate the total amount with taxes included
$136.13
Lululemon leggings: $98
$6.22
What is an income?
The amount of money earned from work or received from investments
What is the name of the card that lets you borrow money to pay later?
Credit card
Soccer ball: $39.99 - Calculate the total amount with taxes included
$42.53
nintendo switch: $399.99 - only calculate how much in taxes you have to pay on top
$25.40
True or False. Servers at restaurants receiving tips is a form of income.
true
What is the name of the money you earn from doing a job?
Income
Calculate each item separately with their taxes included in the total
$24.99
$230
$26.58
$244.61
Shirt: $20
Water bottle: $15
only calculate how much in taxes you have to pay on top for each item separately (not the total)
$1.27
$0.95
What is "The amount remaining after taxes that an employee keeps" called?
Net income
What is the name for money kept in a bank to use later?
Savings
$19.99 + $2.99 + $59.99 + $109 =
calculate the total amount with taxes included
$204.16
$400 + $9.99 + 16.99 =
calculate the total of just the taxes
$27.11
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