Mark Smith bought merchandise with a list price of $4,300. Mark was entitled to a 31% trade

Question:

Mark Smith bought merchandise with a list price of $4,300. Mark was entitled to a 31% trade discount as well as a 5% cash discount. What was Mark's actual cost of buying this merchandise after the cash discount?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

College Accounting A Practical Approach Chapters 1-25

ISBN: 9780133791006

13th Edition

Authors: Jeffrey Slater

See More Books

Question Posted: Apr 14, 2017 12:29 PM

See More Questions

Lucy Adams bought merchandise with a list price of $3,600. Lucy was entitled to a 25% trade discount as well as a 3% cash discount. What was Lucys actual cost of buying this merchandise after the...
Mike Dolan bought merchandise with a list price of $3,000. Angie was entitled to a 30% trade discount as well as a 4% cash discount. What was Mikes actual cost of buying this merchandise after the...
Angie Rase bought merchandise with a list price of $4,000. Angie was entitled to a 30% trade discount as well as a 3% cash discount. What was Angies actual cost of buying this merchandise after the...
The top 5 stocks in the S&P 500 index, when ranked by market capitalization, make up 22% of the total market capitalization of the S&P 500 index. Numerical estimates of the mean (or expected) rates...
1. Two concentric spherical shell conductors carry equal and opposite charges. The inner shell has radius a and charge +q; the outer shell has radius b and charge q. Find the potential difference...
The Wallace Stationary Company purchases paper from the Seaboard Paper Company. Wallace produces stationary that require 1,415,000 sq. yards of stationary per year. The cost per order for the company...
Calculate the solution to the following mean-reverting rnsteinUhlenbeck SDE: \[d X_{t}=\mu X_{t} d t+\sigma d B_{t}\] with $X_{0}=x$.
The Easy Drive Car Rental Agency needs 500 new cars in its Nashville operation and 300 new cars in Jacksonville, and it currently has 400 new cars in both Atlanta and Birmingham. It costs $30 to move...
Bleakhouse Bakers produces breads and pastries. Bleakhouse is considering introducing a new breakfast item. They estimate materials costs at $4.00 per dozen and overhead costs of $2.02 per dozen....
Developed by Coca-Cola Asia Pacific, Coca-Cola Fiber+ (or just Coke Plus) is expanding through Hong Kong, Japan, Mainland China, Mongolia, and Taiwan. Coke Plus is a zero calorie soda (essentially...
Record the following transaction in a transaction analysis chart for the buyer: Bought merchandise for $9,400 on account. Shipping terms were F.O.B. destination. The cost of shipping was $470. Assume...
Journalize the following transactions. Assume a perpetual inventory system. 201X Apr. 8 Purchased merchandise on account from Bachand Supplies, $19,000; terms 3/10, n/30. 15 Sold merchandise on...
Show that there exists a stochastic process $\left(X_{t}ight)_{t \geqslant 0}$ such that the random variables $X_{t}$ are independent $\mathrm{N}(0, t)$ random variables. This process also...
The mean defined in the text is sometimes called the arithmetic mean to distinguish it from other possible means. For example, a different mean, called the geometric mean (G.M.), is used in business...
Read the man page or other documentation for the Unix/Windows utility netstat. Use netstat to display the current IP routing table on your host. Explain the purpose of each entry. What is the...
Suppose two learning bridges B1 and B2 form a loop as shown in Figure 3.50 and do not implement the spanning tree algorithm. Each bridge maintains a single table of address, interface pairs. (a) What...
What properties of postal addresses would be likely to be shared by a network addressing scheme? What differences might you expect to find? What properties of telephone numbering might be shared by a...
One of the purposes of TIME_WAIT is to handle the case of a data packet from a first incarnation of a connection arriving very late and being accepted as data for the second incarnation. (a) Explain...
Playgrounds, Inc., is granted a distribution franchise by Shady Products in Year 1. Operations are profitable until Year 4 when some of the company?s inventories are confiscated and large legal...
Cornell and Roberts are partners who agree to admit Stanley to their partnership. Cornell has a capital balance of $80,000 and Roberts has a capital balance of $120,000. Cornell and Roberts share net...
Race Corporation has 380,000 shares of $9 par value common stock issued and outstanding. Record the following entries into the general journal for Race: 201X July 2 Declared a cash dividend of $0.50...
At the beginning of January 201X, the stockholders equity of Mountain View Corporation consisted of the following: Paid-In Capital: Common Stock, $40 par value, authorized 80,000 shares, 30,000...
At the beginning of January 201X, the stockholders equity of Mountain View Corporation consisted of the following: Paid-In Capital: Common Stock, $40 par value, authorized 80,000 shares, 30,000...
sked byChina699 BEMIDJI STATE UNIVERSITY Department of Technology, Art & Design TADT 3217 : Materials Science & Metallurgy Hardness Testing [A continued look at the Heat Treatment of Steel] ...
1. Advocate Aurora Sheboygan Memorial Hospital health care product or service to be marketed in your community. 2. Conduct appropriate market research in your community to determine the demographics...
How do ethical leaders integrate ethical considerations into strategic decision-making processes, balancing short-term business objectives with long-term ethical imperatives to ensure sustainable...

Mark Smith bought merchandise with a list price of $4,300. Mark was entitled to a 31% trade

Question:

Step by Step Answer:

List price 4300 Tra...View the full answer

College Accounting A Practical Approach Chapters 1-25

Students also viewed these Cost Accounting questions