A retail dealer purchases a washing machine listed in the manufacturer's catalog at P18,500.00 less 30%...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
A retail dealer purchases a washing machine listed in the manufacturer's catalog at P18,500.00 less 30% discount. Find the invoice price and the amount of trade discount for the washing machine. 2. An electric range listed in AMP Company's catalog at P23,000.00 is billed to the retailer at P20,100.00. Determine the: a. amount of trade discount b. trade discount rate II. Trade Discount Series (5 pts each) 1. A manufacturer's list price of an 8 cubic feet refrigerator is P18,575.00 subject to 10%, 5% and 2% discounts. Determine the: a. net price b. amount of trade discount 2. An office equipment was priced at P25,000.00 subject to 10% trade discount. a. What additional trade discount rate would bring down the price to P21,375.00? b. What is the single equivalent rate of the two trade discounts? c. How much is the total trade discount? II. Cash Discounts (5 pts each) 1. State the payment due dates of the following invoices: Invoice Date a. February 7 b. September 12 c. October 18. d. April 29 e. May 3 Payment Term 10 e.o.m. 30 days 10' * e.o.m., "60 10 + 30x Due Date (same year) 3 2. An invoice of goods amounting to P30,750 was dated December 15. If the terms were 10 '30 what amount would be required to pay for the goods on January 10 of the following year? A retail dealer purchases a washing machine listed in the manufacturer's catalog at P18,500.00 less 30% discount. Find the invoice price and the amount of trade discount for the washing machine. 2. An electric range listed in AMP Company's catalog at P23,000.00 is billed to the retailer at P20,100.00. Determine the: a. amount of trade discount b. trade discount rate II. Trade Discount Series (5 pts each) 1. A manufacturer's list price of an 8 cubic feet refrigerator is P18,575.00 subject to 10%, 5% and 2% discounts. Determine the: a. net price b. amount of trade discount 2. An office equipment was priced at P25,000.00 subject to 10% trade discount. a. What additional trade discount rate would bring down the price to P21,375.00? b. What is the single equivalent rate of the two trade discounts? c. How much is the total trade discount? II. Cash Discounts (5 pts each) 1. State the payment due dates of the following invoices: Invoice Date a. February 7 b. September 12 c. October 18. d. April 29 e. May 3 Payment Term 10 e.o.m. 30 days 10' * e.o.m., "60 10 + 30x Due Date (same year) 3 2. An invoice of goods amounting to P30,750 was dated December 15. If the terms were 10 '30 what amount would be required to pay for the goods on January 10 of the following year?
Expert Answer:
Answer rating: 100% (QA)
Ill help you solve these problems step by step Problem 1 Washing Machine Trade Discount Given List Price P1850000 Discount Rate 30 a Invoice Price Lis... View the full answer
Related Book For
College Physics
ISBN: 978-0495113690
7th Edition
Authors: Raymond A. Serway, Jerry S. Faughn, Chris Vuille, Charles A. Bennett
Posted Date:
Students also viewed these accounting questions
-
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
-
The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...
-
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-5. Ivan's grandfather died and left a portfolio of municipal bonds. In 2012, they pay Ivan...
-
Solve the system of equations by substitution. Sx+ y=0 2x + 3y = -7 x = 6, y = -6; (6, -6) x = 7, y = -7; (7, -7) x = -6, y = 6; (-6, 6) x= -7, y = 7; (-7, 7)
-
Assume the same information as in E14.4, except that the bonds were issued at 84.95 to yield 12%. Instructions Prepare the journal entries to record the following. (Round to the nearest euro.) a. The...
-
Based on your understanding of VMHs Mission Statement, identify which of the four competitive priorities discussed in Chapter 2, which you think VMH should emphasize. Remember that the competitive...
-
How can you obtain the money you need to start investing?
-
Watts Company makes various electronic products. The company is divided into a number of autonomous divisions that can either sell to internal units or sell externally. All divisions are located in...
-
The following materials standards have been established for aparticular product: (15)Standard quantity per unit of output5.3metersStandard price$17.20per meterThe followin 2 answers
-
Antonio is a scientist who has patented a new process for making Covid-19 anti-viral drugs. On 1 January 2023, Antonio registered a company with ASIC called AV-Covid 19 Pty Ltd. Antonio is the sole...
-
The Pallon Company manufactures a variety of handerated bed frames. The company's manufacturing activitiesor the current Sear follow:Manufacturing Activity Estimated Cost Cost Driver Used as...
-
Describe four key advantages of Virtualization. Explain why type 1 hypervisor should be used in a server environment, such as data center.
-
Tad drops his bowling ball out the car window 1.0 m above the ground while traveling down the road at 18 m/s. How far, horizontally, from the initial dropping point will the ball hit the ground? If...
-
Clopack Company manufactures one product that goes through one processing department called Mixing. All raw materials are introduced at the start of work in the Mixing Department. The company uses...
-
Suppose that an airplane flying 60 m/s, at a height of 300m, dropped a sack of flour. How far from the point of release would the sack have traveled when it struck the ground? In many locations, old...
-
es The following selected transactions relate to liabilities of United Insulation Corporation. United's fiscal year ends on December 31. 2024 January 13 Negotiated a revolving credit agreement with...
-
Longminusterm liabilities may include all except __________. Question content area bottom Part 1 A. Bonds Payable B. Accounts Payable C. Mortgages Payable D. Notes Payable
-
1. True or False. Pitfalls to consider in a statistical test include nonrandom samples, small sample size, and lack of causal links. 2. Because 25 percent of the students in my morning statistics...
-
Four point charges are situated at the corners of a square with sides of length a, as in Figure. Find the expression for the resultant force on the positive chargeq. +9
-
An inductor (L = 400 mH), a capacitor (C = 4.43 F), and a resistor (R = 500 ) are connected in series. A 50.0-Hz AC generator connected in series to these elements produces a maximum current of 250...
-
A certain childs near point is 10.0 cm; her far point (with eyes relaxed) is 125 cm. Each eye lens is 2.00 cm from the retina. (a) Between what limits, measured in diopters, does the power of this...
-
Show that the decomposition (10.37) of the nonlinear term is correct. Use direct substitution of (10.36) into the expression for one component of vector \(N\).
-
For the flow in Problem 7, write the boundary conditions for pressure when the flow is incompressible and inviscid and there is no body force.
-
If your course involves exercises with a CFD code, study the manual to determine which of the projection schemes discussed in Section 10.4 (SIMPLE, SIMPLEC, SIMPLER, PISO) are implemented. Are there...
Study smarter with the SolutionInn App