Question 1 Amit's Electronic Warehouse and Buddy's Wholesalers are selling the same printer for the same...
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Question 1 Amit's Electronic Warehouse and Buddy's Wholesalers are selling the same printer for the same price. Amit's offers discounts of 20% and 12%. Buddy's offers discounts of 25% and 7%. Where should you buy the printer if you want the best deal? O a. It doesn't matter where you buy it, because both discounts are the same. O b. Not enough information to answer the question O c. Amit's Electronic Warehouse O d. Buddy's Wholesalers Question 2 An invoice for $8,331.44, dated February 15, 2021, with terms 3/10, n/30 was received. The retailer decides to send a cheque on February 23 for $3,775. What is the amount credited? Question 3 An invoice for $4,837 is dated June 23, 2021 with terms 4/10, 2/20, n/60 ROG. The goods are received by the purchaser on July 5, 2021. What is the amount paid if paid in full on July 24, 2021? Question 4 Walshop offers a humidifier for $111.98 with discounts of 8% and 6%. Canuck Tire is selling the same humidifier for $118.64. What discount rate should Canuck Tire offer to match the price of Walshop? Do not include the percent symbol and round your answer to 1 decimal place. Question 5 Determine the net price if an oven has a list price of $1,800 and the distributor is offering discounts of 12%, 8% and 6%. Question 6 An invoice dated November 25, 2021 for $1,277 had the terms 4/15, 1.5/30, n/45 EOM. What amount must be paid on December 12, 2021 to pay the total invoice? Question 7 An electronics store paid $4,494.53 for a supply of goods from an electronics wholesaler. The wholesaler offered a discount of 16%. What was the original list price of the goods? Question 8 An invoice dated November 25 for $2600 had the terms 3/15, 1.5/30, n/45 E.O.M. What is the last day for taking the 1.5% discount? a. December 30 O b. December 10 O c. December 25 O d. December 15 Question 9 Lions Furniture received an invoice in the amount of $6,951 dated September 16, 2021 with terms 5/10, 2/20, n/60. If the invoice is to be paid in full on September 27, how much will the payment be? Question 10 An item that had a list price of $2,695 was subject to trade discounts of 17%, 11% and 9%. What is the single equivalent discount rate (SEDR) that is equal to the discount series? Do not include the percent symbol and round your answer to 2 decimal places. Question 1 Amit's Electronic Warehouse and Buddy's Wholesalers are selling the same printer for the same price. Amit's offers discounts of 20% and 12%. Buddy's offers discounts of 25% and 7%. Where should you buy the printer if you want the best deal? O a. It doesn't matter where you buy it, because both discounts are the same. O b. Not enough information to answer the question O c. Amit's Electronic Warehouse O d. Buddy's Wholesalers Question 2 An invoice for $8,331.44, dated February 15, 2021, with terms 3/10, n/30 was received. The retailer decides to send a cheque on February 23 for $3,775. What is the amount credited? Question 3 An invoice for $4,837 is dated June 23, 2021 with terms 4/10, 2/20, n/60 ROG. The goods are received by the purchaser on July 5, 2021. What is the amount paid if paid in full on July 24, 2021? Question 4 Walshop offers a humidifier for $111.98 with discounts of 8% and 6%. Canuck Tire is selling the same humidifier for $118.64. What discount rate should Canuck Tire offer to match the price of Walshop? Do not include the percent symbol and round your answer to 1 decimal place. Question 5 Determine the net price if an oven has a list price of $1,800 and the distributor is offering discounts of 12%, 8% and 6%. Question 6 An invoice dated November 25, 2021 for $1,277 had the terms 4/15, 1.5/30, n/45 EOM. What amount must be paid on December 12, 2021 to pay the total invoice? Question 7 An electronics store paid $4,494.53 for a supply of goods from an electronics wholesaler. The wholesaler offered a discount of 16%. What was the original list price of the goods? Question 8 An invoice dated November 25 for $2600 had the terms 3/15, 1.5/30, n/45 E.O.M. What is the last day for taking the 1.5% discount? a. December 30 O b. December 10 O c. December 25 O d. December 15 Question 9 Lions Furniture received an invoice in the amount of $6,951 dated September 16, 2021 with terms 5/10, 2/20, n/60. If the invoice is to be paid in full on September 27, how much will the payment be? Question 10 An item that had a list price of $2,695 was subject to trade discounts of 17%, 11% and 9%. What is the single equivalent discount rate (SEDR) that is equal to the discount series? Do not include the percent symbol and round your answer to 2 decimal places.
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Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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