An item was marked up from $24.99 to $49.98 before it was marked down to $24.99 and

Question:

An item was marked up from $24.99 to $49.98 before it was marked down to $24.99 and sold at cost. Determine:
a. The rate of markup on cost.
b. The rate of markdown.

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

Step by Step Answer:

Related Book For book-img-for-question

Business Mathematics In Canada

ISBN: 978-0070009899

7th edition

Authors: Ernest Jerome

See More Books

Question Posted: Jan 20, 2016 06:59 AM

See More Questions

An item was marked up from $58.50 to $95.00, then later marked down by 30% during a Spring Sale. Determine: a. The original rate of markup on selling price. b. The price during the Spring Sale.
An item that cost $37.25 was marked up by 60% of cost. Later, the retail price was reduced to $41.72. If unit overhead expenses were 20% of cost, what was the unit operating profit at the reduced...
An item costing $185 was marked up by 50% of cost and subsequently marked down by $60 during a sale. Determine: a. The regular selling price. b. The rate of markdown.
In five sentences or more answer the following question: Was Japanese Internment necessary to protect Americas national security? Why / why not?
LOrÃ©al reports the following income statement accounts for the year ended December 31, 2008 (euros in millions). Prepare the income statement for this company for the year ended December...
Cardinal Company is considering a five-year project that would require a $2,975,000 investment in equipment with a useful life of five years and no salvage value . The company's discount rate is 14%....
Smart Manufacturing Systems Pty Ltds accountant recently prepared the following data from the companys accounting records for the year ended 30 June 2025. Required (a) Prepare a cost of goods...
1. How long is a written stop-payment order effective? What else could RPM have done to prevent this check from being cashed? 2. What would happen if it turned out that RPM did not have a legitimate...
Discuss what is meant by the terms direct discrimination and indirect discrimination. Include an example of each and refer to anti-discrimination legislation within your answer.
The trial balance of the Garland Company shown below does not balance. Your review of the ledger reveals that each account has a normal balance. You also discover the following errors. 1. The totals...
Digital Devices sets its retail prices on computers, monitors, and printers to generate a 30% rate of markup on selling price. Overhead expenses normally work out to be 30% of cost. What is the...
Calculate the missing values List price (S) Discount rate (%) Discount amount (S) Net price (S) 2849.00 12.5
Why should the performance of variance analyses be based on flexible budgets rather than static budgets?
Barbara Bliss had the following recognized gains and losses during 2018: What are the net tax consequences of these gains and losses for Barbara? Barbara's adjusted gross income is $\$ 30,000$...
If the continuously compounded interest rate is a constant $r$, what is the instantaneous forward interest rate (see Formula 4.5)?
Stenton Toys Ltd. is a toy retailer with stores in each of the Canadian provinces. Stenton has a head office and a central warehouse in Mississauga, Ontario. All inventory purchases are made...
An electrochemical cell has Ag electrodes and an electrolyte containing different concentrations of AgNO3 solutions separated by a salt bridge. When the two cell compartments have AgNO3 concentration...
Lyle Inc. is a cash-basis, calendar-year taxpayer. In 2018, it changes to the accrual method of accounting. Its 2018 income computed under the accrual method is $\$ 75,000$. The following...
For each of the following arguments, construct an indirect proof of validity. (P): RD-M (P): RD (~M~S) (P):~MD (~S~G) :. RD-G
Refer to the table to answer the following questions. Year Nominal GDP (in billions) Total Federal Spending (in billions) Real GDP (in billions) Real Federal Spending (in billions) 2000 9,817 578...
$10,000 was invested in a fund earning 2.4% compounded monthly. How many monthly withdrawals of $300 can be made if the first occurs 3 1/2 years after the date of the initial investment? Count the...
As of Brice's 54th birthday, he has accumulated $154,000 in his Registered Retirement Savings Plan (RRSP). What size of end-of-month payments in a 20-year annuity will these funds purchase at age 65...
Cynthia currently has $185,000 in her RRSP. She will make no further contributions, but will allow this fund to accumulate interest at 6% compounded semiannually for the next 10 years. At that point,...
Create a class named Account that contains: A private int data field named id for the account (default 0). A private double data field named balance for the account (default 0). A private double data...
The next Java code needs to be converted from static to dynamic (just addd changes in same code): import java.util.Scanner; class MyIntStaticCircularQueue { int capacity = 2; int queue[] = new...
Hi! Would a tutor be able to assist me on this? In a complete graph with 48 vertices, how many vertices will be in each node's adjacency list? How many entries will be in the adjacency matrix for...

An item was marked up from $24.99 to $49.98 before it was marked down to $24.99 and

Question:

Step by Step Answer:

Given C 2499 S 4998 S reduced 2499 Enter these values on a ...View the full answer

Business Mathematics In Canada

Students also viewed these Accounting questions