1. A buyer purchased 1500 towels at $10 each and 1500 matching face clothes at $5 each. The buyer decided to sell the towel and face cloth as a set for $29.99. What was the markup on this purchase?
Q: ed one month ago for $1,000, has just been sold for $1,700. What nominal annual rate of return did…
A: Given, Purchase price = $1,000 Sale price = $1,700 No. of months = 1
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A: Markup can be defined as the difference between the sales price & cost as a percentage of cost.…
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A:
Q: 1. An online seller sells RTW for P4,500 for 75 pieces of trendy tiktok tops. Lara offered to buy…
A: Fair market value Fair Market Value in relation to good/services is the price at which both the…
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A: Note: Since you have posted multiple questions, we will solve the first question. Please submit a…
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A: The purchase price is the price paid to purchase the goods and service. It is the amount paid by the…
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A: Cost of Inventory: It can be defined as the cost of buying the merchandise, deducting any discount…
Q: 9. Sona Havershield purchased two fitted bedsheets for $10.50. The regular price is $6.99 each. She…
A: Total regular price for bed sheets = 6.99*2 = 13.98 Markdown here = regular selling price - amount…
Q: Azlita bought a refrigerator with marked down 14% during a clearance sale. The selling price is…
A: Selling price: It is the price at which product or service is sold in the market by a seller to a…
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A: As posted multiple independent questions we are answering only first question kindly repost the…
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A: The difference between the selling and cost price of the goods and services is term as the markup.
Q: Gerry runs a clothing store in London. He recently purchased 1200 dress shirts that had…
A: %55 per shirt=0.55*1200=660 20% on selling price=20%660=132 50% on selling price=50%660=330…
Q: Marissa paid $203.57 for a printer that she purchased after receiving trade discounts of 24%, 18%,…
A: List price of the printer =amount paid / (1-discount1)*(1-discount2)*(1-discount3)
Q: Find the selling price b) Find the gross profit c) Find the breakeven price
A: As per our guidelines and protocol we provide solution to first three sub-parts only but as you have…
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A: The discounted price is calculated by deducting the discount from the original price.
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A: List price is the price before any discount. Discount is calculated on the list price.
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A: Trade-in over allowance Trade-in over allowance is the additional discount offered to the customer…
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A: We need to compute total markdown on purchases.
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A: The retail price- Mark up on sales Retail price = Cost of purchase / ( 1 - Mark up on sale )
Q: A buyer purchased 1500 towels at $10 each and 1500 matching face clothes at $5 each. The buyer…
A: Total cost of a set = Towels cost + Matching face clothes cost = $10 + $5 = $15
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A: List Price of Television = RO 380 List Price includes tax, Tax Rate = 10% Ouput TAx = RO 380 *…
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A: VAT refers to Value Added Tax charged by the seller of goods. It is charged over and above the…
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A: Solution Introduction Mark up on cost Mark up on cost means the profit margin is added as a…
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A: VAT means that tax levied by government on the sale or purchase of goods. VAT means the value added…
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A: Selling price of the furniture = cost + markup
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A: Purchase price = $3,000 Voucher value = $ 500 Probability of redemption (estimate) is 90%
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A: Amount realized is the amount that is received after selling the product. Gain or loss is the amount…
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A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…
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A: Reducing the selling price of an item below its original price is known as Markdown. The mark down…
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A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…
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A: The list price represents the amount charged from the buyer inclusive of specified tax rates.
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A: Cost of sales means actual cost of goods that is being sold to the customers. It only includes cost…
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- Hi Mohamed when you submit this formm, the owner will be able to see your name and email address. 1.If Noof sells abayas for BD23, what would the purchase price be if 20% margin was applied? 2. If Ahmed sells laptops for 290, what would the purchase price be if 20% mark-up was applied?Cascade Company manufactures a single laundry soap. A towel is offered as a premium to customers who send in two proof-of-purchase seals from the soap boxes and a remittance of P20. The corporation incurs a distribution cost of P5 per towel. Data for the premium offer are: 2021 2022Soap sales P 2,500,000 P 3,125,000Towel purchases (P100 per towel) 175,000 200,000Number of towels distributed as premium 1,000 pieces 1,800 piecesNumber of towels expected to be distributedas premium in the subsequent period 600 pieces 800 pieces 1. What is the balance of the estimated premium liability at December 31, 2022? 2. What is the balance of the premiums inventory as of December 31, 2022?2) A fish vendor bought P653.85 worth of fish. The following day his order worth P562.15 arrived. If she was able to sell them all for P1,625.05 how much did he gain? 3) A school canteen sold hot cakes at P0.55 each. How many were sold if the sale was P18.70? 4) Anne can type 55 words in 1 1/3 minutes. How long will it take her to type 100 words?
- Provide a better solution On January 1, 2021, VVV received from ABC 300 pieces of bread toaster. VV was to sell these on consignment at 50% above original cost, for a 15% commission on the selling price. After selling 200 pieces, VVV had the remaining unsold units repaired for some electrical defects which he spent P2,000. ABC subsequently increased the selling price of the remaining units to P330 per unit. On January 31,2021, VVV remitted P64,980 to ABC after deducting the 15% commission, P850 for delivery expenses of sold units, and P2,000 for the repair of 100 units. The consignment goods cost ABC P200 per unit, and P900 had been paid to ship them to VVV shop. All expenses in connection with the consignment were reimbursable to the consignee. Determine the value inventory to be presented in the statement of financial position.Palmer Frosted Flakes Company offers its customers a pottery cereal bowl if they send in 3 boxtops from Palmer Frosted Flakesboxes and P2. The company estimates that 60% of the boxtops will be redeemed. In 2020, the company sold 675,000 boxesof Frosted Flakes and customers redeemed 330,000 boxtops receiving 110,000 bowls. If the bowls cost Palmer Company P6each, how much liability for outstanding premiums should be recorded at the end of 2020?a. P540,000 c. P150,000b. P100,000 d. P276,000Q5. Miss Zamzam Al Bulushi, an professional consultant has recently bought the new office. She went to the Emax Electronics to buy the Air Conditioner for her office. The Emax has wide range of AC’s but she selects LG extra cool model. The product was priced RO 350 and Emax was offering 10% discount on the selling price. During the conversation with sales person, Zamzam came to know that Emax had bought this AC from the manufacturer for RO 300. Finally she decided to buy the AC. a) What is markup and how it useful in deciding the price of the product? Discuss b) What is the Emax’s markup rate on cost and how much is the markup amount? c) What do you mean by discount and how discount is useful tool for the seller? d) How much amount Zamzam paid to buy the AC? e) If Emax’s rate of markup is 20% on cost, what would be the selling price of the AC?
- A towel is offered as a premium to customers who send in 10box tops of facial soap returned and a remittance of ₱25. Distribution cost is ₱10 per towel. The entityestimated that only 60% of the box tops reaching the market will be redeemed. The entity provided thefollowing information: 2020 2021Facial soap sales, ₱50 per unit ₱ 2,500,000 ₱ 2,875,000Towel purchases, ₱90 per unit ₱ 337,500 ₱ 360,000Number of box tops returned 22,500 38,550Requirements:4. Compute for the premiums (as an asset) amount for the year ended:A. December 31, 2020B. December 31, 2021Topsy Corporation started a promotional program. A towel is offered as a premium to customers who send in 10 box tops of facial soap returned and a remittance of ₱20. Distribution cost is ₱5 per towel. The entityestimated that only 60% of the box tops reaching the market will be redeemed. The entity provided the following information: 2019 2020 Facial Soap sales, P45 per unit 2,400,000 php 2,785,000 php Towel purchases, P70 per unit 320,500 php 355,000 php Number of box tops returned 20,500 php 34,850 php REQUIRED: How much net cash did the entity receive (give) with regards to the premium transactions for the year 2019 and 2020?Topsy Corporation started a promotional program. A towel is offered as a premium to customers who send in 10 box tops of facial soap returned and a remittance of ₱20. Distribution cost is ₱5 per towel. The entityestimated that only 60% of the box tops reaching the market will be redeemed. The entity provided the following information: 2019 2020 Facial Soap sales, P45 per unit 2,400,000 php 2,785,000 php Towel purchases, P70 per unit 320,500 php 355,000 php Number of box tops returned 20,500 php 34,850 php REQUIRED: Compute for the premium liability for the year ended December 31, 2019 and 2020.
- Topsy Corporation started a promotional program. A towel is offered as a premium to customers who send in 10 box tops of facial soap returned and a remittance of ₱20. Distribution cost is ₱5 per towel. The entityestimated that only 60% of the box tops reaching the market will be redeemed. The entity provided the following information: 2019 2020 Facial Soap sales, P45 per unit 2,400,000 php 2,785,000 php Towel purchases, P70 per unit 320,500 php 355,000 php Number of box tops returned 20,500 php 34,850 php REQUIRED:Compute for the premiums expense for the year ended December 31, 2019 and 2020.Basil Company inaugurated a premiums promotional campaign at the beginning of 2021. Two stickers are included for every sachet of shampoo sold. These stickers will be used to redeem a hair brush. To claim one hair brush, a customer shall present 30 stickers. Each sachet of shampoo is sold at P15 while the hair brush had a cost of P5 each. The following is the summary of the promotional campaign for years 2021 and 2022: 2021 2022 Total sachet of shampoo sold 300,000 562,500 Total stickers presented for redemption 405,000 825,000 The company estimates that only 80% of the stickers will be presented for redemption. The hair brush can be sold separately at P10 if not use in premium promotional program. Basil Company should reported unearned premium income at the end of December 31, 2022 of? Group of answer choices P48,283 P49,817 P24,142 P37,524Marichu Company manufactures a special product. To promote the sale of the product, a premium is offered to customers who send in three wrappers and a remittance of P25. The distribution cost per premium is P5. 5,000 and 7,000 premiums were purchased in 2021 and 2022 respectively. Data for the premiums are: 2021 2022 Sales P20,000,000 P25,000,000 Premiums purchased P400,000 P560,000 Number of premiums distributed 4,000 5,500 Number of premiums to be distributed next period 300 500 The premium expense for 2022 should be