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1. A watch store owner decided to offer 20% discount for a particular brand of watch that sells at P35.000.00. By doing so, his average sales increased from 5 watches to 12 watches a day. If he bought one watch at a price of P22,000.00 from the supplier, by how much was his daily profit increased or decreased by offering such discount on the watch? 2. Michelle went to Baguio and bought 20 jars of strawberry jam for P3,500.00 with 1 5% discount. When she got back to Manila, she sold 10 of the jars for a total of P1,800.00and the rest as P185.00 each. How much profit did Michelle again?

1. A watch store owner decided to offer 20% discount for a particular brand of watch that sells at P35.000.00. By doing so, his average sales increased from 5 watches to 12 watches a day. If he bought one watch at a price of P22,000.00 from the supplier, by how much was his daily profit increased or decreased by offering such discount on the watch? 2. Michelle went to Baguio and bought 20 jars of strawberry jam for P3,500.00 with 1 5% discount. When she got back to Manila, she sold 10 of the jars for a total of P1,800.00and the rest as P185.00 each. How much profit did Michelle again?

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter12: Current Liabilities
Section: Chapter Questions
Problem 3PB: Review the following transactions, and prepare any necessary journal entries for Sewing Masters Inc....
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15. Preparation & presentation of the firtancial statements of the entity is the primary responsibility of an accauntant, Additional Activities After learning how to compute the gross prcfit at least you have learned now how to do it by your own. Solve and compute tha fotowing: 1. A watch store owner cecided to offer 20% discount for a particLfar brand of watch that sells at P35.000.00. By doing so, his average sales increased from 5 watches to 12 watches a day. If he bought one watch at a price of P22,000.00 from the supplier, by how much was his daily profit increased or decreased by offering such discount on the watch? 2. Michelle went to Baguio and bought 20 jars of strawberry jam for P3,500.00 with 1 5% discount, When she got back to Manila, she sold 10 of the jars for a total of P1,800.00and the rest as P185.00 each. How much profit did Michelle again?
Transcribed Image Text:15. Preparation & presentation of the firtancial statements of the entity is the primary responsibility of an accauntant, Additional Activities After learning how to compute the gross prcfit at least you have learned now how to do it by your own. Solve and compute tha fotowing: 1. A watch store owner cecided to offer 20% discount for a particLfar brand of watch that sells at P35.000.00. By doing so, his average sales increased from 5 watches to 12 watches a day. If he bought one watch at a price of P22,000.00 from the supplier, by how much was his daily profit increased or decreased by offering such discount on the watch? 2. Michelle went to Baguio and bought 20 jars of strawberry jam for P3,500.00 with 1 5% discount, When she got back to Manila, she sold 10 of the jars for a total of P1,800.00and the rest as P185.00 each. How much profit did Michelle again?
15. Preparation & presentation of the firtancial statements of the entity is the primary responsibility of an accauntant, Additional Activities After learning how to compute the gross prcfit at least you have learned now how to do it by your own. Solve and compute tha fotowing: 1. A watch store owner cecided to offer 20% discount for a particLfar brand of watch that sells at P35.000.00. By doing so, his average sales increased from 5 watches to 12 watches a day. If he bought one watch at a price of P22,000.00 from the supplier, by how much was his daily profit increased or decreased by offering such discount on the watch? 2. Michelle went to Baguio and bought 20 jars of strawberry jam for P3,500.00 with 1 5% discount, When she got back to Manila, she sold 10 of the jars for a total of P1,800.00and the rest as P185.00 each. How much profit did Michelle again?
Transcribed Image Text:15. Preparation & presentation of the firtancial statements of the entity is the primary responsibility of an accauntant, Additional Activities After learning how to compute the gross prcfit at least you have learned now how to do it by your own. Solve and compute tha fotowing: 1. A watch store owner cecided to offer 20% discount for a particLfar brand of watch that sells at P35.000.00. By doing so, his average sales increased from 5 watches to 12 watches a day. If he bought one watch at a price of P22,000.00 from the supplier, by how much was his daily profit increased or decreased by offering such discount on the watch? 2. Michelle went to Baguio and bought 20 jars of strawberry jam for P3,500.00 with 1 5% discount, When she got back to Manila, she sold 10 of the jars for a total of P1,800.00and the rest as P185.00 each. How much profit did Michelle again?
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