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23. Mrs. Racelis, an entrepreneur, purchased 500 bags of cement at P 240 per bag If she sold 500 bags at P 35,000.Compute for the percentage of gross margin. a.45.71% b. 55.5% c.42.1% d.31.45% 24.A final price after deducting all discounts and rebates

23. Mrs. Racelis, an entrepreneur, purchased 500 bags of cement at P 240 per bag If she sold 500 bags at P 35,000.Compute for the percentage of gross margin. a.45.71% b. 55.5% c.42.1% d.31.45% 24.A final price after deducting all discounts and rebates

EBK CFIN
EBK CFIN
6th Edition
ISBN:9781337671743
Author:BESLEY
Publisher:BESLEY
Chapter15: Managing Short-term Assets
Section: Chapter Questions
Problem 19PROB
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23. Mrs. Racelis, an entrepreneur, purchased 500 bags of cement at P 240 per bag If she sold 500 bags at P 35,000.Compute for the percentage of gross margin. a.45.71% b. 55.5% C.42.1% d.31.45% 24.A final price after deducting all discounts and rebates. d. Purchase price 25.It is the amount by which the retail price of a product is reduced by the manufacturer when it is sold to the a.Net sale b. Net earnings c. Net price reseller or customer. a. Trade discount c. Net price d. Net earnings Retail Price 26.This will be obtained by dividing the trade discount to selling price. .Trade discount b. Discount rate c. Net earnings d. Net price 27. These are given to customers in order to encourage them to purchase in volume. It is also effective in promoting seasonal items and to entice new set of customers. a. List price b. Discount series c. Discount d. Trade discount 28. An item worth 10,000 is now selling with discount. Of the following discount series, which has a greater discount? d. 15%, 25%, and 5% a.20%, 15%, and 10% b.10%, 25%, and 15% c.5%, 25%, and 10% 29.What single discount is equivalent to two successive discounts of 30% and 15%? b.39.75% a.41.50% c.40.50% d.42.75% 30. The furniture originally cost at P 87,985 and is sold for P 109,981.25. How much is the cost of the furniture? 109,981.25 31.The difference between what a merchant invests into business and what he receives in return a. P b. P 110,989.50 c. P 97, 250.50 d.P 87,985 a. Profit b. Net sales c. Sales 32.The amount of money received from selling goods d. Loss a. Profit Loss c. Net sales d. Cost of Sales 33. To acquire something by paying for it. a. Cost of sales b. Purchases c. Sales d. Net Sales 34.Aris bought 50 dozens of pencils at P 60 a dozen.Out of these, 20 pencils were found broken. He sold the remaining pencils at P 7.00 each. Find his percent gain or percent loss. a.P 1,940 b. P 2,010 c.P 1,840 d. P 1,980 35.Julius went to Bicol and bought 25 packs of pili nuts for P875 with 10% discount. When he got back to Manila, he sold 15 packs for P 725 and the rest at P 45 each. How much profit did Alden gain? a.P 424 b. P 318 c. P 412 d. P 388 36.Greg bought a laptop for P 25,000 and spent P 2,500 on its spares. He later sold it for P 25,000. How much is Greg's loss? b. P 2,050 37.Kim sold a watch to his friend at a loss of 5% If his friend paidDeEO a.P 12,500 c. P 1,050 d. P 2,500
Transcribed Image Text:23. Mrs. Racelis, an entrepreneur, purchased 500 bags of cement at P 240 per bag If she sold 500 bags at P 35,000.Compute for the percentage of gross margin. a.45.71% b. 55.5% C.42.1% d.31.45% 24.A final price after deducting all discounts and rebates. d. Purchase price 25.It is the amount by which the retail price of a product is reduced by the manufacturer when it is sold to the a.Net sale b. Net earnings c. Net price reseller or customer. a. Trade discount c. Net price d. Net earnings Retail Price 26.This will be obtained by dividing the trade discount to selling price. .Trade discount b. Discount rate c. Net earnings d. Net price 27. These are given to customers in order to encourage them to purchase in volume. It is also effective in promoting seasonal items and to entice new set of customers. a. List price b. Discount series c. Discount d. Trade discount 28. An item worth 10,000 is now selling with discount. Of the following discount series, which has a greater discount? d. 15%, 25%, and 5% a.20%, 15%, and 10% b.10%, 25%, and 15% c.5%, 25%, and 10% 29.What single discount is equivalent to two successive discounts of 30% and 15%? b.39.75% a.41.50% c.40.50% d.42.75% 30. The furniture originally cost at P 87,985 and is sold for P 109,981.25. How much is the cost of the furniture? 109,981.25 31.The difference between what a merchant invests into business and what he receives in return a. P b. P 110,989.50 c. P 97, 250.50 d.P 87,985 a. Profit b. Net sales c. Sales 32.The amount of money received from selling goods d. Loss a. Profit Loss c. Net sales d. Cost of Sales 33. To acquire something by paying for it. a. Cost of sales b. Purchases c. Sales d. Net Sales 34.Aris bought 50 dozens of pencils at P 60 a dozen.Out of these, 20 pencils were found broken. He sold the remaining pencils at P 7.00 each. Find his percent gain or percent loss. a.P 1,940 b. P 2,010 c.P 1,840 d. P 1,980 35.Julius went to Bicol and bought 25 packs of pili nuts for P875 with 10% discount. When he got back to Manila, he sold 15 packs for P 725 and the rest at P 45 each. How much profit did Alden gain? a.P 424 b. P 318 c. P 412 d. P 388 36.Greg bought a laptop for P 25,000 and spent P 2,500 on its spares. He later sold it for P 25,000. How much is Greg's loss? b. P 2,050 37.Kim sold a watch to his friend at a loss of 5% If his friend paidDeEO a.P 12,500 c. P 1,050 d. P 2,500
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