A salesman gets P10,000 commission on a sale of a item. This amount raised his average commission by P1,100. If his new average commission is P4,500, what is his total commission? mLEbS 18 A. P31000 C. P25000 P27000 evela A as R. P29000 D. AUC
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- Assume your commission is 20% of sales. Your sales were R30 000,00. What is the value of the commission owed to you?McDowell Industries sells on terms of 3/10, net 30. All sales for the year are on credit amount to Ksh 912,500,000; 40% of the customers pay on the 10th day and take discounts, while the other 60% pay, on average, 40 days after their purchases. a. What is the days’ sales outstanding? b. What is the average amount of receivables? c. What is the percentage cost of trade credit to customers who take the discount? d. What is the percentage cost of trade credit to customers who do not take the discount and pay in 40 days? e. What would happen to McDowell’s accounts receivable if it toughened up on its collection policy with the result that all non-discount customers paid on the 30th day?Humaid is paid a 7% commission on all sales. He sold goods worth RO 15,000 in a month. What is his gross pay if he takes a draw of RO 500? a. RO 550 b. RO 650 c. RO 1011.5 d. RO 1050
- McEwan Industries sells on terms of 3/10, net 30. Total sales for the year are $1,921,000; 40% of the customers pay on the 10th day and take discounts, while the other 60% pay, on average, 70 days after their purchases.a. What is the days sales outstanding?b. What is the average amount of receivables?c. What is the percentage cost of trade credit to customers who take the discount?d. What would happen to McEwan’s accounts receivable if it toughened up on its collection policy with the result that all nondiscount customers paid on the 30th day?McEwan Industries sells on terms of 3/10, net 30. Total salesfor the year are $1,921,000; 40% of the customers pay on the 10th day and take discounts,while the other 60% pay, on average, 70 days after their purchases.a. What is the days sales outstanding?b. What is the average amount of receivables?c. What is the percentage cost of trade credit to customers who take the discount?d. What is the percentage cost of trade credit to customers who do not take the discountand pay in 70 days?e. What would happen to McEwan’s accounts receivable if it toughened up on its collectionpolicy with the result that all nondiscount customers paid on the 30th day?1. A trading firm traded their brand-new computers with a margin of 65% based on their cost. One computer is tagged at P75, 950. What is the percent margin based on cost? 2. An invoice dated June 27 for P20, 850 carried a cash discount of 5/30. If this invoice is paid on July 25, how much should be the payment?
- Assume your commission is 20% of sales. Your sales were R 30 000,00.What is the value of the commission owed to you22-A company purchased goods worth RO 10,000 excluding VAT and sold to customers for RO 25,000 excluding VAT. Assume the VAT rate as 5%. How much will be the VAT collected by the government? a. RO 1,750 b. RO 750 c. RO 1,250 d. RO 5001. How much commission will you earn if your sales amounted to P140 950 and you receive a fixed commission rate of 6%? 2.How much will be your total earnings if you received a fixed salary of P25 000 and a bonus of 8% if you exceed your sales quota of P50 000 (for the total sales, refer to number 1)?3.How much will be your supervisor's override commission on your sales if she receives 2% (refer to number 1)?
- The company sells on terms 2/10, net 30. Total sales for the year are P1,000,000, of which P100,000 are on cash basis. Half of the customers pay on the tenth day and take discounts on average, 40 days after their purchases. What is the average amount of receivables? a. P62,500 b. P69,444.44 c. P20,408.16 d. P10,204.08At December 31, 2021, Suo’s Boutique had 2,000 gift certificates outstanding, which had been sold to customers during 2021 for P50 each. Sue’s operates on a gross margin of 60% of its sales. What amount of revenue pertaining to the 2,000 outstanding gift certificates should be deferred at December 31, 2021? a. P0 b. P40,000. c. P60,000. d. P100,000.4. Estrada V. Escritor sells on terms 3/10, net 30. Total sales for the year are ₱2,539,130. Forty percent of the customers pay on the tenth day and take discounts; the other 50% percent pay on 30th day average, and ten percent, on the average pay 40 days after their purchases. Assume a 365-day year, what is the average amount of receivables? (round to nearest peso amount).