Adil is paid a commission amount of 2280 RO. During January 2020, his sales were 38,000 RO. What is the rate of commission? Select one: а. 4% O b. 15% с. 6% d. 10%
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- Samgyupsalamat mployees are given 10% commissions based on sales made every quarter starting January 1, 2019. The commission will be 15 days after the close of the quarter. As of December 31, 2019, the company paid a total of P1,500,000 and the total expense is P2,600,000. If the sales were in the 1st quarter is 25% less than the 2nd quarter and the 3rd quarter is P120,000 higher than the 2nd quarter, how much is the commission expense recognized in the 1st, 2nd, 3rd and 4th quarter, respectively?Ahmed sells goods costing $150,000 to Samad for $210,000 on January 2, 2020, including installation fee of $18,000. The fair value of goods is $185,000. The installation is expected to take 6 months. Prepare the journal entry to record the sales. How much sales revenue should be recording for the first quarter, ending on March 31, 2020?Employees of Yawa Inc. are given 10% commissions based on sales made every quarter starting January 1, 2020. The commission will be 15 days after the close of the quarter. As of December 31, 2020, the company paid a total of P1,800,000 and the total expense is P2,900,000. If the sales were in the 1st quarter is 25% less than the 2nd quarter and the 3rd quarter is P150,000 higher than the 2nd quarter, how much is the commission expense recognized in the 1st, 2nd, 3rd and 4th quarter, respectively?
- 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 1050At December 31, 2020, Feel Company had 20,000 gift certificates outstanding, which had been sold to customers during 2020 for P500 each. Feel operates on a gross margin of 60% of its sales. What amount of revenue pertaining to the 20,000 gift certificates should be deferred at December 31, 2020? *At 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.
- Manual Company sells goods to Nolan Company during 2020. It offers Nolan the following rebates based on total sales to Nolan. If total sales to Nolan are 10,000 units, it will grant a rebate of 2%. If it sells up to 20,000 units, it will grant a rebate of 4%. If it sells up to 30,000 units, it will grant a rebate of 6%. In the first quarter of the year, Manual sells 11,000 units to Nolan at a sales price of $110,000. Manual, based on past experience, has sold over 40,000 units to Nolan, and these sales normally take place in the third quarter of the year. What amount of revenue should Manual report for the sale of the 11,000 units in the first quarter of the year?Carla Vista Company sells goods to Pearl Company during 2020. It offers Pearl the following rebates based on total sales to Pearl. If total sales to Pearl are 11,200 units, it will grant a rebate of 2%. If it sells up to 19,600 units, it will grant a rebate of 4%. It if sells up to 29,200 units, it will grant a rebate of 6%. In the first quarter of the year, Carla Vista sells 9,000 units to Pearl at a sales price of $90,000. Based on past experience, Carla Vista has sold over 40,000 units to Pearl, and these sales normally take place in the third quarter of the year.Company M uses the cost recovery method. During 19A, it sells goods with a cost of $15,000 for $25,000, payable in installments of $10,000, $10,000 and $5,000, respectively, beginning in 19A. How much profit should be recognized each year?
- Splish Company sells goods to Blossom Company during 2020. It offers Blossom the following rebates based on total sales to Blossom. If total sales to Blossom are 10,500 units, it will grant a rebate of 2%. If it sells up to 21,200 units, it will grant a rebate of 5%. If it sells up to 30,800 units, it will grant a rebate of 6%. In the first quarter of the year, Splish sells 10,600 units to Blossom at a sales price of $106,000. Splish, based on past experience, has sold over 37,600 units to Blossom, and these sales normally take place in the third quarter of the year.What amount of revenue should Splish report for the sale of the 10,600 units in the first quarter of the year. Revenue $during november 2020 marvin's pre owned vechiles lts sells high end car for 120,000. the cost of the vehicle was 55 000, resulting in a gross profit of $65,000 The $120,000 sale price is to be paid four equal instalment on Dec. 31 in each of the years 2021 to 2024. Marvin's pre owned vehicles ltd. has a december 31 year end. Requirements. A. The amount of the reserve that can be deducted B. The net business incomeOn August, 2019, HBO consigned to GEO 10 laptops costing P15,000 each, paying freight charge of P15,000. At the end of the month, GEO reported sales of 6 handbags at P30,000 each and incurred expenses of P12,500 and remitted the net proceeds due to HBO after deducting a 20% commission on the sales price. How much net income did HBO realize in August on the consignment? A. 37,500 income B. 32,500 income C. 33,500 loss D. 32,500 loss