An engineer bought a second-hand service car and later sold it to a client at a profit of 20%. He said client then resold the car to a trader of a profit at 28%. If the trader paid 30,000 pesos more than it cost the engineer, how much did the engineer paid the car. Show complete solution on a clear paper.
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An engineer bought a second-hand service car and later sold it to a client at a profit of 20%. He said client then resold the car to a trader of a profit at 28%. If the trader paid 30,000 pesos more than it cost the engineer, how much did the engineer paid the car.
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- An engineer bought a second-hand service car and later sold it to a client at a profit of 20%. The said client then resold the car to a trader at a profit of 28%. If the trader paid P30,000 more than it cost the engineer, how much did the engineer paid the car?W bought a new printing machine. The cost of the machine was $80,000. The installation costs were $5,000 and the employees received training on how to use the machine, at a cost of $2,000. Before using the machine to print customers' orders, a test was undertaken and the paper and ink cost $1,000. What should be the cost of the machine in the company's statement of financial position?W bought a new printing machine from abroad. The cost of the machine was $80,000. The installation costs were $5,000 and the employees received specific training on how to use this particular machine, at a cost of $2,000. Before using the machine to print customers' orders, a test was undertaken and the paper and ink cost $1,000. What should be the cost of the machine in the company's statement of financial position?
- Ali, the owner of the business purchased Furniture for RO 10, 000 to be used in the business. The manager estimates the value of the Furniture to be RO 11,000 in the market. If the Business follows Historical Cost concept, the amount to be recorded for Furniture is a. RO 11,000 b. RO 1000 c. RO 21,000 d. RO 10,000 Which of the following transactions would increase the cash by RO 5000 and increase the revenue by RO 5000? a. Paid RO 5000 for the creditors b. Performed service to the customer RO 5000 and the customer paid cash RO 5000 c. Purchased Furniture RO 5000 d. Took Loan of RO 5000 from Bank Nizwa Ms. Nihal started her business by investing RO 30,000 in cash. This transaction would? a. increase one asset and decrease another asset b. decrease assets and decrease liabilities c. increase assets and increase equity d. increase assets and increase liabilities Which of the following transactions would decrease asset by RO 2000 and increase expense by RO 2000 a. The…A brand new car was up for a raffle where tickets are sold for Php 500. Three thousand tickets were made and all were sold out. If the price of the car when bought from a car shop is 1 million pesos, what is the expected gain of each of those who bought one ticket?You are the manager of Synlait. Your accountant has indicated that one of the milking machines worth $1m needs to be replaced. You as the manager are required to agree to and sign off the purchase of a replacement machine priced at $25m. Before you make the decision, you need to understand the impact of the purchase and its financing on the financial statements. The milking machine will be financed by paying 20% in cash and the balance as a signed note agreeing to pay the balance at the end of the year. Interest of 5% p.a. will start accruing in the month following the purchase. The old machine will be sold for cash of $1m. Indicate, using the accounting equation, the impact of this transaction on the Balance Sheet and Income Statement. That is, the impact of the sale of the old machine, the purchase of the replacement machine and the first month of interest, but you can ignore depreciation.
- The owner's of a small manufacturing concern have hired a manager to run the company with the expectation that he will buy the company after 5 years. Compensation of the new vice president is a flat salary pluss 75% of the first $150,000 profit, then 10% of profit over $150,000. Purchase price for the company is set at 4.5 times earnings (profit), computed as average annual profitability over the next five years. Q1- Does this contract align the incentives of the new vice president with the profitability goals of the owners? Q2- Redesign the contract to better align the incentives of the new vice president with the profitability goals of the owners.Mr. Del Valle went to the Ace Hardware store, ordered 250 bags of cement worth P 55,000 on credit. A charge invoice: SOLD TO MR. DEL VALLE was issued and signed by both parties. Mr. Del Valle promised to pay Ace Hardware in 30 days, which was indicated in the invoice. Mr. Del Valle requested Ace Hardware to have the cement brought to his house, only 10 blocks away, in Ace's delivery truck. Being a large sale and Mr. Del Valle being a valued customer, Ace Hardware agreed. While in transit, Ace's truck collided with a 10-wheeler, caused the cement bags to burst and spill on the sidewalk; because it was raining heavily, all the cement hardened, making them unusable. Who will pay for the P55,000 in 30 days? In the charge sales invoice, Mr. Del Valle signed or acknowledged having received the merchandise and at the bottom of the invoice, he signed a promissory note for P55,000 or 30 days. ** Need asap pls. Thank you.Olga was planning to set up a business where she would purchase paintings for $1,050 per unit and sell them for $1,800 per unit. She wanted to conduct a break-even analysis and identified the following costs for running her business: $4,470.00 per month for store leasing, $54 per month website hosting fee, $5,150 per month for staff salary, $2,040 per month for advertising costs, and $25 per unit for labour charges to pack the paintings. a. How many paintings would she have to sell per month to break-even? Round up to the next whole number b. If she wants to make a profit of $24,000 in a month, how many paintings would she have to sell? Round up to the next whole number
- A merchant acquires articles for his business for a value of $8,600 paying 30% in cash and the rest with direct financing from the supplier; Two months later he makes a payment of $2,000, agreeing to pay off the debt with a final payment after 6 months. Find the value of the final payment considering that the money is financed at 7%. R $ 4.184,03In December 2016, Marcus purchased a car at RM 60,000 from Toyota UMW Sdn. Bhd. through a hire purchase agreement. He paid RM 20,000 down payment with 20 monthly instalments of RM2,266.67 each. After nine months of payment defaults, the car was legally repossessed and sold for RM 20,000. Find the amount of refund that he would receive from the company or the amount that of money that hw would have to pay to the companyLeo Consulting enters into a contract with Highgate University to restructure Highgate’s processes for purchasing goods from suppliers. The contract states that Leo will earn a fixed fee of $25,000 and earn an additional $10,000 if Highgate achieves $100,000 of cost savings. Leo estimates a 50% chance that Highgate will achieve $100,000 of cost savings. Assuming that Leo determines the transaction price as the expected value of expected consideration, what transaction price will Leo estimate for this contract?