An item listed at $100 is subject to the discounts of 20%, 10% and 5%. Determine the net price.
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Q: Arrow Manufacturing offers discounts of 31%, 15.5%, 3% on a line of products For how much should an…
A: Given information : Selling price : $286.22 Discount offered : 31%,15.5%,3%
Q: You place an order for 250 units of inventory at a price of $130 per unit. The supplier offers terms…
A: Solution- (A) Days until Overdue=30 days Working notes- Offers term of 1/10, net 30, if we pay…
Q: Given credit terms of 3/10, n/30 on a sale of $2,000, calculate the sales discount, assuming payment…
A: credit terms: 3/10 - means 3% discount given if payment is made within 10 days
Q: The company purchased merchandise for ₱55,496 less 2 on terms 50% down, balance 2/10, n/30. How…
A: Purchase discount is a discount provided by the seller if payment is made within a specific period…
Q: When a sale is made with the credit terms of 2/10, net 30, the discount of ____% will be used if…
A: Solution:- 1)When a sale is made with the credit terms of 2/10, net 30, the following percentage of…
Q: Calculate the single equivalent discount and amount of trade discount on merchandise listing for…
A: Discount means the amount which is not required to be paid or received. 30/10/5 means that 30%…
Q: The amount of discount to be recorded if the invoice is paid within the discount period on a…
A: Trade discount is that discount which is being given to all the customers on the list price of the…
Q: The collection of a $36,000 account within the 2 percent discount period will result in a: debit…
A: Cash discounts are granted in order to expedite the collection. If the term says that a goods are…
Q: The following information were found from the records of FDN Company: Net Purchases = P90,000…
A: The discount can be of different types as trade discount and cash discount. The trade discount is…
Q: A manufacturer offers a 25/20 chain discount if the invoice subtotal is above $1,000. If the list…
A: on selling 23 units, the chain discount will get activated.
Q: ABC Company sold merchandise with P10,000 list price, subject to trade discount of 25%, and is paid…
A: 2/10 net 30 means 2% discount will be there if payment is made with in 10 days and no discount after…
Q: JIH took delivery of merchandise invoiced at $24,600.00 with terms cash 6, 2/40, n/60. Calculate the…
A: The interest is calculated based on certain terms and conditions. The payment is depends on time…
Q: Main Street Distributors, a wholesale firm, made sales using the following list prices and trade…
A: Trade discount is a type of discount which is provided on list price of the product. This type of…
Q: If merchandise is sold on account to a customer for 1000 terms FOB shipping point, 1/10, n/30 and…
A: Discount on merchandise is given by the seller to buyer, when the seller repay the credit early or…
Q: Calculate the net price factor and net price (in dollars). For convenience, round the net price…
A: List price is the selling price recommended by the manufacturer to the retailer.
Q: Kingbird, Inc. purchased merchandise inventory with an invoice price of $13100 and credit terms of…
A: Given, Invoice price = $13,100 Terms = 2/10, n/30
Q: GJ Office Supplies offers the following discounts: Trade discounts of 10% at list price and another…
A: Trade Discount=List price×Trade Discount=P 62,000×10%=P 6,200
Q: On March 1, ZCX company made a sale of $87,500, on credit. If the credit terms were 2/10, n/30, what…
A: Lets discus basic things. Seller for the purpose of getting early payment from the buyer, gives the…
Q: When a sale is made with the credit terms of 2/10, net 30, the discount of ____% will be used if…
A: When a sale is made with the credit terms of 2/10, net 30, the discount of 2% will be used if paid…
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Q: ore has a sale with 10 % off every item. When you enter the store, you receive a coupon that states…
A: Companies provide different amount of discounts to the customers and these are given to increase and…
Q: Merchandise costing $2,000 is sold for $3,000 on terms 2/10, n/30. If the buyer pays within…
A: Net sales = Sales - Discount Gross profit = Net sales - Cost of goods sold
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Q: On June 1, 2020, ABC Company sold merchandise with a list price of P50,000 to XYZ Company on…
A: Under FOB destination, Goods are taken into inventory costing when goods are delivered to the buyer…
Q: Which of the following cases show(s) the situation(s) that the list price is higher than the net…
A:
Q: A company purchases merchandise for $23,000. The seller also offers credit terms of 2/10, n/30.…
A: Cost of purchase = 23000 Credit Terms = 2/10, n/30
Q: You purchase goods with a net price of $240. The invoice is dated October 7 with terms of 3/20,…
A: (a) Cash discount = Net price * Cash discount percentage Cash discount = $240 * 0.03 Cash discount =…
Q: If merchandise is bought with a list price of $2,800, subject to a 30 percent trade discount and a…
A: Merchandise Inventory: Merchandise is the stock of goods bought by a wholesaler, or a retailer, or a…
Q: The amount of discount to be recorded if the invoice is paid within the discount period on a…
A: The cash discount would be calculated on the amount, after deducting the trade discount from list…
Q: How much is the accounts payable? • How much is the discount if paid in full within the discount…
A: The question pertains to discount allowed on timely payment. Whenever goods are sold on credit the…
Q: What is the single equivalent discount and amount of trade discount on merchandise listing for…
A: In this we have to determine the equivalent discount.
Q: A Retailer purchased merchandise inventory with an invoice price of RO 80,000 and credit terms are…
A: The net cost of goods sold if payment made within discount period is 78,400 Net Cost of Goods…
Q: he full amount of purchase is P530. If a cash discount of 10% is allowed, find the amount of the…
A: Purchases mean where the goods have been purchased for the resale purpose. Cash discount means where…
Q: If merchandise is sold on account to a customer for $1,000, terms FOB shipping point, 1/10, n/30,…
A: Lets understand the basics. Seller for attracting early payment, gives the discount term to the…
Q: A supplier offers the following discounts: Trade discounts of 20% at list price and another cash of…
A: The amount paid after discount is calculated as difference between total invoice price and discount…
Q: A. R. Black, Ltd. has received an invoice for $500 subject to trade discounts 10%, 20%. A cash…
A: Cash Discount: A cash discount is a reduction in the amount of an invoice that the seller allows the…
Q: In the event of 12.12 Grand Sale, Agigas warehouse gave trade discounts 40%,10% and 2% to their shop…
A: Let the single discount equivalent to given trade discounts = d
Q: Assume that a company records purchases net of discount. If the company bought merchandise valued at…
A: Purchases are recorded net of discount which means Accounts payable will be recorded as net of…
Q: Merchandise costing $714 is sold for $1,234 on terms 2/10, n/30. If the buyer pays within the…
A:
Q: Find the value added tax paid by the wholesaler and the retailer.
A: The value added tax paid by wholesaler and retailer would be the net taxes that is output tax minus…
Q: A retailer obtains a 21% retail discount, a 15% wholesale discount and 5% volume discount. The…
A: Net Price For Calculating the Net Price after discount first to taken the Discounted Price and…
Q: What was the trade discount rate if items sold with a list price of $7,150 were sold at a net price…
A: Trade discount = list price - net price = $7,150 - $5,420 = $1,730
An item listed at $100 is subject to the discounts of 20%, 10% and 5%. Determine the net price.
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- If a retailer purchased inventory in the amount of $750, terms 2/10, n/60, returned $30 of the inventory for a full refund, and received an allowance for $95, how much would the discount be if the retailer remitted payment within the discount window?You buy goods at a list price of $1,100. If you receive a trade discount of 30% and terms are “2/15, n/45,” what amount must you pay if you pay within the discount period?The full amount of purchase is P530. If a cash discount of 10% is allowed, find the amount of the cash discount and the net amount to be paid. Round to the nearest centavo
- An item for 10,000, subject to a trade discount of 25%, is paid for within the discount period on terms 2/10, n/30. What is the amount of payment? P10,000 P7,500 P7,400 P7,350Given that an item is subject to a 20 percent trade discount, it's price is #1000. what is the sale pricePLEASE SHOW ALL WORK You buy goods at a list price of $820. If you receive a trade discount of 25% and terms are “2/15, n/30,” what amount must you pay if you pay within the discount period?
- GJ Office Supplies offers the following discounts: Trade discounts of 10% at list price and another cash discount of 5% if paid in full before the due date. How mush is to paid if a customer pays before due date at a list price of P62,000.If a retailer purchased inventory in the amount of $680, terms 3/10, n/60, returned $120 of the inventory for a full refund, and received an allowance for $70, how much would the discount be if the retailer remitted payment within the discount window?If a customer purchased merchandise in the amount of $340, terms 3/10, n/30, returned $70 of the inventory for a full refund, and received an allowance for $65, how much discount would be applied if the customer remitted payment within the discount window?
- A television set listed at RM 5000 is given a trade discount of 25%. Calculate the A) amount of discount B) net priceThe net price of an item after trade discounts of 34.00%, 13.00%, and 3.50% is $3,520.00. a. Calculate the regular selling price of the goods. $0.00 Round to the nearest cent b. Calculate the equivalent discount rate of the series of discount rates. 0.00 % Round to two decimal placesWhat is the regular selling price of an item purchased for $1270 if the markup is 20% of the regular selling price?