FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Complete the following​ invoice, finding the net price using the single trade discount rate.
Qty
Item
Unit price
List price
3535
Notebooks
​$1.311.31
4545
Looseleaf paper
​$0.880.88
2525
Ballpoint pens
​$0.830.83
Total list price
3535​% trade discount
Net price
Fill​ in, rounding to the nearest cent as needed.
Qty
Item
Unit price
List price
3535
Notebooks
​$1.311.31
​$nothing

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  • buying and sellinga. A calculator is listed at P 859.50 and has a trade discount of 33 1/3 %; a) What is the amount of trade discount? b) What is the price paid for the calculator?b. ABC Company offers to fill an order for goods at P 25,800.00 less 25% and 25 %, terms n/30. On the other hand, XYZ Corporation offers P 25,000.00 less 35%, 3%, and 2%, terms 8/10, n/30: on the same order. Assuming that Mr Cruz will pay cash, which is the better offer?c. What is the total cash discount if an invoice dated March 31 for P 15,000 with a payment terms of 3/20; 1/30; n/60 is paid in full on April 20?d. A manufacturer bills a retailer P 25,000 for a brand new refrigerator, and further extends a trade discount of 18 %. What is the trade discount and the net price?e. The list price of a brand new flat screen tv set at Emcor is P 25,000. The item costs P 22,000. After negotiation the tv set was sold at 20,000. What are the initial markup price and the maintained markup price?
    Complete the following table: Note: Do not round net price equivalent rate and single equivalent discount rate. Round the dollar amounts to the nearest cent. Item list price chain discount net price equivalent rate (in decimals) single equivalent discount rate (in decimals) trade discount net price LG Blu-Ray player $198 8/6/4
    Suppose a certain appliance store purchases the following items. Calculate the extended total after the trade discounts for each line, the invoice subtotal, and the invoice total. (Round your answers to the nearest cent.) Quantity Unit Merchandise Unit List TradeDiscounts ExtendedTotal 150 ea. Blenders $49.95 20/15/15 $  4330.67 400 ea. Toasters $37.88 20/10/10 $  9818.50 18 doz. Coffee Mills $244.30 30/9/6 $   12 doz. Juicers $480.00 25/10/5 $   Invoice subtotal $   Extra  5 1 2 %  volume discount on total order − $   Invoice total $
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