Answered: Hybe Edu announced that BLACKPINK's… | bartleby

Cornerstones of Financial Accounting

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter5: Sales And Receivables

Section: Chapter Questions

Problem 80APSA

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2. Hybe Edu announced that BLACKPINK's
exclusive Korean textbook "BLACKPINK IN
YOUR KOREAN" will be released on March 3,
2022, it will sell 30,000 in the market with a
5% Trade discount given exclusively for the
fans. Calculate the
a) Amount trade discount
b) Net Price (Using Complement Method)

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1. Maningkamot ko permi makapasar sports wear regularly buys sweaters from BSA Company and its allowed trade discounts of 20%, and 10% from the list price. Maningkamot ko permi made a purchase during the year and receive an invoice with a list price of P600,000, a freight charge of P15,000 and payment terms and 2/10, n/30. What is the cost of the purchase?
Backyard World buys plastic pools from a supplier with an invoice amount of $15,500. The terms of the sale are 5/10, n/30. If the retailer sends a partial payment of $8,300 on the discount date, what is the net amount still due? $6,763.16 $6,840.00 $7,200.00 $8,736.84
On June 1, 2021, Pitt Company sold merchandise with a list price of P5,000,000 to Burr on account. Pitt allowed trade discounts of 30% and 20%. On June 11, 2021, the customer paid in full. Credit terms were 2/10, n/30 and the sale was made FOB shipping point. Pitt prepaid P200,000 of delivery costs for Burr as an accommodation. 1. What amount should be reported as sales revenue? a. 5,000,000 b. 2,800,000 c. 3,500,000 d. 2,500,000 2. What amount was received by Pitt from Burr as remittance in full? a. 2,744,000 b. 2,940,000 c. 2,944,000 d. 3,140,000
On February 20, 2023, LIME COrporation sold merchandise with a list price of ₱ 150,000 to Durian on account. Lime allowed trade discounts of 30% and 20%. Credit terms were 2.15, n/40 and the sale was made FOB shiiping poiny. Lime prepaid ₱ 6,000 of delivery costs for Durian as an accomodation. What amount should Durian remit to LIME as full payment of March 7, 2023? A. ₱ 82,320 B. ₱ 88,200 C. ₱ 88,320 D. ₱ 94,200
Crossings Company regularly buys merchandise from Best Company and is allowed trade discounts of 20% and 10% from the list price exceeding P120,000. Crossings made a purchase on March 20, 2024, and received an invoice with a list price of P150,000, a freight charge of P2,500, and payment terms of net 30 days. REQUIRED: What is the total cost of merchandise purchases?
To increase sales, DD Company inaugurated a promotional campaign on June 30, 2020. DD placed a couponfor a premium in each box of cake sold at P400. A coffee mug costing P60 is offered as premium to customers who sendin 5 coupons and a remittance of P20. The distribution cost per premium is P10. DD Company estimated that only80% of the coupons issued will be redeemed. For the six months ended December 31, 2020, the following data isavailable in terms of units:Boxes of cake sold 20,000Premiums purchased 3,000Coupons redeemed 10,000What is the estimated liability for premiums on December 31, 2020?a. P180,000 b. P150,000 c. P160,000 d. P60,000
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?
A. On June 1, 2020, Eleno Buray Jr. Forest Products sold merchandise with a Php120,000 list price. Trade Discounts Credit Terms Date Paid a. 30% 2/10, n/30 June 8 b. 40% 1/10, n/30 June 15 c. - 2/10, n/30 June 11 Required: For each of the sales terms, determine the following: a. The amount ofrecorded saleb. The amount ofcash received upon payment
Jump & Play Inc. sold 10 outdoor playsets to BigMart Co. The playsets are listed at $1,500 each; Jump & Play offered a trade discount of 10% to BigMart Co. BigMart Co. retails the playsets to customers at a price of $1,800. If Jump & Play sells the playsets to BigMart on account, what is the receivable per playset that Jump & Play should record? Question 4 options: $1,800 $1,350 $1,500 $1,620
2. RNB Co. bought some items and was given trade discounts of 15% and 10%. The company received an invoice dated 18th April 2015 with cash discount terms of 5/10, 3/15, 2/20 and n/30. On 2nd May 2015 the company padi RM5,513.80. No use excel. a) Find the single trade discount rate equivalent to the given trade discount rates. (23.5%) b) Find the list price of items. (RM7430.50)
Xoiswa Company manufactures a product that is packaged and sold. A plate is offered to customers sending in three wrappers accompanied by a remittance of P10. Data with respect to the premium offer are summarized below: 2018 2019 Sales 3,600,000 4,200,000 Purchase of premium, P50 per plate 390,000 580,000 Number of plates distributed as premiums 5,000 9,000 Estimated number of plates to be distributed in next period 2,000 3,000 Distribution cost P20 per plate What is the premium expense for 2019?
Sharma Kennels buys some items with a list price of $4,700. The supplier extends a 40% trade discount rate. What is the net price (in $)? $

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