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

Q: Garden Co. uses the installment sales method. Garden Co. sells a good costing ₱10,000 for an…

A: Gross profit is the benefit procured by the organization from working exercises. Backhanded costs…

Q: Suppose a certain car manufa "selling models offers a $8,000 extra dealer incentive for eaci these…

A: AMOUNT OF THE TRADE DISCOUNT , INCLUDING THE INCENTIVE : PARTICULATR AMOUNT AMOUNT PRICE 26500…

Q: Buzz Machinery, a wholesaler, buys hedge trimmers from a manufacturer for $376.24 each and sells…

A: Sale price = Cost price / ( 1 - Margin value )

Q: eaner and sels each What is the percent markup based on selling price? Shurgurado Lhines decided to…

A: a) Calculation of percent markup = (4499.5 - 1,875) ÷ 4,499.5 = 58.33%

Q: Tracy Company, a manufacturer of air conditioners, sold 100 units to Thomas Company on November 17,…

A: ANSWER (3 - a)   DATE PARTICULARS DEBIT ($) CREDIT ($) 17 NOV , 2021 ACCOUNTS RECEIVABLE…

Q: Horner Company buys a delivery van with a list price of $3,000,000. The dealer grants a 15%…

A: Fixed assets are those assets which are being held by the business for longer period of time and all…

Q: appliance store realizes a mark-up of php3,450 in selling tv sets. if its items are sold at a…

A: Mark-up is the amount of profit on the particular good. The mark up is the difference between the…

Q: Boeing Truck Company received an invoice showing 12 tires at $114 each, 16 tires at $164 each, and…

A:

Q: Muscat Electronics purchased 400 Galaxy mobile phone at RO 70 each from Sohar Electronics. The…

A: The amount paid by customer is deducting the discount from the invoice value.

Q: shoe store marks up the price of its shoes at 140% over cost. A pair of shoes goes on sale for 20%…

A: The answer is as fallows

Q: A shopkeeper sells an article at its marked price RO 7500 and charges sales-tax at the rate of 12%…

A: Formula: Tax amount = Tax percent x sale value Multiplying tax percent with sale value derives the…

Q: Yummy Candy Company offers a coffee mug as a premium for every ten 50-centavo candy bar wrappers…

A: Liabilities - It is kind of financial obligation of the company over a particular period of time.

Q: Brimstone Co. purchased 1,865 items at $8.24 each less trade discounts of 26%, 12%. On August 27,…

A: Trade discount is the discount offered to encourage the buyer to purchase the item in bulk quantity.…

Q: Headland Company sells goods to Sage Company during 2017. It offers Sage the following rebates based…

A: Revenue = Gross sales price - Rebate

Q: In 2021, SUGA Company sold 485,000 boxes of cereals under a new sales promotional program. Each box…

A: Introduction - Companies use coupons, discounts, rebates, etc. to increase the sales of their…

Q: Mel's Furniture received an invoice dated September 27 for 5 bedroom sets at $3,000 each. The…

A: The net payment made by the buyer to the seller is the invoice amount after reducing all the returns…

Q: The NULL Corp. is engaged in a sales promotion, giving a rebate of P4.00 for every food box…

A: Estimated total liability = no. of boxes sold x 80% x rebate per box = 50000 x 80% x P4 = P160,000

Q: A specialty shop procures several antique clocks for $5,000 apiece and offers them to customers for…

A: Markup is the amount of profit added to the product in order to calculate selling price per unit.

Q: Eveready Co. sells heavy-duty batteries, which cost P7,000, at a total installment price of P12,000.…

A: Trade-in over allowance Trade-in over allowance is the additional discount offered to the customer…

Q: A bookshop had 650 copies of a book IUI sale. The books were marked at N75 per copy in order to make…

A: Profit portrays the money related advantage acknowledged when income created from a business action…

Q: Nicolas Appliance Center has purchased electric fans for Php 800 each The electric fans are marked…

A: The markup is the difference between the selling price and cost price of a product. Markup…

Q: Kurt Company purchased $5,000 of merchandise from Marilyn Company with terms of 2/10, n/40. What…

A: Step 1 Discount is a benefit made available to the buyer by the seller for making payment against…

Q: Equate Inc. sells products with a cost of $25,000 during the year to customer for $55,000. It is…

A: It is pertinent to note that variable consideration need to be included in the transaction price.…

Q: Maningkamot ko permi makapasar sports wear regularly buys sweaters from BSA Company and its allowed…

A: Cost of the purchase = List price - Trade discount + Freight charges where, Trade discount = List…

Q: Cover Rugs is holding a 2-week carpet sale at Josh’s Club, a local warehouse store. Cover Rugs plans…

A: Computation of break-even: Option 1: Compute contribution margin per unit: Contribution per unit =…

Q: (Discounts) Fahey Company sells Stairmasters to a retailer, Physical Fitness, Inc., for $2,000,000.…

A: Requirement a:   Revenue amount (Using gross method): 52,000,000.   Revenue amount (Using net…

Q: J.C. Penney of Boston sold office equipment for $12,000 to Lee's of San Diego. Terms of the sale are…

A: 3/10, n/30 refers that 3% discount is provided if payment is made with in 10 days and final payment…

Q: PT Bumi ordered 20 sets of tables and chairs to PT CBA. Price set per unit of Rp 5,000,000 with 10%…

A: Accrual method: Under this method of revenue recognition, revenue is recorded in the company’s books…

Q: The Georgia Company sells inventory but also allows returns. Georgia sells items for $100 per item.…

A: The transaction, which is measurable in monetary terms, is an economic event with a third party…

Q: Brown crop sells TV products. In order to attract more consumers, Brown corp offers 1 unit of bag…

A: Explanation below

Q: Serpent Home Depot carries wide variety of promotional techniques to attract customers. Kitchen and…

A: Solution Warranty Expense is the cost that a business Expects to or has already incurred for the…

Q: Crane Company buys a delivery van with a list price of $55000. The dealer grants a 12% reduction in…

A: Solution: Cost of the assets are recorded at the purchase price net of any discounts and also…

Q: Pine Company offers a coffee mug as a premium for every ten P2.50 candy bar wrappers presented by…

A: Answer -  Premium Liability -  Premium Liabilities “refer to all future claim payments and related…

Q: Mahrouq Technologies buys $13,431,550 of materials (net of discounts) on terms of 4/30, net 60, and…

A: Additional financing means the amount which a firm is required to borrow from outside for the…

Q: Fahey Company sells Stairmasters to a retailer, Physical Fitness, Inc., for $2,000,000. Fahey has a…

A: Generally Accepted Accounting Principles:   GAAP (Generally Accepted Accounting Principles) is a…

Q: A discount store purchased mobile phones at a cost of P28,800 per dozen. If they need 20% of cost to…

A: The difference between selling price and cost price is the mark up cost.

Q: On August 5, John's furniture makes a purchase of $3200 for chairs from a wholesaler. The purchase…

A: This question deals with the concept of discount for early payment for purchase. There is various…

Q: Garden Co. uses the installment sales method. Garden Co. sells a good costing ₱10,000 for an…

A: Gross profit is the benefit procured by the organization from working exercises. Backhanded costs…

Q: A wholesaler sells a guitar for $1,380.60. What is the percent markup based on cost if the…

A: Markup = Sell price - buy price Markup = $1380.60 -$780 Markup =$600.60

Q: Luke sells machines, and also offers installation and technical support services. The individual…

A: In the question, Company X has purchased a machine. Thus it is assumed that the package of products…

Q: Backyard World buys plastic pools from a supplier with an invoice amount of $15,500. The terms of…

A: Total invoice payment made =  partial payment made / (1 - discount rate) = $8,300 / (1 - 0.05) =…

Q: Purcell Export received an invoice dated August 21 from Dutch Specialties of Amsterdam with terms…

A: First We need to calculate invoice Amount then calculate Amount paid to make remaining balance to…

Q: Appliance Store realizes a mark-up of PHP3,450 in selling TV sets. If its items are sold at a…

A: Mark-up is the difference between the selling price and the cost price. The mark-up percentage on…

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: On March 1, Bates Board Shop sells 300 surfboards to a local lifeguard station at a sales price of…

A: Credit terms 3/15, n/30 means that customer will get a discount of 3% if payment is being made in 15…

Q: Yummy Candy Company offers a coffee mug as a premium for every ten 50-centavo candy bar wrappers…

A: a) Premium Expense for 2004 = (3,800,000+2,600,000)/10 x (P 0.90+P 0.60- P1.00) = P 320,000 Premium…

Q: A manufacturer offers a 25/20 c discount if the invoice subtotal is $1,000. If the list price is $52…

A: Companies gives discount to attract the sales and increase the sales of company but that is the cost…