When offered with single trade discounts or discounts series, would you avail of them right away?

Q: Give Example of Swap Office for Retail?

A: An essential objective of the Commodity Futures Modernization Act of 2000 was to supply a clear…

Q: Explain how does the trade credit is offered on open account.

A: Trade credit is the easiest and most important source of short-term finance available to businesses.…

Q: What is the difference between a sales discount and a purchases discount?

A: The term sales discount is used by the seller, and the term purchase discount is used by the…

Q: Explain the argument for and against the use of net price method with respect to purchase discounts?

A: The Net Price Method (NPM) provides information about the purchase discounts lost by the company and…

Q: Sales Returns and Sales Allowances. What are Sales Discounts? What are their respective normal…

A:

Q: Distinguish trade discounts and cash discounts.

A: Introduction: Discount: Discount is an expense to be shown in income statement. All expenses to be…

Q: How to calculate the list price? O a. List price = Amount of Discount/Rate of Discount O b. List…

A: Discount means the amount which is not required to be paid or received. Discount is deducted to find…

Q: Quantity discount grand to customers to encourage them to paid early O True O False

A: (1) The given statement is False.    Quantity discount : Quantity discount is also known as Trade…

Q: Down payment refers to a. A trade discount b. An installment payment C. A partial payment d. A cash…

A: The question is multiple choice question. Required  Down Payment refers to ?

Q: What is a sale on credit and why it is needed? Give three examples?

A: Sale on Credit: A sale on credit is revenue earned by a company when it sells goods and allows the…

Q: Trade discounts sometimes are taken on freight. Group of answer choices True False

A:

Q: Define Trade discounts.

A: Business:   It refers to a commercial activity involving buying and selling of a product or a…

Q: al credit sales ts purchasing ivable has shi agement a ye

A: Receivables outstanding = 1710000×23/365= $107,753 Payables outstanding = 1710000×49.56%…

Q: All of the following typically would be considered when estimated sellers cost except ------…

A: all of the above will be considered as estimated seller cost except " Pre payment Penalty"

Q: When offered with single trade discounts or discounts series, would you avail of them right away?…

A: Single trade discounts- are discounts that a supplier offers  to customers when  specific condition…

Q: If you are the seller will you provide discount for customers? Why or why not? What type of discount…

A: solution concept                 In the trade transaction ,the practice of giving and taking…

Q: If any discount is offered for early payment of invoice will be called as a. Cash discount b. Trade…

A: An early payment discount – also known as a prompt payment discount or early settlement discount /…

Q: When should a seller view a payment to its customer as a refund of part of the price paid by the…

A: Revenue recognition principle:   The revenue recognition principle refers to the revenue that…

Q: Trade Discount and Cash Discounts

A: Trade discount Purchase price * Rate of trade discount Purchase price $2,000 Rate of trade…

Q: What are the assumption of THE LIFO RETAIL METHOD?

A:

Q: Define discount percentage (credit)

A: The discount rate is the amount paid on debit and credit card payments to a dealer for payment…

Q: calculate the discount date and the net date for the transaction.

A: Given that the invoice terms are 2/10 , n/45 That is if the invoice is paid in 10 days we get a…

Q: What do you call to a document issued when you purchase or sold on account (credit basis)? 2. It is…

A: The accounting is a process to identify the business transactions, record the transactions and…

Q: The transaction price: A) Is always the price that competitors see. B) May include a trade…

A: Price: It implies to an estimated amount of money that acts as consideration in sale or purchase of…

Q: The following relate to trade discounts: 1. Trade discounts are given to customers to induce them to…

A: The trade discounts are the discounts given by the seller to attract the customers to purchase goods…

Q: A retailer pays for purchased merchandise within the discount window. The retailer would recognize…

A: Accounts Payable - Accounts Payable is the creditor for the company. Company owed some amount for…

Q: Use the ordinary dating method, calculate the discount and the net date for the transaction. date…

A: Facts: date of invoice - october 11 terms of sale  - 3/20,n/45

Q: Let's assume the merchandiser (buyer) pays after the discount period expires, how will the vendor…

A: The payment terms of Sports Emporium Sales is 2/10, n/30. It means if payment is done within 10 days…

Q: Why do businesses often offer "Sales Discounts" to their customers?

A: Sales Discounts -  Sales Discounts are the discounts given by the company to the customers. This…

Q: Sellers use two methods in practice that simplify the process of recording sales discount. What are…

A: Sales:   Sales is an activity of selling the merchandise inventory of a business.

Q: The journal entry for recording the unexpired discount is: Dr Bills discounted Cr Interest and…

A: Unexpired discount also known as rebate on bill discounted refers to the interest or discount for…

Q: What do you understand from trade and cash discount? How to calculate trade discount, cash discount…

A: A trade discount is provided by the supplier in the form of quantity discount to the customer. It is…

Q: To intensify the collection of receivables, Kate's Trading offered 2/10, n/30 to customers. What…

A: The discount is the benefits given by reduction in the amount to be paid.

Q: Describe the conditions that would make the use of advance-discounts appropriate.

A: Discount means a selling of goods or service below the price of goods. This reduction in price is…

Q: The buyer calls cash discount as a. Managing discount b. Purchase discount O c. Sales discount d.…

A: The buyer receives the discount on purchases.

Q: What is the difference between a sales discount, a sales return and a sales allowance?

A: A contra account is an account whose balance is opposite of the general or usual balance of that…

Q: or Discount and Direct Discount pricing, apart from who pays for the subscription?

A: You pay for the membership directly with the ProAdvisor discount and enjoy an ongoing discount. With…

Q: If a customer purchases merchandise on credit and returns the defective merchandise beforepayment,…

A: When customer made purchases on credit from the business, then one side it will generate accounts…

Q: For a stationery item store such as Al-Fikr, would you recommend transactional market-based…

A: Transactional marketing refers to a business strategy that focus on single, “point of sale”…

Q: When a seller receives payment from a customer who takes the discount for paying early, the journal…

A: When a  seller receives payment within discount period, cash account will be debited with accounts…

Q: The "Allowance for sales discounts" account may be used under Select the correct response: O Net…

A: Solution: Allowance for sales discount is used when sales discount is accounted for using estimates…

Q: If NetSolutions sells a customer some products on account (accounts receivable) and offers a…

A: A discount refers to amount deducted from the normal selling price.

Q: A cash (sales) discount is usually granted to all of the following except a. retail customers. b.…

A: Discount: It refers to the amount or percentage deducted from selling price of the goods at the time…

Q: The classification and normal balance of sales discount

A: The sales discount is the discount provided to customers, which decreases the value of sales…