1. A watch store owner decided to offer 20% discount for a particular brand of watch that sells at P35.000.00. By doing so, his average sales increased from 5 watches to 12 watches a day. If he bought one watch at a price of P22,000.00 from the supplier, by how much was his daily profit increased or decreased by offering such discount on the watch? 2. Michelle went to Baguio and bought 20 jars of strawberry jam for P3,500.00 with 1 5% discount. When she got back to Manila, she sold 10 of the jars for a total of P1,800.00and the rest as P185.00 each. How much profit did Michelle again?
1. A watch store owner decided to offer 20% discount for a particular brand of watch that sells at P35.000.00. By doing so, his average sales increased from 5 watches to 12 watches a day. If he bought one watch at a price of P22,000.00 from the supplier, by how much was his daily profit increased or decreased by offering such discount on the watch? 2. Michelle went to Baguio and bought 20 jars of strawberry jam for P3,500.00 with 1 5% discount. When she got back to Manila, she sold 10 of the jars for a total of P1,800.00and the rest as P185.00 each. How much profit did Michelle again?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:15. Preparation & presentation of the firtancial statements of the entity is
the primary responsibility of an accauntant,
Additional Activities
After learning how to compute the gross prcfit at least you have learned now
how to do it by your own. Solve and compute tha fotowing:
1. A watch store owner cecided to offer 20% discount for a particLfar brand of
watch that sells at P35.000.00. By doing so, his average sales increased from
5 watches to 12 watches a day. If he bought one watch at a price of
P22,000.00 from the supplier, by how much was his daily profit increased or
decreased by offering such discount on the watch?
2. Michelle went to Baguio and bought 20 jars of strawberry jam for P3,500.00
with 1 5% discount, When she got back to Manila, she sold 10 of the jars for a
total of P1,800.00and the rest as P185.00 each. How much profit did Michelle
again?
Transcribed Image Text:15. Preparation & presentation of the firtancial statements of the entity is
the primary responsibility of an accauntant,
Additional Activities
After learning how to compute the gross prcfit at least you have learned now
how to do it by your own. Solve and compute tha fotowing:
1. A watch store owner cecided to offer 20% discount for a particLfar brand of
watch that sells at P35.000.00. By doing so, his average sales increased from
5 watches to 12 watches a day. If he bought one watch at a price of
P22,000.00 from the supplier, by how much was his daily profit increased or
decreased by offering such discount on the watch?
2. Michelle went to Baguio and bought 20 jars of strawberry jam for P3,500.00
with 1 5% discount, When she got back to Manila, she sold 10 of the jars for a
total of P1,800.00and the rest as P185.00 each. How much profit did Michelle
again?
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VIEWStep 2 1) a) Computation of earn profits per day before the given discount
VIEWStep 3 1) b) Computation of earn profits per day after given the discount
VIEWStep 4 1) c) Computation of Increased or decreased in profits after given discount
VIEWStep 5 1) Answer
VIEWStep 6 Working note
VIEWStep 7 2) Computation of Michelle Profits when sold the Jars of strawberry Jam
VIEWStep 8 Answer
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