Question 12 of 13A 42-inch Samsung television set costs Best Buy $400 less trade discounts of 40% and 20%. Best Buy maintains a60% margin on TV sets. During the Thanksgiving Day long weekend, Best Buy will be selling all TV sets for 6% offthe regular price. If you buy a 42-inch Samsung TV set during the sale, how much would you pay including the 13%tax?Round to the nearest cent if necessary

Trade Discount is the discount provided by the sellers to encourage buyers to make purchase of…

Answered: A 42-inch Samsung television set costs…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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The Garden Shoppe buys hedge trimmers from a wholesaler and sells them to customers at a retail price of $417.96 each. The Garden Shoppe earns a 37% markup on its cost for this hedge trimmer. Calculate The Garden Shoppe's cost for one hedge trimmer. (Rounding: penny.)
You sell $5 million dollars' worth of delivery trucks to Walmart on account and offer them a 2% discount if they pay within 15 days, with the invoice due after 45 days (2/15, n/45). Unfortunately, Walmart returns all of the trucks after one week because they discover that the model you sold them is not approved for use in California. Which of the following is part of the correct journal entry to make at the time that Walmart returns the trucks? DEBIT to Sales Returns of $5 million CREDIT to Sales Discount of $100,000 CREDIT to Accounts Receivable of $4.9 million CREDIT to Sales Revenue of $5 million
Verizon offers to sell cellular phones listing for $100.54 with a chain discount of 15/10/5. Cellular Company offers to sell its cellular phones that list at $104.09 with a chain discount of 25/5. If Irene is to buy seven phones, how much could she save if she buys from the lower-priced company? Note: Do not round intermediate calculations. Round all dollar amounts to the nearest hundredth. Round your final answer to the nearest cent. Amount saved
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Stork Enterprises delivers care packages for special occasions. They charge $35 for a small package, and $95 for a large package. The sales tax rate is 7%. During the month of May, Stork delivers 28 small packages and 41 large packages. A. What is the total tax charged to the customer per small package? What is the overall charge per small package? If required, round your answers to two decimal places. Total tax charged $_________ per small package Overall charge $_________ per small package B. What is the total tax charged to the customer per large package? What is the overall charge per large package? If required, round your answers to two decimal places. Total tax charged $__________ per large package Overall charge $__________ per large package C. How much sales tax liability does Stork Enterprises have for the month of May? If required, round your answers to two decimal places. $__________ D. What account is used to recognize this tax situation for the month of…
Stork Enterprises delivers care packages for special occasions. They charge $55 for a small package, and $85 for a large package. The sales tax rate is 7%. During the month of May, Stork delivers 48 small packages and 25 large packages. A. What is the total tax charged to the customer per small package? What is the overall charge per small package? If required, round your answers to two decimal places. Total tax charged $ per small package Overall charge per small package B. What is the total tax charged to the customer per large package? What is the overall charge per large package? If required, round your answers to two decimal places. Total tax charged $ per large package Overall charge per large package C. How much sales tax liability does Stork Enterprises have for the month of May? If required, round your answers to two decimal places. $ D. What account is used to recognize this tax situation for the month of May? Sales Tax Payable E. When Stork remits payment to the sales tax…
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