Answered: A hardware store purchased a tool at…

A hardware store purchased a tool at P20,000 per unit. At what price should the tool be sold so that giving a 15% discount, will provide them with 25% profit?

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter21: Supply Chains And Working Capital Management

Section: Chapter Questions

Problem 10MC

See similar textbooks

Related questions

Q: Cost Item 1 Bicycle tires and wheels. 2 Wages of assembly worker*. 3 Advertising 4 Production…

A: Product costs indicate the expenses associated with the business product and changes with respect to…

Q: Dorel Company is being purchased and has the following balance sheet as of the purchase date: $…

A: Net assets of Dorel = Current assets + Fair value of fixed assets - fair value of current…

Q: Stock issued and outstanding for Cowboy Ice Cream (CIC) at January 1, Year 2 is listed below:…

A: The dividend is declared and paid from the net income of the current year and retained earnings of…

Q: At what nominal rate compounded semi-annually will PhP5,000 amount to PhP6,000 in 2 years? A) 9.54%…

A: Nominal Rate of Interest: The nominal rate of interest represents the rate of interest that does…

Q: Question 6 Peter started to deposit PhP5,000 quarterly in a fund that pays 1% compounded quarterly.…

A: formula. Future value of annuity = PMT * [(1+r)n - 1]r where , PMT = periodic deposit r= interest…

Q: kindly help me solve the question attached thanks

A: 1)As a young entrepreneur, my success is influenced by both inherent qualities and those developed…

Q: On November 15, 2010, Abar Corporation acquired Rapids, a Company that operates a scenic railway…

A: Impairment means the reduction or decline in value of asset because of negative changes in the…

Q: You were able to gather the following from the December 31, 2020 trial balance of Should Corporation…

A: Adjusted cash on hand is calculated after deducting the amounts that shouldn't be included in it for…

Q: What amount must be deposited by a 15-year old student in a bank that pays 1% compounded annually so…

A: Discounting is a technique to arrive at the present equivalent amount of future cash flow. With the…

Q: Complete the following process account of Lei Manufacturing Company by supply the peso amounts of…

A: The equivalent units are calculated on the basis of percentage of the work completed during the…

Q: Attitude Realty Partnership Angas, Sunget, and Pabebe are partners in Attitude Realty company. Their…

A: The partnership comes into existence when two or more persons agree to do the business and further…

Q: [The following Information applies to the questions displayed below.] DurIng January, Central…

A: solution : cash Beg.…

Q: Question 17 Mr. Yuson obtained a 20-year mortgage for PhP 2,200,000. If his monthly payment is PhP…

A: concept. Total interest paid = Total amount paid - amount of loan.

Q: Refozar, Martinez and Magsino förmed a parthership. The profit-sharing arrangements are as follows:…

A: Partnership business means where two or more person comes together to do the business and share the…

Q: Complete the following for the present value of an ordinary annuity. (Do not round intermediate…

A: Compound = quarterly = 4 Annuity = a = $15,400 Time = t = 5 * 4 = 20 Interest rate = r = 10 / 4 =…

Q: Find i (the rate per period) and n (1

A: Introduction: The rate of interest can be defined as a rate which is charged as a proportion of the…

Q: . A fixed capital investment of P12M is required for a production plant and an estimated working…

A: Rate of return(ROR) is the return generated from project. It can be calculated by dividing annual…

Q: How long will it take PhP15,000 to earn PhP5,000 if it is invested at 12% monthly?

A: The total number of compounding periods can be calculated using the NPER Function in excel. The…

Q: ng is Telinig inom the the accountant na posted the revaluation and closing entries, the credit…

A: The partnership comes into existence when two or more persons agree to do the business and further…

Q: Determine the amount of a semi-annual coupon paid for a 3% bond with a face value of PhP80,000 which…

A: Interest on Bonds : Interest on Bonds is paid periodically as per the term of the bonds issue…

Q: that particular year? Take ross income for oil as 22%.

A: Pay as you earn system or tax deduction at source in some countries are the advance tax payment…

Q: Question 8 How much should be invested in a fund each year paying 2% coumpounded annually to…

A: Present value The current value of the future investment is known as the present value of the…

Q: NOREEN INC, a truck dealer, sells a truck on January 1, 2019, to MENDOZA INC for P3,000,000. NOREEN…

A: The interest expense for Noreen Inc. would be computed on the compounded value of the asset's…

Q: Simplifying the ABC System: TDABC Golding Bank provided the following data about its resources and…

A: Disclaimer: As per instruction of question we have to solve question 2 Activity-based costing…

Q: 6. Entity A acquires an investment property for P1,000,000 cash. Additional costs incurred are as…

Q: Sugondese Hardwood Polishing needs to raise additional debt capital in order to expand its services…

A: Computation:

Q: 1. What is the correct net sales for the year? 2. What is the correct cost of sales for the year? 3.…

A: You have asked four sub-parts of the question but as our protocol is to solve first three sub-parts…

Q: 6. On January 1, 20x1, Entity A acquires a building to be held as investment property for a total…

A: Depreciation under straight line method = (Historical cost - Salvage value)/Useful life

Q: the impact (if any) on the Accounting Fauation: [ Choose ] Assets increased and Liabilities…

A: Assets = Liabilities + Stockholders' Equity Any expense paid in advance is an asset.

Q: The Diversified Portfolio Corporation provides investment advice to customers. A condensed income…

A: Statement of Cash Flows :— It is one of the financial statement that shows change in cash and cash…

Q: en Thumb Nursery has 47,000 shares outstanding at a market price of $63.45 per share. The 000.…

A: EPS is an important indicator of a company's financial health, as it can provide insight into the…

Q: the periodic payment of each of the following: No. of Payments Deferred Payments Present Value Rate…

A: Present value can be equalized by uniform equivalent payments over the period of time.

Q: Beta is defined as the: a. Amount of systematic risk in a risky asset relative to that in an…

A: Beta is an important concept in finance and important models such as capital asset pricing model…

Q: On January 1, 2017, Svenberg Inc.'s Stockholders' Equity category appeared as follows: Preferred…

A: As per dual concept of accounting, every transaction has dual impact on the books of accounts.…

Q: Question 18 A business loan of PhP 650,000 is to be settled by paying PhP 29,994.20 monthly in 2…

A: The balance of loan remaining after 6 payments can be simply calculated by using a single formula;-…

Q: Question 16 A car dealer offers 15% down payment for the purchase of a car. How much is the…

A: MORTGAGE Mortgage is a type of Loan. Mortgage is always a Secured Loan. Mortgage is an agreement…

Q: Use the following information for the next three questions: Entity A determines an indication that…

A: Impairment of assets means reducing the book value of assets when carrying amount is more than…

Q: Discuss the factors that accountants should consider when setting up company accounting policy…

A: Accounting Policy- Accounting policies are the specific principles, foundations, conventions, rules,…

Concept explainers

Trade Credit

Answer- a- Before Shipping of goods

Question

Could you please answer the quesion below and show solution. THanks!

A hardware store purchased a tool at P20,000 per unit. At what price should
the tool be sold so that giving a 15% discount, will provide them with 25% profit?

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

Step 2

Step 3

Step 4

Step by step

Solved in 4 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, finance and related others by exploring similar questions and additional content below.

Similar questions

A computer was put on sale by the store owner. A trade discount of 30% is given to any buyer but still, the store will realize 25% margin. If the computer has a tag price of P41, 550, What should be its cost?
Faster Stationery would like to sell a box of gel pens at the price of RM45. There are 12 gel pens in a box. The operating expenses are RM1.50 for a gel pen. If the company want to have 25% of net profit based on cost, a) Find the cost of a gel pen. b) Determine whether there is any profit or loss incurred if the company want to sell a box of gel pens at RM42.
1.An electronic toothbrush was bought for RM200. If the dealer wants 30% markup based on selling price, find the selling price and the gross profit. 2. The net price of a smart TV with a 15% trade discount is RM4,675. Find the list price.
Solve what is asked and show detailed solutions. 1. A watch store owner dcided 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 watcher to 12 watches a day. if he bought one watch at a price of P22,000.00 fom the supplier, bw how much was his daily profit increased or decreased by offering such discount on watch?
i want answer of this question please provide
You bought 1000 pcs. bottles with the price of P13 pesos each, so you paid the supplier of the bottles. You sold 400 pcs. ballpens. How much is the cost of good sold?
a. For how much does Nicolas Appliance Center sell an electric fan? 2. Nicolas Appliance Center has purchased electric fans for Php 800 eac The electric fans are marked up 48% of the selling price. b. What is the rate of markup based on cost?
As shown below, a shop purchases and sells a certain type of product. Purchasing price : $10 per unit Selling price : $15 per unit Fixed cost : $1,000 How many units are sold at a “break even” point, where there is neither a profit nor a loss?
The retailer price of a refrigiretor is £807. If the manufacturer gains 11%, the wholesale dealer gains 10% and the retailer gains 6%, what is the cost of the product? Round your answer to the nearest penny.
A wholesaler sells a guitar for $1,427.40. What is the percent markup based on cost if the wholesaler paid $780 for the guitar? % Need Help? Read It Watch It Master It
A nut seller bought 15 kgs of cashew nuts at P215.00 per kilogram and 12 kgs of pili nuts at P336.00 per kilogram. How much per kilogram should the nuts be sold for the nut seller to gain a profit of 18%? 00.061
Buyer A bought 20 pcs of product Z from Seller B with the following information: Selling price, P1,500 each. With terms 20,10,5/15/ n/30. Transport cost is P10 per unit. If the payment is made on the 20th day.1. how much will Buyer A pay the seller when the term is FOB Destination Prepaid?2. how much will Buyer A pay the seller when the term is FOB Shipping Point Prepaid?3. how much will Buyer A pay the seller when the term is FOB Destination Collect?