Answered: A washing machine is listed at RM2,069…

A washing machine is listed at RM2,069 with a discount of 25%. What additional discount must be offered to the customer to bring the net price to RM1,429.90? (7.852%)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: A retailer received an invoice for the purchase of twenty rackets at RM140 each. He was given trade…

A: Retailers and wholesalers want to know the one single discount rate that equates to a series of…

Q: Would you please help me with this The BEV Toy Shop purchased 50 wagons at $45 per wagon less a…

A: Compute reduced list price per wagon as follows:

Q: Suppose a certain car audio manufacturer receives an order of a certain brand of satellite radios…

A: Trade discount: It is the reduction in the retail price when manufacture sell product to the…

Q: Patel Supply is considering a contract to sell merchandise to a hair salon chain for $29,000. This…

A: The objective of this question is to calculate the increase or decrease in Patel Supply's gross…

Q: Give true calculation

A: Step 1: Introduction to the Sales DiscountA sales discount is a percentage of the total purchase…

Q: Show Work.

A: In this question, we have to calculate the trade discount Trade discount refers the discount which…

Q: Provide correct calculation

A: Reference:Bragg, S. (2023, December 12). Accounting for sales discounts — AccountingTools.…

Q: Azza Sdn Bhd has recorded the following transactions in month of May 2020. 1/5/2020 -…

A: Sales book is the one which is prepared for recording the credit sales of an entity. Here, credit…

Q: B. Give the journal entry to be made in the books of the purchaser, if the account to be debited is…

A: Accounting books: The various books drafted to carry out the accounting process are called as…

Q: Skis are listed by a manufacturer for $880, less trade discounts of 35% and 17%. What further rate…

A: Trade discount are generally given by the seller at the time of purchase of goods. it is reduction…

Q: A retailer purchased an item from the wholesaler for OMR 1000. If the retailer sells the same item…

A: Purchase price of retailer = OMR 1000 Sales price of retailer = OMR 1500 Tax rate = 10%

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: A retailer sells a product at a price of 120 OMR. He purchased the same product from a wholesaler at…

A: Given, Sells Price = 120 OMR Purchase Price = 95 OMR Sales Tax = 6%

Q: A company sells goods on credit. On one sale, they sold it for $20,000 and offered a 2/10, net 30…

A: Given that, Selling price =$20,000 Discount scheme = 2/10,net 30 payment Because of complaint given…

Q: 3. Ms. Raheema purchases goods with a list price of RO 30,000. The supplier offers a 10 % trade…

A: Lets understand the basics. There are two type of discounts are there which are, (1) Trade discount…

Q: A flat TV which was listed at P 21,000 was offered to a customer for P 17,800. Find the rate of…

A: Trade discount rate is the rate by which manufacturer of a product reduce price of that product.…

Q: McEwan Industries sells on terms of 3/10, net 40. Total sales for the year are $1,912,500; 40% of…

A: Days Sales Outstanding (DSO) is a term used to describe the average time it takes for a business to…

Q: furniture store bought some bookcases at $79 each, after a trade discount of 55%. What was the list…

A: Price you pay = list price(1- discount) List price is full price without providing any discounts.…

Q: Towards the end of winter, a distributor is selling its leather jackets that were listed for $500…

A: The trade discount is an reduction in the listed price of a product or service offered by a seller…

Q: Within 10 days following a sale, a company receives payment of a $20,000 account receivable with…

A: Sales discount = Accounts receivable x rate of discount

Q: Boeing Truck Company received an invoice showing 12 tires at $114 each, 15 tires at $157 each, and…

A: An account payable is defined as the amount a business owed for purchases they made on credit. they…

Q: The company offers a 6% discount if paid in cash. How much is savedby paying cash?

A: Corporate finance is referred as the decision of the firm to take capital investments and other…

Q: Suppose a certain car audio manufacturer receives an order of a certain brand of satellite radios…

A: As posted multiple sub parts we are answering only first three sub parts kindly repost the…

Q: Sharma Kennels buys some items with a list price of $4,700. The supplier extends a 40% trade…

A: Calculate discount amount: Discount amount = list price * trade discount rate Discount amount =…

Q: Suppose a certain car audio manufacturer receives an order of a certain brand of satellite radios…

A: There are three consecutive discounts are given here, the ne price factor can be calculated by using…

Q: Give true answer

A: Analyzing the Cash Proceeds from a Credit SaleIntroductionIn business transactions, credit sales…

Q: How much will the Christopher Corporation have to pay for the merchandise if it pays on September 3?…

A: The company purchases materials from its suppliers. It also purchases on account and sometimes the…

Q: Kumi Ltd permits its customers to pay with a credit card or to receive a percentage discount � for…

A: Present Value of each alternative should be same for indifferent decision. Present value is…

Q: The net price of an item after trade discounts of 15% and 8% was RM1,955. Find: a) the list price b)…

A: List Price can be calculated as per the formula given below List Price = Gross Price - Trade…

Q: 5. Ativat Company purchases goods for OMR 18,000 from the supplier and makes payment along with VAT,…

A: given that, Company purchased goods for OMR18000 along with VAT The company realizes OMR25000 By…

Q: A clothing merchant purchases a shipment of clothes for $37,000.00 with discounts of 11% and 5%. He…

A: The net purchase price is the actual cost paid by a buyer for a product or service after deducting…

Q: 4. Ms. Raheema purchases goods with a list price of RO 30,000. The supplier offers a 10 % trade…

A: Trade discount =List price of goods × Trade discount rate=RO 30,000 × 10%=RO 3,000 A) Amount paid…

Q: 3. Ms. Raheema purchases goods with a list price of RO 30,000. The supplier offers a 10 % trade…

A: solution given List price 30,0000 Trade discount 10% Cash discount 2.5% if paid…

Q: 4. The total current amount due to a purchate made by using credit card is PS4,245.50. Based on the…

A: Here in this question, we are require to prepare credit card payment schedule. When any amount…

Q: 4. Foster Supplies is considering a contract to sell merchandise to a hair salon chain for $49,000.…

A: Gross profit means the difference between the sale revenue and cost of goods sold where as operating…

Q: Jump & Play Inc. sold 10 outdoor playsets to BigMart Co. The playsets are listed at $1,500 each;…

A: Receivable will be recorded at the listed price less trade discount.

Q: On June 1, Entity A sold Product XX2 for P50,000 with a cost price of P30,000. Credit terms is 2/10,…

A: Gross profit seems to be the profit a company generates after deducting all costs associated with…

Question

9. A washing machine is listed at RM2,069 with a discount of 25%. What additional discount must be offered to the customer to bring the net price to RM1,429.90? (7.852%)

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

VIEW

Step 2

VIEW

Step by step

Solved in 2 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, accounting and related others by exploring similar questions and additional content below.

Similar questions

A retailer ordered 20 sets of dining table and received an invoice dated 25 March 2009 for RM15,000 including the transportation cost with cash discount terms of 7/15, n/30 and trade discount 8% and 4%. The transportation cost was RM1,584. i) Find the last date to receive the cash discount. ii) Calculate the net price for 20 sets of dining table. iii) Determine the total payment if the retailer pays the invoice on 8 April 2009
A restaurant purchased a shipment of potatoes for $150 less discounts of 13%, 6%, and 2%. a. Calculate the equivalent discount rate that represents these three discounts. Round to two decimal places b. Calculate the net price of the shipment. $ Round to the nearest cent
Buttons and Bows received a shipment with a list price of $2,600. The store received a trade discount of 25/15. How much does the store need to pay for this shipment?
a clothing store accecpted a debit card payment for $127.49 in merchandise. The commission charged was 75 cents plus 1.4%. How much did the store actually recieve?
A " S Activity No. 4 A builder gets a trade discount of 1.25% and (3% -10days) on goods retailing for QR173,400. How much does he pay if paid after 12 days Activity No. 5 At September,5,2019 A builder gets a trade discount of 2.5% and (2/10) on goods retailing for QR550,000. How much does he pay if paid in Sep,15,2019? Activity No. 6 At 1/2/2021 A builder gets a trade discount of 2.25% and (3.5/8) on goods retailing for QR40,400. How much does he pay in 10/2/2021?
Computers and More offers discounts to its customers and allows the customer to return the product if not satisfied. Computers and More had sales of $850,000 and offers the customer a payment term of 3/12 n/30. The company received $15,000 in returned goods. The cost of goods sold for the period after returns was $320,000. Calculate net profit and gross profit.
A couch is priced at $980.00 if bought for cash. On the stores installment plan, a down payment of $100 and 24 payments of $45 each are required. What is the finance charge?
2 A storekeeper bought merchandise for $2940. If she sells the merchandise at 16% above cost, how much gross profit does she make? Her gross profit is $ (Type an integer or a decimal)
5. Alivat Company purchases goods for OMR 18,000 from the supplier and makes payment along with VAT, The Company realizes OMR 25,000 by selling those goods and charges VAT from customer. What will be the VAT amount that is forwarded by the supplier of the company to the government when VAT rate is 9%? A. OMR 1,620 B. OMR 630 C. OMR 2,250 D. OMR 2,880
I purchased goods on account for 8,200, terms 1/10, n/30. I returned $1,700 of the goods and received full credit. If I pay the invoice within the discount period, what is the amount of cash required for the payment? Round the answer to the nearest dollar.
7. Previous attempt 4. Campus Stop is considering a contract to sell merchandise to a campus organization for $21,000. This merchandise will cost Campus Stop $13,800. What would be the increase or decrease to Campus Stop's gross profit and gross profit percentage? TIP: The impact on gross profit (a dollar amount) may differ from the impact on gross profit percentage. (Round "Gross Profit Percentage" to 1 decimal place.) Gross Profit increased by $ Gross Profit Percentage decreased to References eBook & Resources 13,800 You did not re- 34.3 %
Which of the following interprets the interest coverage ratio of RED Merchandising? It takes 3.2 times to earn the interest charges payment. It takes 2.9 times to earn the interest charges payment. It takes 3.9 times to earn the interest charges payment. It takes 2.6 times to earn the interest charges payment.