A watch store owner decided to offer a 20% discount for a particular brand of watchthat sells at PhP 35 000. By doing so, his average sales increased from 5 watches to 12 watches a day. If he bought one watch at a price of PhP 22 000 from the supplier, by how much was the daily profit increased or decreased by offering such discount on the watch?​

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question

1.

A watch store owner decided to offer a 20% discount for a particular brand of watchthat sells at PhP 35 000. By doing so, his average sales increased from 5 watches
to 12 watches a day. If he bought one watch at a price of PhP 22 000 from the
supplier, by how much was the daily profit increased or decreased by offering such
discount on the watch?​

Additional Activities
After learning how to compute the gross profit at least you have learned now
how to do it by your own. Solve and compute the following:
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?
Transcribed Image Text:Additional Activities After learning how to compute the gross profit at least you have learned now how to do it by your own. Solve and compute the following: 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?
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Financial Statement Analysis
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
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education