Ali received an invoice dated 21 March 2021 worth RM 450,000 for 100 units of laptops. The invoice was offered trade discounts of 8 % and 5 % and cash discount terms of 4/15,2/20, n/30. Ali plans to sell the laptop with the operating expenses are 5 % of the cost and he makes a 30 % net profit based on cost. a. Find the last date to settle the invoice. If Ali paid the invoice on 3 April 2021 in cash, determine the amount need to pay. b. Determine the selling price and breakeven price for each unit. с.

Ali received an invoice dated 21 March 2021 worth RM 450,000 for 100 units of laptops. The invoice was offered trade discounts of 8 % and 5 % and cash discount terms of 4/15,2/20, n/30. Ali plans to sell the laptop with the operating expenses are 5 % of the cost and he makes a 30 % net profit based on cost. a. Find the last date to settle the invoice. If Ali paid the invoice on 3 April 2021 in cash, determine the amount need to pay. b. Determine the selling price and breakeven price for each unit. с.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Duane purchased a painting for $9800 at the beginning of 2009. He received annual payments of $550 at the end of each year through 2014 by putting up the painting for show. At the end of 2014, he sells the painting for $10,000. Compute the yield (internal rate of return) Duane earned on his painting purchase.
Philo needs to borrow $310,000 to purchase a home. He is able to obtain a fifteen year mortage with a flixed-rate of 12.0%, What is his monthly payment? For numerical entries, please 1. do NOT enter commas 2. do NOT enter the dollar symbol: $ 3. DO enter the percent symbol when it is needed: % 4. enter dollar amounts to the nearest cent, for example: 12345.67 Please complete the TVM Framework table to compute Philo's monthly payment on this mortgage: Time Value of Money (TVM) Framework FV PV PMT type CPT Piease complete the first rows of the amortization table: Amortization Table Excess Payment Principal Remaining Principal INTEREST Balance If Philo started this mortgage at the beginning of December, how much interest would he pay during its first calendar year?
Rob asks his good friend Ted to borrow $5,000 and says he will pay it back to him in 6 months with 8% interest, meaning Rob will owe Ted $5,200 if he pays it back at that time. Ted asks Rob to "make" a promissory note payable to Ted stating these terms. Rob does prepare the "note" and signs and gives it to Ted and at the same time Ted gives Rob the $5,000. Ted in need of money unexpectedly, because he loses his job, contacts his buddy Gullible, and asks him if he will buy the note at a discount of $4,800. Gullible accepts and stands to make a nice profit when the note owed by Rob comes due. When Gullible gives Ted the $4,800, Ted writes on the note "Without Recourse" and signs his name and tenders the note to Gullible. Gullible does see Ted write this on the note, but is not sophisticated with regard to legal lingo, and thinks nothing of it. He therefater gets nervous and thinks maybe he should sell the note himself right away. He calls his aunt Saviour who says she will buy the…
Russell bought a new hot tub today from Situation Hot Tubs. What is the present value of the cash flows associated with this transaction if the discount rate is 5.70 percent, he will receive a rebate of $527.00 from Situation Hot Tubs in 1 year, and he will pay $3,973.00 to Situation Hot Tubs in 4 years? Note: the correct answer is less than zero. $-2684.29(plus or minus 10$) $-3681.45(plus or minus 10$) $-2760.68(plus or minus 10$) $-2655.87(plus or minus 10$) None of the above has plus or minus $10 to correct answer
Kari is purchasing a home for $220,000. The down payment is 25% and the balance will be financed with a 15 year mortgage at 8% and 3 discount points. Kari made a deposit of $30,000 (applied to the down payment) when the sales contract was signed. Kari also has these expenses: credit report, $90; appraisal fee, $110; title insurance premium, 1% of amount financed; title search, $300; and attorney's fees, $500. Find the closing costs (in $).
Peter purchased a machine for $400,000. He paid 16% of the value as a down payment and received a loan for the balance at 7.05% compounded annually. He had to make payments of $4,443.55 at the end of every month to settle the loan. a. How many payments were made? A full solution for the number of payments should be shown. Submit your solution. o payments Round up to the next payment period
Jie purchased a computer priced at $891.06, financing it by paying $60.38 on the date of purchase, and signing a contract to pay equal monthly payments over the next fifteen months. If the terms of the contract state that interest is calculated at 11.9% compounded monthly, how much does Jie have to pay at the end of each month? Jie must make payments of $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
Stephen purchased a 2017 Toyota Camry on 2 July 2021 for $46,000. He financed the full price of the vehicle and borrowed $9,000 extra to pay off his credit card What will the interest apportionment percentage be? 0% 76.99% 54.90% 68.01% 83.64%