Answered: Assignment Q. - 1.1.87 (Financial… | bartleby

SWFT Comprehensive Vol 2020

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter16: Accounting Periods And Methods

Section: Chapter Questions

Problem 1BCRQ

See similar textbooks

Related questions

Question

?? Commission

Assignment Q. - 1.1.87 (Financial Accounting)
Phoenix Art Gallery records commission on sales.
Weekly sales: paintings $4,800, sculptures $3,200,
prints $2,000. Commission rate 25%.
commission earned.
is the

Expert Solution

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Blurred answer

Similar questions

This table shows the amount of commission earned for a broker receiving 3% commission on sales. How much would this agent earn in commission for $600,000 in sales? Commission Eamed Sales (in thousands of S) 120 240 360 480 600 Commission (in thousands ofS 36 72 108 14.4 A. $180,000 B. $18,000 C. $200 D. $20,000
This table shows the amount of commission earned for a broker receiving 3% commission on sales. How much would this agent earn in commission for $600,000 in sales? Commission Earned Sales (in thousands of S) 120 240 360 480 600 Commission (in thousands of S) 3.6 72 10.8 14.4 A. $180,000 B. $18,000 C. $200 D. $20,000
Please help
1. Isabel Fischer, paper sales. 9% commission on first $1400. 11% commission on amount over $1400. $3200 total sales. What is her total commission?
Receiveables: A company has accounts recieveable of $6,333. Sales for the year were $9,800 . What is its average collection period? Show & expalin the work.
Sold goods to G George, invoice detailed 60 items @ R80 exclusive per item) Mark up is 150%. Calculate the sales Debtors Control account of the Debtors Journal? what is the Cost Of Sales?
At January 1, the total of the purchases ledger accounts was $38,000, while at December 31 it was $43,000. During the year the firm paid out $83,000 to credit suppliers, while enjoying discounts of $8,800. How much was purchased on credit during the year ? Select one : A.$88,000 B.$96,000 C.$82,600 D.$97,000 Clear explanation of answer needed
Alfa completed the following transactions during the year ended 31 December 20x7 Credit sales during the year $53,300 Collection from receivables $56,100 During the year, total amount irrecoverable $560 Opening balance of receivables $8,600 Calculate the balance of receivables that will appear in the SOFP on 31 December 20x7. A.$5,800 B.$10,840 C.$5,240 D.$56,100
D1.
choose the letter of the correct answer Log Company’s credit sales are P300,000, and the collection period is 90 days. Cost is 70 percent of selling price. Determine Log's average investment in accounts receivable. a. P32,500.00b. P42,500.00c. P52,500.00d. P62,500.00e. P72,500.00
Customer returns and allowances for department #620 came to $5,500. Gross sales in the department were $95,000. What percentage of merchandise sold was returned? Write answer to two decimal places with the % symbol, example 6.23%
Jade makes all purchases on account, subject to the following payment pattern: Paid in the month of purchase ……………… ….. 30% Paid in the first month following the purchase ……. 60% Paid in the second month following the purchase .. 10% If purchases for January, February and March were P200,000; P180,000; and P230,000, respectively, what were the firm’s budgeted payments in March?

SEE MORE QUESTIONS

Recommended textbooks for you

SWFT Comprehensive Vol 2020

SWFT Comprehensive Vol 2020

Accounting

ISBN:

9780357391723

Author:

Maloney

Publisher:

Cengage

SWFT Individual Income Taxes

SWFT Individual Income Taxes

Accounting

ISBN:

9780357391365

Author:

YOUNG

Publisher:

Cengage

Principles of Accounting Volume 2

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

SWFT Comprehensive Vol 2020

SWFT Comprehensive Vol 2020

Accounting

ISBN:

9780357391723

Author:

Maloney

Publisher:

Cengage

SWFT Individual Income Taxes

SWFT Individual Income Taxes

Accounting

ISBN:

9780357391365

Author:

YOUNG

Publisher:

Cengage

Principles of Accounting Volume 2

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

SEE MORE TEXTBOOKS