Best Electronics offers trade discounts of 30%, 20%, and 10% in sequence. If the list price of an item is $1,000, ___ is the final price after all discounts. Subject: Financial Accounting
Q: Hi expert provide correct answer general accounting
A: To calculate the cash paid for rent during 2016, we use the formula: Cash Paid for Rent = Rent…
Q: Answer this Question
A: To calculate La More Company's 2013 net income using cash basis accounting, we only recognize cash…
Q: FIND @ General Account Solution
A: Problem Restatement:The Gasson Company uses the weighted-average method in process costing. The…
Q: What is the firm's P/E ratio?
A: Step 1 Dividend Yield Formula. Dividend Yield=Price per ShareAnnual Dividend per Share×100…
Q: None.
A: 1. Understand the Capital Asset Pricing Model (CAPM)CAPM: Cost of Equity = Risk-Free Rate + (Beta *…
Q: The cost per equivalent unit for conversion costs for the first month is _.
A: Step 1: Key FormulaThe cost per equivalent unit is calculated as: Cost per Equivalent Unit…
Q: Kindly help me with accounting questions
A: Step 1: Definition of Yearly EarningsYearly earnings from savings represent the interest earned on…
Q: need correct general account ans.
A: Step 1: Identify the Given DataRaw materials purchased and used: $3,210Wages of production workers:…
Q: Quick answer of this accounting questions
A: Step 1: Introduction to income statementIncome statement is referred to as the financial statement…
Q: Quick answer of this accounting questions
A: To calculate the division's turnover, we use the following formula:Turnover = Sales / Average…
Q: Step by step answer
A: Step 1: Formula Net income = Gross margin - Expenses Step 2: Substitution Net income = Gross margin…
Q: Ans
A: To calculate the capital lease liability as of December 31, 2016, let's break the problem down step…
Q: Do fast answer of this accounting questions
A: Step 1: Definition of Days Sales in Accounts ReceivableDays Sales in Accounts Receivable (DSO)…
Q: What is the total amount of current liabilities?? General accounting
A: Step 1: Current liabilities are identified by the duration of payment. If it is payable within 12…
Q: Financial accounting
A: Step 1: Calculate Net Sales• Net Sales = Sales − Sales Returns and Allowances−Sales DiscountsStep 2:…
Q: How much is direct labor coat on these general accounting question?
A: Manufacturing Cost: The total cost incurred to manufacture a product. It consists of three…
Q: 人 es Total cash receipts Total cash disbursements 1st Quarter $ 320,000 $ 372,000 2nd Quarter $…
A: To prepare the company's cash budget for next year based on the given data, here's the step-by-step…
Q: Hello tutor please help me this question solution
A: The high-low method involves using the highest and lowest levels of activity to estimate variable…
Q: Answer? ? Financial accounting question
A: Step 1: Define Percentage Rate of Return on Plan AssetsThe percentage rate of return on plan assets…
Q: hello tutor provide correct answer general accounting
A: Step 1: Define Owner's EquityOwner's Equity is the difference between a company's total assets and…
Q: None
A: Step 1: Calculate Sales RevenueStep 2: Calculate Variable ExpensesStep 3: Calculate Contribution…
Q: Answer? ? Financial accounting question
A: Step 1: Define Credit LineA line of credit is a loan facility extended by a commercial bank or…
Q: FINANCIAL ACCOUNT
A: Problem Information:Corsi Company has no beginning Work in Process inventory, so all units started…
Q: Ans
A: Step 1: Definition of Itemized DeductionsItemized deductions are eligible expenses that taxpayers…
Q: Answer???
A: Detailed explanation:Beginning Inventory = Cost of goods sold + Ending inventory -…
Q: Please need answer the general accounting
A: To determine the selling price per unit, we need to use the break-even formula for profits, which…
Q: The Yen Company has fixed costs of $750,000 and variable costs are 70% of the selling price. To…
A: Explanation of Break-Even Analysis:Break-even analysis is a financial tool used to determine the…
Q: Balance sheet for inventory??? General accounting
A: Step 1: Identify the cost of the inventory itemStep 2: Calculate the net realizable value (NRV)Step…
Q: General accounting
A: Step 1: Definition of Lower of Cost or Net Realizable Value (LCNRV)The LCNRV rule is an accounting…
Q: hello, can you give correct answer
A: Step 1:The net income is calculated by deducting the operating expense and income tax expense from…
Q: None
A: The gross margin ratio is calculated using the formula: Gross Margin Ratio = (Net Sales - Cost of…
Q: Accurate Answer
A: Step 1: Calculate the gross profit percentage using the transfer price and costStep 2: Identify the…
Q: Suppose Austin Sound had sales of $300,000 and sales returns of $45,000. The cost of goods sold was…
A: To calculate the gross profit, use the formula: Gross Profit = Net Sales - Cost of Goods Sold…
Q: Provide correct answer general accounting
A: To calculate the effective interest rate, we need to account for the compensating balance, which…
Q: Give true answer this general accounting
A: Step 1: Use the accounting equationThe accounting equation is:Assets=Liabilities+Stockholders'…
Q: I want to correct answer accounting question
A: Step 1: Definition of Budgeted Ending InventoryThe budgeted ending inventory represents the desired…
Q: I need this question answer general Accounting
A: Step 1: Define Gross ProfitGross profit refers to the income earned from business operations. The…
Q: Calculate the days sales in inventory? General accounting
A: Step 1: Definition of Days Sales in Inventory (DSI)Days Sales in Inventory (DSI) measures the…
Q: Calculate the amount paid for goodwill? General accounting
A: Step 1: Definition of GoodwillGoodwill is an intangible asset that arises when a company acquires…
Q: GENERAL ACCOUNTING
A: Step 1:The predetermined overhead rate is the rate used to allocate the manufacturing overhead to…
Q: Don't Use Ai
A: why the other options are incorrect: 2. Historical cost less depreciation.Why it's wrong: The other…
Q: Find out the problem
A: Concept of Joint OperationA joint operation refers to a business activity undertaken by two or more…
Q: Please provide right answer ☑
A: Option a: This option is incorrect because the reciprocal method's main purpose is to eliminate all…
Q: 3 POINTS
A: Concept of Effective Interest Method:The effective interest method is a financial accounting…
Q: Hi, tutor give answer
A: Explanation of Period Costs:Period costs are expenses that are not directly tied to the production…
Q: Can you please solve this general accounting question?
A: Net income = Revenue - ExpensesNet income = 200,000 - 120,000Net income = 80,000The revenue…
Q: General accounting question
A: Step 1: Define Gross ProfitGross Profit is the third line that is being presented in the Income…
Q: Bartlett's Pears has a profit margin of 8.20 percent on sales of $24,300,000. If the firm has a debt…
A: Explanation of Profit Margin: Profit margin is a financial metric that shows what percentage of…
Q: I want answer
A: Explanation of Direct Materials:Direct materials are the raw materials that are directly used in the…
Q: Calculate the interest? General accounting
A: Calculation:1.Interest charged on borrowed.Interest=Borrowed Amount×Interest…
Best Electronics offers trade discounts of 30%, 20%, and 10% in sequence. If the list price of an item is $1,000, ___ is the final price after all discounts. Subject: Financial Accounting
Step by step
Solved in 2 steps
- PLEASE SHOW ALL WORK 14. Series discounts are a form of trade discount. (T or F) For Problems 15-19 assume that you purchase goods with a list price of $455 and a trade discount of 25%. The invoice is dated October 3 with terms of 3/15, n/45. 15. What is the net price after trade discount? 16 What is the last day you can take a cash discount? 17. What is the net amount due if you pay within the discount period? 18. If you do not pay within the discount period, what is the final date to pay the invoice? October 3 is day number 276; 19. If you do not pay within the discount period, what annual interest rate are you, in effect, paying the supplier? Express the rate with two decimal placesA supplier grants credit terms of 1/5, net 30. What is the effective annual rate of the discount on a purchase of $5,000?A wholesaler gives trade discounts 30%, 11% and 3% to his regular customers.a) Find the single discount equivalent to the given trade discounts.b) If the list price of an item is RM320, find the net price.
- Final answerPlease see imagine for questionA buyer for a retail store negotiates discounts of 30%, 15%, and 5% (taken successively) on a certain mattress. If the mattress has in initial price of $904, what price will the buyer actually pay after the discounts are applied? (Round to the nearest cent.)
- You place and order for 100 units of inventory at a unit price of P 50.00. The supplier offers terms of 3/30, net 90. How long do you have to pay before the account is overdue? If you take the full period, how much should you remit? How much is the discount offered? How quickly must you pay to get the discount? If you take the discount, how much should you remit? If you don’t take the discount, how much interests are you paying implicitly? How many days’ credit are you receiving?PLEASE SHOW ALL WORK 6. You receive an invoice for $18,300 with terms of 5/15, n/60. If the supplier has a policy of allowing a cash discount for partial payments and you pay $11,500 within the discount period, calculate the amount of credit you will receive for this payment.Amount credited = Amount paidComplement of cash discount rate = $11,500 7. For terms of 8/10, n/60 determine the annual rate you, in effect, pay the supplier if you fail to pay the invoice at the end of the discount period. Express the rate with 2 decimal places. 8. An invoice for $75.20 has terms of 3/10, 1/30, n/60. If you make payment 25 days after the invoice date, what amount should you pay? 9. You purchase goods on an invoice dated July 5 with terms of 4/15, n/45 ROG. If you receive the goods on July 23, calculate(a) the last day of the discount period, and (b) the last day of the credit period.b. Last day of credit period:Arrow Manufacturing offers discounts of 31%, 15.5%, 3% on a line of products For how much should an item be listed if it is to be sold for $286 22? The itom should be isted for $ (Round the final answor to the nearest cent as needed. Round all intermediate values to six decimal places as neoded)
- A company makes a credit sale of $1,000 on June 13 according to the payment terms 5/10, n/30. On June 16, there is a return of $100. The buyer makes the payment for the remaining amount by utilizing the discount. What should be the amount to be paid? O A) $855 B) $900 C) $950 D) $810 E) $600Maximum Inc. (retailer) has a loyalty program that rewards its customers one point per $1 spent. Points are redeemable for $0.20 off future purchases. A customer purchases products (cost of $280) for cash at the usual selling price of $400 and earns 400 points redeemable for $80 off future purchases of goods or services. The retailer expects redemption of 360 points or 90% of points earned. a.) How should the transaction price be allocated among the performance obligation(s)?Note: Round each allocated transaction price in the table below to the nearest dollar. b. Prepare Maximum’s journal entry to record the $400 sale to the customer where the customer earned 400 loyalty points.Allocating Transaction Price to Performance Obligations and Recording Sales Maximum Inc. (retailer) has a loyalty program that rewards its customers one point per $1 spent. Points are redeemable for $0.20 off future purchases. A customer purchases products (cost of $280) for cash at the usual selling price of $400 and earns 400 points redeemable for $80 off future purchases of goods or services. The retailer expects redemption of 360 points or 90% of points earned. a. How should the transaction price be allocated among the performance obligation(s)?Note: Round each allocated transaction price in the table below to the nearest dollar. Performance Obligations TransactionPriceas Stated StandaloneSellingPrice AllocatedTransaction Price(rounded) Product purchase Answer Answer Answer Loyalty rewards Answer Answer Answer Answer Answer Answer b. Prepare Maximum’s journal entry to record the $400 sale to the customer where the customer earned 400…