Complete the following table by finding the net price factor, single equivalent discount, trade discount (in dollars), and net price (in dollars). Round the net price factor and single equivalent discount to five decimal places, and the trade discount and net price to the nearest cent, when necessary. Trade List Price Discount Rate $650.70 33/15/5 Net Price Factor Enter a number. Single Equivalent Discount x Trade Discount x $ Net Price x
Complete the following table by finding the net price factor, single equivalent discount, trade discount (in dollars), and net price (in dollars). Round the net price factor and single equivalent discount to five decimal places, and the trade discount and net price to the nearest cent, when necessary. Trade List Price Discount Rate $650.70 33/15/5 Net Price Factor Enter a number. Single Equivalent Discount x Trade Discount x $ Net Price x
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question

Transcribed Image Text:Complete the following table by finding the net price factor, single equivalent discount, trade discount (in dollars), and net price (in
dollars). Round the net price factor and single equivalent discount to five decimal places, and the trade discount and net price to the
nearest cent, when necessary.
Trade
List Price Discount
Rate
33/15/5
$650.70
Net Price
Factor
Enter a number.
Single
Equivalent
Discount
x
49
Trade
Discount
x
Net Price
x
Expert Solution

Step 1: Formulas
Net Price Factor (NPF): NPF = 1 - (Trade Discount Rate/100)
Single Equivalent Discount (SED): SED = 1 - NPF
Trade Discount = List Price × (1 - NPF)
Net Price = List Price - Trade Discount
Step by step
Solved in 6 steps

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.Recommended textbooks for you


Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,

Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,


Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,

Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON

Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education

Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education