Living Ornaments is offering a special for wedding planners. Wedding flower orders totaling over $500 receive a 10% discount, over $750 a 15% discount, over $1,000 a 20% discount. All orders $1,500 and above receive a 25% discount. The delivery charge is $76 on weekdays and $124 on weekends. Terms are 2/10 EOM. WeddingsRUs placed an order for Thursday, June 1, delivery. The list price on the chosen flowers totals $863.50. Note: Round all intermediate calculations to two decimal places (the nearest penny) and enter your final answers rounded to two decimal places. Required: a. Calculate the trade discount and the net price for the flowers to be delivered. Answer is complete and correct. $ 129.52 $ 733.98 Trade discount Net price b. How much does WeddingsRUs owe if they pay the invoice on July 10? Answer is complete but not entirely correct. Payable amount $ 751.25 X
Living Ornaments is offering a special for wedding planners. Wedding flower orders totaling over $500 receive a 10% discount, over $750 a 15% discount, over $1,000 a 20% discount. All orders $1,500 and above receive a 25% discount. The delivery charge is $76 on weekdays and $124 on weekends. Terms are 2/10 EOM. WeddingsRUs placed an order for Thursday, June 1, delivery. The list price on the chosen flowers totals $863.50. Note: Round all intermediate calculations to two decimal places (the nearest penny) and enter your final answers rounded to two decimal places. Required: a. Calculate the trade discount and the net price for the flowers to be delivered. Answer is complete and correct. $ 129.52 $ 733.98 Trade discount Net price b. How much does WeddingsRUs owe if they pay the invoice on July 10? Answer is complete but not entirely correct. Payable amount $ 751.25 X
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Heer
Don't upload any image please
Transcribed Image Text:Living Ornaments is offering a special for wedding planners. Wedding flower orders totaling over $500
receive a 10% discount, over $750 a 15% discount, over $1,000 a 20% discount. All orders $1,500 and
above receive a 25% discount. The delivery charge is $76 on weekdays and $124 on weekends. Terms are
2/10 EOM. WeddingsRUs placed an order for Thursday, June 1, delivery. The list price on the chosen
flowers totals $863.50.
Note: Round all intermediate calculations to two decimal places (the nearest penny) and enter your
final answers rounded to two decimal places.
Required:
a. Calculate the trade discount and the net price for the flowers to be delivered.
Answer is complete and correct.
$
$
Trade discount
Net price
129.52
733.98
b. How much does WeddingsRUs owe if they pay the invoice on July 10?
Answer is complete but not entirely correct.
Payable amount
$ 751.25
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps
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