Sweet Treats Bakery bought 3 mixers: first for $2,000, second for $2,400, and third for $2,800. A bulk purchase discount of 15% was applied to the total purchase. Calculate the net cost of equipment after discount. Accurate Answer
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Sweet Treats Bakery bought 3 mixers: first for $2,000, second for $2,400, and third for $2,800. A bulk purchase discount of 15% was applied to the total purchase. Calculate the net cost of equipment after discount. Accurate Answer
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- SweetAccountingA company purchased $3,400 worth of merchandise. Transportation costs for the buyer were an additional $300. The company returned $235 worth of merchandise and then paid the invoice within the 1% cash discount period. The total cost of this merchandise is: Multiple Choice $3,335.00. S3, 263.00. $3, 431.00. $3, 433.35. $3,465.00.
- Prepare journal entries for the following transactions from Lumber Wholesale. Aug. 9 Sold 48,320 pounds of lumber with a sales price of $5.50 per pound to customer Homes Unlimited. Homes Unlimited paid with cash. The cost for this sale is $1.35 per pound. Aug. 10 Sold 34,700 pounds of lumber with a sales price of $6.75 per pound to customer Barry Njegren. Njegren paid using his in-house credit account. Terms of the sale are 4/15, n/35. The cost for this sale is $1.20 per pound. Aug. 11 Sold 50,330 pounds of lumber with a sales price of $4.60 per pound to customer Goodson Houses. Goodson paid using its American credit card. The cost for this sale is $1.40 per pound. American Credit Card Company charged Lumber Wholesale a 2.5% usage fee based on the total sale per transaction. Aug. 14 American Credit Card Company made a cash payment in full to Lumber Wholesale for the transaction from August 11, less any usage fees. Aug. 25 Barry Njegren paid his account in full with a cash…A retailer returned 1,965 defective items to the manufacturer and received a credit for the retail price of $0.86 or 86e per item less 2 8 of the retail price. What was the amount of the credit received by the retailer? a discount of 11 The credit received by the retailer is $ (Round to the nearest cent as needed.) alCalculate the net cost of purchases.
- Prepare journal entries for the following transactions of Dulce Delights. Apr. 10 Sold 350 ice cream buckets with a sales price of $12 per bucket to customer Livia Diaz. Livia paid using her in-house credit account; terms 2/10, n/30. The cost for this sale to Dulce Delights is $4.50 per bucket. Apr. 13 Sold 310 ice cream buckets with a sales price of $13.50 per bucket to customer Selene Arnold. Selene paid using her Max credit card. The cost for this sale to Dulce Delights is $4.50 per bucket. Max Credit Card Company charges Dulce Delights a 5% usage fee based on the total sale per transaction. Apr. 20 Livia Diaz paid her account in full with a cash payment, less any discounts. Apr. 25 Max Credit Card Company made a cash payment in full to Dulce Delights for the transaction from April 13, less any usage fees. If an amount box does not require an entry, leave it blank. If required, round final answers to two decimal places. Apr. 10 To record sale of ice cream buckets 0C Apr. 10 To…ANSWERRecord journal entries for the following transactions of Furniture Warehouse. Aug. 3: Sold 15 couches at $500 each to a customer, credit terms 2/15, n/30, invoice date August 3; the couches cost Furniture Warehouse $150 each. Aug. 8: Customer returned 2 couches for a full refund. The merchandise was in sellable condition at the original cost. Aug. 15: Customer found 4 defective couches but kept the merchandise for an allowance of $1,000. Aug. 18: Customer paid their account in full with cash. Solution Date Accounts and Explanation Debit Credit
- Fresh Paper Delivery has decided to analyze the profitability of five new customers. It buys recycled paper at $ 11 per case and sells to retail customers at a list price of $14.70 per case. Data pertaining to the five customers are: Customer 1 2 3 4 5 Cases sold 2,050 8,840 61,800 34,100 2,700 List selling price $14.70 $14.70 $14.70 $14.70 $14.70 Actual selling price $14.70 $14.50 $12.80 $14.18 $13.20 Number of purchase orders 16 22 39 31 34 Number of customer visits 3 2 7 4 4 Number of deliveries 18 32 69 40 34 Miles traveled per delivery 17 7 10 11 44 Number of expedited deliveries 0 0 0 0 3 pop-up content ends ctivity Cost Driver Rate Order taking $200 per purchase order Customer visits $50 per customer visit Deliveries $2 per delivery mile traveled Product handling $0.50 per case sold Expedited deliveries $310 per expedited…New Sunrise Bookstore sold 600 books on credit at $20.00 each with a sales term of 2/10 n/30. The cost of the books sold is $8,500. After selling the books, the customer returned 50 books because they were damaged. The customer paid the balance due on the fifth day after purchasing the books. Record in the journal the sale, the return, and the payment made by the customer. Indicate the gross profit that New Sunrise Bookstore made on this sale.The following transactions were selected from among those completed by Bear’s Retail Store:Nov. 20 Sold two items of merchandise to Cheryl Jahn, who paid the $400 sales price incash. The goods cost Bear’s $300.25 Sold 20 items of merchandise to Vasko Athletics at a selling price of $4,000(total); terms 3/10, n/30. The goods cost Bear’s $2,500.28 Sold 10 identical items of merchandise to Nancy’s Gym at a selling price of$6,000 (total); terms 3/10, n/30. The goods cost Bear’s $4,000.29 Nancy’s Gym returned one of the items purchased on the 28th. The item was inperfect condition and credit was given to the customer.Dec. 6 Nancy’s Gym paid the account balance in full.30 Vasko Athletics paid in full for the invoice of November 25.Required:Assuming that Sales Returns and Sales Discounts are reported as contra-revenues, compute NetSales for the two months ended December 31.
