Tech Gadgets Inc. is a retailer specializing in high-end smartphones. The company purchases a premium smartphone for $650 and sells it for $1,100. Required: Calculate the gross profit on this smartphone.
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- RIO is a retailer of smart televisions. Typically, the company purchases atelevision for $1,200 and sells it for $1,500. What is the gross profit margin on this television? General AccountRIO is a retailer of smart televisions. Typically, the company purchases atelevision for $1,200 and sells it for $1,500. What is the gross profit margin on this television? Correct AnswerRIO is a retailer of smart televisions. Typically, the company purchases atelevision for $1,200 and sells it for $1,500. What is the gross profit margin on this television?
- Pixel Vision Ltd. is a retailer of premium drones .Typically, the company purchases a drone for $750 and sells it for $1,250. What is the gross profit on this drone?Pixel Vision Ltd. is a retailer of premium drones. Typically, the company purchases a drone for $750 and sells it for $1,250. What is the gross profit on this drone? a) $1,250 b) $500 c) $550 d) $750Maximum 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.
- Suppose your company sells a 3 pack of lenses that attach to smart phones to improve the quality of pictures people take. You pay $29.95 for each 3 pack and sell them for $59.95. What is your Cost of Goods Sold Percentage for this item?Subject - account Please help me. Thankyou.Your firm sells home appliances at retail. When ordering washingmachines from the manufacturer, you notice the following terms listed inthe catalog:♦ List price, $400♦ Trade discounts of 25/15/5 If you take advantage of all trade discounts, find the net price you will payfor the washing machine.
- Elsa bought some kitchen supplies from an online store. For shipping the store charges a $8.65 flat fee or 8.75% of the total purchase, whichever is greater. Suppose Elsa's total purchase is $85. How much shipping will they pay? Round to the nearest cent.Computers and More offers discounts to its customers and allows the customer to return the product if not satisfied. Computers and More had sales of $850,000 and offers the customer a payment term of 3/12 n/30. The company received $15,000 in returned goods. The cost of goods sold for the period after returns was $320,000. Calculate net profit and gross profit.USE GOOGLE SHEET Use the template below and create your own invoice for purchased products of a VAT registered customer. The products are enumerated below with unit price at gross of VAT, a 3% discount has been given to the customer. Do all formulas required. Format the invoice for clarity.