The following transactions took place in the month of February 2020 : DATE TRANSACTION 1 Sold goods on credit to Pinky Leshaba for R2 500 excluding VAT 4 The invoice provided to Pinky Leshaba on the 1st February was overcast by R230 including VAT. Pinky Leshaba has accepted this amount and the error needs to be corrected. Hint: this should be treated in a similar way as a rebate. 6. Goods sold on credit to Siya Khumalo for R920 including VAT 10 Siya Khumalo returned damaged goods R100 excluding VAT 15 Goods sold on credit to Pinky Leshaba R1 000 excluding VAT 21 Charged Pinky Leshaba interest on overdue account R50 27 Pinky Leshaba paid R1 000 in part settlement of her balance owing

The following transactions took place in the month of February 2020 : DATE TRANSACTION 1 Sold goods on credit to Pinky Leshaba for R2 500 excluding VAT 4 The invoice provided to Pinky Leshaba on the 1st February was overcast by R230 including VAT. Pinky Leshaba has accepted this amount and the error needs to be corrected. Hint: this should be treated in a similar way as a rebate. 6. Goods sold on credit to Siya Khumalo for R920 including VAT 10 Siya Khumalo returned damaged goods R100 excluding VAT 15 Goods sold on credit to Pinky Leshaba R1 000 excluding VAT 21 Charged Pinky Leshaba interest on overdue account R50 27 Pinky Leshaba paid R1 000 in part settlement of her balance owing

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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(11) (12) (13) (14) (15) (16) Whatever decision takes, Bracelet Delights must also consider the effect the decision might have on (17). 1: More Info 1. Customer orders. The salespeople, designers, and jewelry makers spend time with the customer. The cost-driver rate is $40 per hour spent with a customer. 2. Customer fittings. Before the jewelry piece is completed, the customer may come in to make sure it looks right and fits properly. Cost-driver rate $24 per hour. Rush orders. Some customers want their jewelry quickly. The cost-driver rate is $110 per rush order. 3. 4. Number of customer return visits. Customers may return jewelry up to 30 days after the pickup of the jewelry to have something refitted or repaired at no charge. The cost-driver rate is $22 per return visit. 2: Data Table Information about the six customers follows. Some customers purchased multiple items. The cost of the jewelry is 80% of the selling price. Customer number 01 02 03 04 05 06 2. (1) O O 01 O 02 O 03 (6)…
Using the information in the photo, how would I prepare Journal Entries for the December transactions?
Leah Wells, a yoga instructor, started a company that sells athletic yoga clothing. You are Leah’s marketing manager. (Do not round intermediate calculations and round your final answers to 2 decimal places.) a. After assessing the competitors, you determine that Leah needs to price her products with a markup percentage of 60%. The cost of her tank tops is $44 and her pullovers is $54. Determine the selling price for each of Leah’s clothing items. b. Leah is ready to launch her yoga pants. You have determined that she should set her price 30% below her competitor’s price of $124. Leah’s cost to produce yoga pants is $52 per unit. Determine the markup percentage on Leah’s yoga pants. c. Calculate the gross profit margin for tank tops, pullovers, and yoga pants. d. After a year, you determine that Leah should set a standard target margin percentage of 45% on all products. Determine the new prices for tank tops, pullovers, and yoga pants.
You have an order from your customer in Milan, ITALY for 200 sets of Burtons GoreTex Gloves. Your terms are CIF. There are 10 sets to one box, and 20 boxes in the shipment. How much will the shipment cost (You must show YOUR work Each box weighs 5 kg. and measures 12x12x12 Total value of shipment = $ 7,500 Insurance per $100/value = $0.50 Airfreight: $5 per kilo from LAX to MIL • Customs duty = 15% • VAT = 20% Local delivery in Milan = $150 %3D
3. You are selling necklaces on Amazon for $23.99 and your gross margin is 53%. Amazon will let you buy a "sponsored listing" which means your listing will be shown at the top of the Amazon search results. The average CPC is $0.37 per click. Of those people who click on your listing, 7% purchase the necklace. a. What is the ROI for this type of advertising? Assume all sales from users who click on your ad are incremental.
The list price of an orange dial Luminox watch is $300. Katz Jewelers receives a trade discount of 35%. Find the trade discount amount and the net price. This question has me kind've mixed up. I know the answer to trade discount is 105.00, and net price is 195.00 but I need help working out how to get to these solutions.
CNN reported that higher-income shoppers are the biggest bargain shoppers searching Amazon, clicking on their mobile devices and even querying Alexa looking for the best deals. If Rebecca Johnson purchased a state-of-the-art Biologique Recherche facial machine for her home business for $110,000, with a useful life of 5 years and a residual value of $36,000. What would be the book value of the machine after the first year using the straight-line depreciation method? Book value
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