NOTE: don’t use excel and show your solution II. Find the trade discount and trade discount rate. Round to the nearest hundredthpercent.Trade DiscountList PriceNet PriceTrade DiscountRateP 65.00P 50.00115.00198.00237.7598.00142.50176.56

List Price Net Price Trade Discount Trade Discount Rate 65.00 50.00 15.00 23.08% 115.00 98.00…

Answered: the trade discount and trade discount…

Business

Finance

the trade discount and trade discount rate.

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter10: Cash Receipts And Cash Payments

Section: Chapter Questions

Problem 1DQ: What is the normal balance for each of the following accounts: (a) Purchases? (b) Sales Discounts?...

See similar textbooks

Related questions

Q: ral Bank declares a dividend of P27.00 per share for the common stock. If the common stock closes at…

A: Stock yield ratio refers to that portion of the price of the investment which is recovered by way of…

Q: Leila is saving for her retirement by making deposits of $22,000 on each birthday into a savings…

Q: Petron Globe Assets Cash Receivables Inventories 7,619 90, 602 16, 757 7, 621 5, 972 2. 810 17,927…

A: Average payment period is the time in days to pay accounts payable. It can be calculate Average…

Q: 7.11 Determine the rate of return for the following cash flow series. + 0 1 4000 i = ? 12,000 2 3 4…

A: The rate of return (i) is given by the rate at which sum of present value of all cashflows (NPV) is…

Q: Calculating IRR LO5] What is the IRR of the following set of cash flows? Year Cash Flow $19,500…

A: IRR is the rate at which the net present value of cash flows is 0. IRR is calculated in 2 steps: 1.…

Q: XYZ Company Account Titles Accounts Receivable Accumulated depreciation - Buildings Accumulated…

A: Answer:- 1. Net assets = Total assets - Total liabilities 2. Total liabilities = Total non-current…

Q: Jonabelle is considering investing in bonds. Some data are as follows: Face Value of bonds P…

A: Issue price of bonds would be present value of interest annuity & maturity amount at market rate…

Q: 2. Pedro Reyes purchased a delivery vehicle on April 1, 2016 amounting to PHP250,000. It is…

A: Depreciation means the expenses written off from value of fixed assets due to natural wear and tear…

Q: Operating cycle of JFC * STATEMENT OF FINANCIAL POSITION AND INCOME STATEMENT OF 3 COMPANIES AS…

A: Operating cycle is the time from beginning of the production process to collection of csh from…

Q: Three mutually exclusive design alternatives are being considered. The estimated cash flows for each…

A: Here, Useful Life of all investment is 10 years MARR is 20% Details of Alternative A: Capital…

Q: I cannot use excel. please caculate manually

A: Given: Initial salary is $42,200 Salary rise after first year to $45,400 Inflation average is 3%

Q: Average collection period of JFC * STATEMENT OF FINANCIAL POSITION AND INCOME STATEMENT OF 3…

A: Given, The total sales of JFC is 90,671. Total receivables is 7621

Q: Find the future value and present value using the ordinary annuity and. No. Principal Rate Mode of…

A: An ordinary annuity is a series of regular payments paid at the end of each period, such as monthly…

Q: Given the following three mutually exclusive alternatives, Alternative A •.. B C Initial Cost $50…

A: Let initial cost = C Annual benefits = A n = 5 years i = 10%

Q: 1. Tim deposits P750 every end of 3 months in an account paying 5% interest compounded quarterly.…

A: “Hi There, Thanks for posting the questions. As per our Q&A guidelines, must be answered only…

Q: 10. How long does it take Php100,000 to earn Php5,001 interest if money is worth 8% compounded…

A: Let the duration = n years Initial amount (I) = Php 100000 Interest = Php 5001 Total final amount…

Q: 1 2 3 4 -19.9% 16.7% 19% -50% 5 6 7 43.2% 1.3% -16.4% ) What is the average annual return over the…

A: Average rate of return is the simple average rate of return and computed as sum of all divided by…

Q: Jose owes Pedro the sum of P 10,000 due on Dec.31,1978, and P 6,00 Dec.31,1980. However, with…

A: In this we need to find out present value of all options and from that we can get the value…

Q: can you please write your solution out and not use excel.

A: Loan amount=$8000Interest rate=12%No payment for year 1.Total payments=18Find out the monthly…

Q: A company needs 60,000 in five years to buy a new equipment. In order to accumulate this, sum a…

A: Accumulated amount needed = 60000 after 5 years Let the annual payment = A r = 18%

Q: Mr. Jones will invests P 5,000 in a fund at the end of each 6 months to accumulate P 100,000 to buy…

A: The future value of an annuity refers to the value of a series of equal payments or cash flows at a…

Q: plan A plan B plan C Down payment 10,000 8,000 5,761.09 Annual payments 3,076.15 10,077.19 2,396.62…

A: Down payment of C = 5761.09 Annual payment of C (A) = 2396.62 n = 25 years r = 14%

Q: Pperating cycle of GLOBE * STATEMENT OF FINANCIAL POSITION AND INCOME STATEMENT OF 3 COMPANIES AS…

Q: 1. 500,000 units of a product per year is being produced by a company and sells them for P4 million.…

A: The break-even point refers to the point where the sales of the product neither earn profit nor bear…

Q: Type 2D: ABC Inc. is considering the acquisition of Togo Company. respectively. ABC's financial…

A: Given, Value of ABC is $ 40 million Togo is $15 million

Q: Find the future value and present value of the annuity due. Principal Rate Mode of Payment Term No.…

A: “Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

Q: I. Find the trade discount and net price. Round to the nearest cent. Trade Discount List Price Trade…

A: Solution: Trade discount is the discount given on listed price in the normal course of business. The…

Q: A $85,000, 8.50% bond redeemable at par, with annual coupon payments, is purchased 8 years before…

A: The bond's value or the price can be computed as the sum of the bond's coupons and principal after…

Q: Mandatory 1: Using the incremental rate of return (AROR) analysis. Determine the best alternative.…

A: Incremental rate of return is a process of analysing financial returns of two or more competitive…

Q: A $85,000, 8.50% bond redeemable at par, with annual coupon payments, is purchased 8 years before…

A: Bond value is the value of a bond measured on the basis of the present value of all the expected…

Q: Consider a 5-year MACRS asset, which was purchased at $140,000. The asset was disposed of at end of…

A: The Modified Accelerated Cost Recovery System (MACRS) serves as a most appropriate method of…

Q: How much will be paid every three months for a loan that amounts to P1 400 500.00 if money is worth…

A: Loan Amount = P 1,400,500.00 Time Period = 20 Years Interest Rate = 518%

Q: An engineer deposits $830 per month into a savings account that pays interest at a rate of 10% per…

A: The future value of an annuity is the future worth of a series of cash flows at a certain rate of…

Question

NOTE: don’t use excel and show your solution

II. Find the trade discount and trade discount rate. Round to the nearest hundredth
percent.
Trade Discount
List Price
Net Price
Trade Discount
Rate
P 65.00
P 50.00
115.00
198.00
237.75
98.00
142.50
176.56

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Trade Discount and Trade Discount Rate

VIEW

Calculations

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, finance and related others by exploring similar questions and additional content below.

Similar questions

Directions. Table Completion: Show your solution. 10 points LIST PRICE TRADE DISCOUNT DISCOUNT RATE NET PRICE P11,120.04 P1,850.50 P3,090.13 8.5% P501.25 P27,498.75
How do you find the trade discount and net price of an item if the list price is $199, the chain discount is 8/4/3, the net price equivalent rate is 0.856704, and the single equivalent discount rate is 0.144296?
Calculate the trade discount (in 5). Round your answer to the nearest cent. List Price Trade Discount Rate Trade Discount 5365.00 7%
Complete the following invoice, finding the net price using the single trade discount rate.QtyItemUnit priceList price3535Notebooks$1.311.314545Looseleaf paper$0.880.882525Ballpoint pens$0.830.83Total list price3535% trade discountNet priceFill in, rounding to the nearest cent as needed.QtyItemUnit priceList price3535Notebooks$1.311.31$nothing
Calculate the net price and single equivalent discount. Round to five decimal places when necessary. Trade Discount Rate = 20/18/15 Net Price Factor = 0.5576 What is the Single Equivalent Discount.
6. The purchasing document should also specify when payment is due. This is usually expressed as a net number of days, such as Net 30 or Net 45. A discount period may be included where the supplier specifies the amount of the discount as well as the number of days the buyer can make payments and still earn the discount. The discount period is often expressed as a formula: 2/20 Net 45
Which of the following numbers represents the discount percentage applied if a customer pays within a discount window and credit terms are 3/15, n/60? A. 3 B. 15 C. 60 D. 3 and 15
Calculate the trade discount (in $) and trade discount rate (as a %). Round your answer to the nearest tenth of a percent. List Price: $4,500.00 NET PRICE: $3,515.00
(Cost of Trade Credit) Calculate the effective cost of the following trade credit terms where payment is made on the net due date. 2/10, net 30 3/15, net 30 Common Stock A Common Stock B Probability Return Probability Return .30 11% .20 25% .40 15% .30 6% .30 19% .30 14% .20 22%
Select the correct choice that completes the sentence below. The cost of an item if the full amount had been paid at the time of sale is called the O A. down payment price O B. installment price O C. total price O D. cash price
Explain the NCREIF retail index?
8.Which of the following occurs/takes place under the gross price method of recording purchases? a. Purchase discount is recorded when payment is made within the discount period. b. Purchase discount lost is recorded when payment is made after the discount period. c. Purchase discount is recorded when payment is made after the discount period. d. Purchase discounts lost is recorded when payment is made within the discount period. e. Option 5