This question is for business math using the single trade discount and net price. Complete the following table: (Do not round intermediate calculations. Round your final answers to the nearest cent.) A treadmills list price is $3,000. Use the chain discount of 9/4 to get the net price and the single trade discount. Please explain how I work out both the single trade discount and the net price using the list price and the chain discount. So I can learn how to work out a problem like this for my midterm next week. For the net price, I got $180.00 but I am not sure if that is right.

This question is for business math using the single trade discount and net price. Complete the following table: (Do not round intermediate calculations. Round your final answers to the nearest cent.) A treadmills list price is $3,000. Use the chain discount of 9/4 to get the net price and the single trade discount. Please explain how I work out both the single trade discount and the net price using the list price and the chain discount. So I can learn how to work out a problem like this for my midterm next week. For the net price, I got $180.00 but I am not sure if that is right.

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter15: Financial Statements And Year-end Accounting For A Merchandising Business

Section: Chapter Questions

Problem 1MYW

See similar textbooks

Related questions

Q: Raymond Autobody Shop has the following accounts: A (Click the icon to view the accounts.) Create a…

A: Assets = Liabilities + Equity

Q: O 0. A SC EX19_4a_AisetouMagassouba_1 Q AutoSave OFF ... Home Formulas Review View O Tell me O…

A: While creating data table, it is required to put to be find values Row and Column in the Input cell…

Q: Suppose KC Toys buys $103 200 worth of MegoBlock toys on credit terms of 2/10, n/30. Some of the…

A: Purchase refers to a transaction that results in an acquisition of an item. This transaction…

Q: Part of your job is to review customer requests for credit. You have three new credit applications…

A: Lets understand the basics.Current ratio compares current assets with current liability. It shows…

Q: Part of your job is to review customer requests for credit. You have three new credit applications…

A: The current ratio evaluates a business' ability to pay short-term loans or those that are due within…

Q: Complete the following table by finding the net price factor, single equivalent discount, trade…

A: Trade discount is the amount which is levied on the price of the product when it is sold to the…

Q: When would Runway record the $25 Referral Credit? What are the entries Runway would record when the…

A: Journal: Recording of a business transactions in a chronological order.

Q: MusicPalace specializes in sound equipment. Company records indicate the following data for a line…

A: Inventory valuation refers to the process of assigning a monetary value to the inventory of a…

Q: Complete

A: Financial Analysis and Ratio Analysis Financial Analysis Financial analysis is evaluating the…

Q: any el Ahuehuete, S.A., shows you the data of the credit applicants. Without knowing the rules and…

A: Giving credits to clients require analysis of income and expenses and depending on that credit may…

Q: se Excel Skills in completing these requirements. You must use formulas and functions, cell…

A: Multi Step Income Statement In the multi step income statement it project the income statement in…

Q: ore has a sale with 10 % off every item. When you enter the store, you receive a coupon that states…

A: Companies provide different amount of discounts to the customers and these are given to increase and…

Q: Nevada Company provided services with a list price of $48,500 to Small Enterprises with terms 2/15,…

A: Formula: Net cash received = List price - discount where, Discount = List price x discount rate

Q: Calculate the amount and the percent of total. Do not round intermediate calculations. Round the…

A: The cost of quality refers to the cost which is incurred in improving the quality of the product or…

Q: Enter the letter for each term in the blank space beside the definition that it most closely…

A: Meaning of Sales discount Sales discount is the amount of discount given on the amount of sales made…

Q: ou are a merchandising company. Please make a random list of accounts with their balances that you…

A: Merchandising company is that company which deals in purchase and sale of merchandise and this type…

Q: Mei-Ling will buy the. items listed below. She has a score-valued card worth $150. The store…

A: Given that if she uses her credit card to pay for any part of the purchase she will get 5% discount.…

Question

This question is for business math using the single trade discount and net price.

Complete the following table: (Do not round intermediate calculations. Round your final answers to the nearest cent.)

A treadmills list price is $3,000. Use the chain discount of 9/4 to get the net price and the single trade discount.

Please explain how I work out both the single trade discount and the net price using the list price and the chain discount. So I can learn how to work out a problem like this for my midterm next week. For the net price, I got $180.00 but I am not sure if that is right.

Expert Solution

This question has been solved!

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

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step 3

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 3 steps with 4 images

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

A computer lists for $ 600. 1. Find the trade discount if a discount rate of $ 10 is offered. 2. Find the net price. 3. Find the net price rate. 4. Use the net price rate to recalculate the net price.
I want to give my customers a discount that whey they buy one of my products they get the other item for 50% off. “buy 1 and get the 2nd item for 50% off”. Please provide a sample problem including the debit and credit entries. Thank you. Strictly no plagiarism please.
1. How should the $25 Referral Credit be recorded in Runway’s incomestatement?2. When would Runway record the $25 Referral Credit? What are the journalentries Runway would record when the $25 Referral Credit is earned bythe Existing Customer? What are the journal entries Runway would recordwhen the $25 Referral Credit is redeemed against a $100 purchase madeby the Existing Customer?3. Runway is planning to adopt IFRSs in the near future. What is the relevantaccounting guidance it would follow under IFRSs?
This module discusses discounts given out to customers based on payment terms, such as 2/10, n/30. : What would the credit terms 3/15, n/45 stand for? Explain why it is important for a company to keep track of how much money in discounts is given out? What account is used to track discounts? From a business owner's point of view, what are the advantages of allowing discounts? From a business owner's point of view, what are the disadvantages of allowing discounts?
II. TRUE OR FALSE Directions: Read each sentence carefully and determine whether the statement is TRUE or FALSE Write your answers on the space provided before each number. 1. liventory is the most importaní asset of a merchandising firm. 2. The sales journal can be used to record sales with immediate cash payments. 3. Under the sale term /10, net 30, the discount is valid until the 10th dav from the date of purchase. 4. Inventories are assets acquired which are held for sale in the ordinary course of the business. 5. Postings to the ledger shall be made on a chronological! order. 6. Information in subsidiary ledgers may come from special journals or the general journal. 7. Paying freight on merchandise sold increases the business' total assets. 8. The purchase of merchandise will increase cost of goods sold under the periodic inventory system, regardless of whether the purchase vas made on cash basis or on account.
please help me solve both questions
Can you please provide answers for these multiple choice questions below ? AND ALSO FIND WHICH TEST BANK DO THESE QUESTIONS COME FROM?
3. If a retailer bought n numbers of goods at P price each, he sold each good at a rater marked up on the selling price. Describe how to find the selling price and the gross margin for each good. How is the gross margin used in sales? 1S 4. After learning the concept of mark up, how would you assess your market value in terms of abilities? What can you do to increase your market value?
Use estimation to select the best response. Do not calculate.If I pay off my credit card balance each month, the most important cost factor is Use the editor to format your answer
Use the assumptions below to create calculations to determine annual and monthly revenue projections for each of the categories. Be sure to make the revenue category on the pro-forma view (above) descriptive and use your assumptions as drivers for the values calculated. Make it easy to change the assumptions to determine the impact of a change (up or down) in volume, rates and discounts. Insert lines or columns as needed. Camps and Schools require physicals before kids arrive. There are 150 camper physicals spread evenly in May and June. There are 500 school physicals, 25% in July, 65% in August, and 10% in September. The insurance companies in covering families in your community are split 50% BC/BS and 40% United Healthcare and no insurance (private pay). Your normal camper physical charge is $115. You give BC/BS an 18% discount and United Health care a 15% discount. The special promotion for campers without insurance (private pay) is $75. Camper Physical $ 115 Payor -…
Please help me answer the questions correctly. Thank you!
Please help me to solve this problem