If you give me wrong answer, I will give you un helpful rate. Vic's Jewelry Store bought a diamond ring for $1,500. Vicwants to mark up the set at 45 percent of the selling price.The selling price of the diamond ring should be:a. $2,727.27b. $2,325.00c. $2,175.00d. $3,333.33

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Answered: Vic's Jewelry Store bought a diamond…

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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A jewelry store sells diamond rings, silver charms, gold bracelets and pearl necklace. The proprietor Amanda usually sets a selling price for silver charms based on a markup on cost of 80%. Pearl necklaces have a markup og 60%. All other items are sold 100%. She buys gold bracelets for $125 each. Use this information. What is the selling price of a diamond ring that Amanda purchases for $1,400?
A clothing merchant purchases a shipment of clothes for $37,000.00 with discounts of 11% and 5%. He sells it to a customer at a price which includes 21% profit on cost and overhead expenses of 23% on cost. a. How much did it cost him to purchase the container of clothes? $0.00 Round to the nearest cent b. What was the selling price of the container of clothes? 50.00 Round to the nearest cent c. Calculate the break-even selling price. 50.00 Round to the naarast cant
6. A sari-sari store vendor buys some goods from a dealer who asks P15,950 at the end of 180 days. The vendor prefers to pay price at 13% simple interest. Find the cash price of the goods. cash and the dealer offers to compute the cash 7. Edward Cariaga loans P35,300 at 6½% simple interest, how long it will take him to get P3,800 interest? 8. Elmer Martin paid P26,800 on a loan made 4 months before at 92% simple interest. Find the interest generated. 9. If a principal of P13,300 earns interest of P1,500 in 3 years and 6 months, what interest rate is in effect? 10. Ruel Dayrit deposited P80,250 in a bank paying 5% simple interest for 4 years. How would he have in his account at the end of four years assuming that no withdrawals were made?
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1
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Vic's Jewelry Store bought a diamond ring for $1,500. Vic wants to mark up the set at 45 percent of the selling price. The selling price of the diamond ring should be: a. $2,727.27 b. $2,325.00 c. $2,175.00 d. $3,333.33