Assignment 1 - Speech or Presentation Example

Assignment 10. A man gets an invoice for $450 with terms 2/10 15, n/29. How much would be pay 23 days after the invoice date?He will pay the net amount because he pays past the discount periodHe would pay $45011. An invoice for a camcorder that cost $1,230 is dated August 3, with sales terms of 3/10 EOM. If the bill is paid on September 5, how much is due?Payment is still within the 10 days of the month after the month on the date of the invoice, so the discount is given.Discount= 0.03*1230= $36.

9Net amount due= 1230-36.9=$1193.1The net amount due is $1193.112. An invoice for $700 is dated October 6 and has sales terms of 5/10 ROG. The merchandise arrives October 19. How much is due if the bill is paid October27?5% discount is taken because the invoice is paid within 10 days after the receipt of the goods (ROG). Discount= 0.05*700= $35Net amount= 700-35=$665The net amount due is $66513. Kareem Salam is directing the accounts payable office and is training a new account payable associate.

They are processing an invoice for a credenza that is dated August 19 in the amount of $ 392.34. The delivery ticket for the credenza is dated August 23. If the sales terms indicated on the invoice are 4/10 ROG, how much needs to be paid if the bill is paid on September 5?4% discount is not taken because the invoice is paid after 10 days (13 days later) after the receipt of the goods (ROG), so the total amount is paid. The net amount due is $392.3414. A printing shop received a shipment of goods from a distributor.

The bill of lading was marked freight collect. Who paid the freight? To who was the freight paid?Choose the correct answer.⃝A The Nobody paid the freight.⃝B The repair shop paid the freight to the distributor.C The distributor paid the freight to the freight company.⃝D Both paid the freight.15.Selling price = $37.99; Markup = $14.99. Find the cost.The cost is $23Cost=selling price-markup (37.99-14.99) $2316. Markup = $80; Rate of markup based on cost = 83%a. Find the cost.Markup=83% of costTherefore, 0.

83*cost=$80Cost=$80/0.83= $96.39b. Find the selling price. SP=Cost + markup (80+96.39=176.39a. The cost is $96.39 b. The selling price is $176.39 17. Nineteen decorative enamel balls cost $12.76 each and are marked up $9.62.a. Find the selling price for each one. (12.76+9.62=22.38)b. Find the total amount of margin or markup for the 19 balls.$9.62*19=$182.78a. The selling price for each one is $22.38 b. The total markup for the 19 balls is $182.78 18. A sofa cost $373 and sells for $634.10, which is 170% of the cost.a. Find the rate of markup.

Rate of markup= (markup/cost) 100=[(634.1-373)/373]100=70%b. Find the markup. SP-cost= 634.1-373= $261.1a. The rate of markup is 70%b. The markup is $261.1 19. What is the cost of a sink that is marked up $166 if the markup rate is 60% based on cost?Markup= markup rater*costCost=markup/markup rateCost= $166/0.6= $276.67The cost is $276.67 20. Selling price = $1,860; cost = $741. Find the rate of markup based on the selling price. Round to the nearest tenth of a percent.Markup=1860-741= $1119Rate of markup = markup/selling price) 100=1119/1860)100= 60.

20%The rate of markup is 60.20%21. Markup rate based on selling price = 14%; markup = $270. Find the selling price. Round to the nearest cent.Selling price=markup/markup rateSP=270/0.14= $1928.57The selling price is $1928.5722. An item has a 24% markup bases on selling price. The markup is $400.a. Find the selling price.SP=markup/rate of markupSP=400/0.24= $1666.67b. Find the cost.Cost=SP-markupCsot=1666.67-400= $1266.67Round to the nearest cent.a. The selling price is $1666.67 b. The cost is $1266.6723.An iteam sells for $32 and is reduced to sell for $12.

Find the markdown amount and the rate of markdown.markdown= 32-12= $20Markdown rate=( markdown/original price)100=(20/32)100= 62.5%The markdown amount is $20The rate of markdown is 62.5% 24. An item is originally priced to sell for $75 and is marked down 20%. A customer has a coupon for an additional 20%. What is the total percent reduction?20% off implies the customer pays 80% (0.8*75= $60)20% off mean the customer pays 80% (0.8*60= $48)48/75=64% is paidTotal percentage reduction= 100-64= 36%The total percent reduction is . 36%25. Paul’s Grocery received 1,000 pounds of onions at $0.

11 per pound. On the average, 3% of the onions will spoil before selling. Find the selling price per pound to obtain a markup rate of 180% based on cost.The selling price per pound is $0.21Cost= 1,000(0.11)= $110Amount that could be sold= (0.97)1000= 970. poundsRevenue should be 1.80*110= $198let selling price be p970p= 198P= 198/970P=$0.21 26. A director of accounts recevied a bill for $642, dated April 5, with sales terms 2/10, 2/15, n/30. A 3% penalty is charged for payment after 30 day. If the director of accounts pays on after May 6, how much must he pay?

Since the director paid after 30 day (33days later), the fine must be paidfine= 3% of $642=$19.26Total bill=$642+19.26=$661.26The total bill is $661.26