Large fluffy towels were on sale at a discount of 30%. If the sale price was...
Find the amount of discount and the sale price. Original Price $396.50 Sale Price Discount Rate 40% Amount of Discount Sale Price Original Discount Amount of Price Rate Discount $396.50 40% (Round to the nearest cent as needed.)
On 1 July 2015, Fluffy Ltd acquired all the issued shares of Glider Ltd. Fluffy Ltd paid $30 000 in cash and 20 000 shares in Fluffy Ltd valued at $3 per share. At this date, the equity of Glider Ltd consisted of $66 000 share capital and $6000 retained earnings. At 1 July 2015, all the identifiable assets and liabilities of Glider Ltd were recorded at amounts equal to their fair values except for: Additional information (a) Fluffy Ltd...
400 Problem 3: Softtowel Ltd manufactures towels for department stores and residential hotels. The financial controller is concerned that the profits for last year were 15 per cent below the previous year and plans to calculate the profitability of the three main customer groups: department stores, small hotels, and large hotels. Last year the selling price and manufacturing costs for the three major products - bath sheets, bath towels and hand towels - and sales to customer groups, were as...
its Department R. Recyclers, Inc., processes donated scrap cloth into towels for sale in local thrift shops. It sells the products at cost. The direct materials costs are zero, but the tracks the processing volume and costs incurred in each period. At the start o- the current period, 300 towels were in process and were 60 percent complete. The costs incurred were $186. During the month, costs of $10.800 were incurred, 3.600 towels were started, and 150 towels were still...
There were no sale discounts taken Bolton sold a customer service contract with a price of $41,000 to Sammy's Wholesale Company. Bolton offered terms of 1/10, n/30 and expects Sammy to pay within the discount period. Prepare the journal entry assuming the payment is made after 10 days (after the discount period). If an amount box does not require an entry, leave it blank.
A flower shop makes a large sale for $1,000 on November 30. The customer is sent a statement on December 5 and a check is received on December 10. The flower shop follows GAAP and applies the revenue recognition principle. When is the $1,000 considered to be recognized? O December 5 O December 10 December 1 O November 30
3) Karen has bought a TV with 20% discount (20% sale event). She ended up paying $400. Ignoring the tax, what is the original price of the TV? (1.5 marks)
Greenwall's department store is having a sale on all of the televisions in the store. The televisions come in three different size screens. The sizes are classified as small, medium, or large screen televisions. The ratio of small screen to medium screen to large screen televisions is 3:10:15. There are 91 more medium screen televisions than small screen televisions. Each of the small screen televisions regularly sells for $280.00 and each of the mediunm screen televisions regularly sells for $360.00....
Janna’s Fine Flowers sold 105 dozen roses for $600. Terms of the sale were 2/10,n/30. If the customer pays within the discount period, the amount of the sales discount will be
What was the trade discount rate if items sold with a list price of $7,150 were sold at a net price of $5,620? (Round to the nearest whole percent.) 21% • 25% 75% 79%