How much is the monthly payment

Assignment Help Financial Accounting
Reference no: EM132915032

XYZ Company sold cellphones on installment basis on July 1, 2015. The unit cost to the company was Php 388,800 but the installment selling price was set at Php 550,800. Terms of payment included the acceptance of used cellphones with trade in allowance of Php 194,400. Cash of Php 32,400 was paid in addition to the traded in cellphones with the balance to be paid be paid in ten monthly installments die at the end of each month commencing the month after the month of sale. It would require Php 8,100 to recondition the used cellphones so that it could be resold for Php 162.000. A 15% gross profit was usual from the sale of used cellphones.

Problem 1. What is the fair value traded in merchandise?

Problem 2. How much is the under/ (over) allowance in trade in?

Problem 3. What is the Gross Profit rate?

Problem 4. How much is the monthly payment?

Problem 5. How much is the Realized Gross Profit in 2015?

Reference no: EM132915032

Questions Cloud

What journal entry to record on friday would involve a debit : Previous Friday, and an entry is made each Friday to accrue the payroll for that week, the journal entry to record on Friday would involve a debit to
Calculate the amount of losses : Assuming that all the defendant in the case are financially able to pay their share of the losses, calculate the amount of losses
Principles of effective oversight of e-payment gateways : 1. What are some principles of effective oversight of e-payment gateways that central banks (such as State Bank of Pakistan) can utilize to monitor e-payment ga
Description of the stabilization functions of financing : 1. A well elaborated description of the Stabilization functions of financing is required
How much is the monthly payment : How much is the under/ (over) allowance in trade in? How much is the Realized Gross Profit in 2015? How much is the monthly payment?
Identify the ongoing set of competitive actions : Identify the ongoing set of competitive actions and competitive responses occurring between Tesco and its rivals as they compete against each other for an advan
What was the income from operations : If the contribution margin ratio for Martinez Company is 40%, sales were $$34,800,000, and fixed costs were $1,500,000, what was the income from operations
Explain the concept of unreasonableness : 1. Explain the concept of unreasonableness when courts are trying to determine the fate for the business law cases
Describe the ways in which ai can be applied to apm : Describe the ways in which AI can be applied to APM and Detscribe the evolution process of AI

Reviews

Write a Review

Financial Accounting Questions & Answers

  How is a non-controlling interest disclosed

What is a non-controlling interest, and how is a non-controlling interest disclosed in consolidated financial statements?

  How much should contribute into the savings account annual

You would like to begin saving for child, How much should you contribute into the savings account annually to have enough saved when your child begins college?

  Prepare the adjusting entry in journal form for december

Fargo Voice of Fargo, North Dakota, publishes a monthly magazine featuring local restaurant reviews and upcoming social, cultural, and sporting events.

  Is more important for a business to have positive cash flows

Is more important for a business to have positive cash flows from operating activities, investing activities, or financing activities? Explain in detail Why?

  Find what is the journal entry to record the issuance

Find what is the journal entry to record the issuance of bonds on 1 st January, 2010?

  How many months will take

CEO plans to increase production at a rate of 5.24 percent per month until the firm is producing 7,282 of refrigerators per month. How many months will take?

  What is the acquisition of westmont company

What are Arturo's journal entry to record its acquisition of Westmont? What are the legal fees related to the combination? What is the acquisition of Westmont

  What is the sales discount for teesdale real estate

Peachtree automatically calculates financial statements once journal entries have been journalized and posted - The income statement is a summary of the revenue and expenses of a company for a period of time, such as an accounting period or a year.

  By using the project data fill out forms

By Using the above Project Data fill out attached form 1120S, form 1120C, 1125A, Form 1120, Form 1065 and 1065b.

  Find what is the expected return on equity

Repay the debt plus interest, regardless of the state of the economy. What is the expected return on equity? What is the expected return on assets?

  Calculate equivalent units of production

Per the attached document, could you please explain to me how to calculate the 1900 units under materials and conversion for number of units transferred to the next department under equivalent units of production was calculated?

  What is the cross-over rate

What two consecutive cash flows in years 4 and 5 of project B would equalize its NPV to the NPV of project B, assuming a 12% rate of return?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd