User Account

All Pages

What is the original selling price of the jacket

Assignment Help Accounting Basics
Reference no: EM132705747

Questions -

Q1. Liz bought leather jackets for her boutique at a cost of $275.00 each. The jackets were marked up so that operating expenses were 15% of the cost and profit was 45% of the selling price. During her annual spring sale, six jackets remained unsold, and Liz reduced the price to $350.00 each.

(a) What is the original selling price of the jacket?

(b) What was the rate of markdown for the remaining jackets?

Q2. Aspire Industries received an invoice for $3,000 on March 10thand then another invoice on March 31st for $3,500. Both invoices have terms 3/10, n/30. Aspire sent in a cheque for a payment of $1,000.00 on March 19th.

(a) What is the outstanding balance on the first invoice after the March 19th payment?

(b) If the final payment is made on April 15th, what is the amount of the cheque that needs to be sent in?

Q3. Sam invested $7,500 in a savings account and after 6 months the balance in the account is $7,612.50. What rate of interest did Sam earn?

Q4. On April 15th Tony put $3,000 in to a savings account that earns interest at a rate of 2.5%.

(a) What is the amount of interest Tony earned by December 31st?

(b) What is the balance of Tony's savings account on December 31st?

Reference no: EM132705747

Questions Cloud

Why did karl marx believe that workers in capitalist society : Why did Karl Marx believe that workers in capitalist societies experienced alienation From what specifically did he claim that workers were alienated?
Describe the relationship between stress and health : Describe the relationship between stress and health. Describe a stressful situation that you have experienced at work or personally. Provide one approach.
Various relationships established by organized crime : Identify the problems presented and the various relationships established by organized crime.
Provide one example of geographical location in san antonio : Provide one example of a geographical location in San Antonio that corresponds to the lower class, middle class or upper class.
What is the original selling price of the jacket : Liz bought leather jackets for her boutique at a cost of $275.00 each. What is the original selling price of the jacket
Would your height be considered unusual : The average height for all males is 69.3 inches, with a standard deviation of 2.8 inches. For females, the average height is 64 inches, and the standard.
Analyze current project documents : The significance of project quality will be discussed along with some project quality management tools and techniques. In project budgeting phase
How that process may vary depending on race : Explain how that process may vary depending on race/ethnicity, socioeconomic class, sex/gender, sexual orientation, and life stage.
Element of counterintelligence in cyber domain : Independently research an element of counterintelligence in the cyber domain. Search criteria to help you might include

Reviews

Write a Review

Accounting Basics Questions & Answers

  Example of managing earnings up

Which of the following is an example of managing earnings up?

  How will you show the following items in the balance sheet

how will you show the following items in the balance sheet of a company? these are the parts u need to explain it to me

  Sr disclosed the effect of lifo liquidations net of income

the following table contains data obtained from annual reports of sr a shoe manufacturer and retailer years ended

  Total cash dividends and dividends per share

Determine the total cash dividends and dividends per share paid to the preferred and common stockholders during each of the three years.

  Demonstrate what would happen to the return on equity

Demonstrate what would happen to the Return on Equity and the Net Debt to Equity Ratios if your allocated company just prior to the end of the financial year

  Fact pattern for questions 11 and 12 sandra owned a rental

fact pattern for questions 11 and 12 sandra owned a rental apartment building in her sole name for four years. after

  Various allocation methods

At least one scholarly source, describe how service center costs are allocated using the various allocation methods. Illustrate its use by using a health care example.

  Calculate indifference point between the two cost structures

Calculate the indifference point between the two cost structures, that is, the amount of unit sales that produce exactly the same operating income for Company

  At what amount should fine record the new truck

The exchange lacked commercial substance. At what amount should Fine record the new truck

  Cost of goods manufactured problem

The total manufacturing costs added to production during the period is $110,000. The materials inventory increased from the beginning to the end of the period by $12,000, while the work in process inventory decreased from the beginning to the end ..

  How many years until he can establish the foundation

If Lee plans to establish the DL Foundation once the fund grows to $1,898,000, how many years until he can establish the foundation

  Complete the balance sheet using cash flow data

Complete the balance sheet using cash flow data. Following is a partially completed balance sheet for Epsico, Inc., at December 31, 2013, together with comparative data for the year ended December 31, 2012.

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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