Sunday
April 19, 2015

Homework Help: college

Posted by Bae on Wednesday, April 8, 2009 at 2:38pm.

1)The credit terms 2/10, n/30 are interpreted as?
2% cash discount if the amount is paid within 10 days, with the balance due in 30 days.
10% cash discount if the amount is paid within 2 days, with balance due in 30 days.
30% discount if paid within 2 days.
30% discount if paid within 10 days.
2% discount if paid within 30 days.

2) A company's net sales were $676,600, its cost of good sold was $236,810 and its net income was $33,750. Its gross margin ratio equals?
5%.
9.6%.
35%.
65%.
285.7%.

3)A company's warehouse was destroyed by a tornado on March 15. The following information was the only information that was salvaged:

(1.) Inventory, beginning: $28,000
(2.) Purchases for the period: $17,000
(3.) Sales for the period: $55,000
(4.) Sales returns for the period: $700

The company's average gross profit ratio is 35%. What is the estimated cost of the lost inventory?
$ 9,705.
$25,995.
$29,250.
$44,000.
$45,000.

Answer this Question

First Name:
School Subject:
Answer:

Related Questions

finance - a $200 cash advance by using checks linked to to her credit card ...
Business math - Calculate the cash discount and the net amount due for the ...
Accounting- Help Please - Accounting Help-Preparing and posting journal entries...
math - Calculate the cash discount and the net amount due for the following ...
accounts tax - what is the correct VAT payable for a hi-fi unit costing 255.55 ...
Finance - Carnation needs to buy a $12,500 part the part company is offering ...
ashford - At the beginning of 2012, the Jeater Company had the following ...
business mathematics - What is the cash discount and net amount paid if the ...
accounting help - How to prepare this entries Preparing and posting journal ...
accounting - Question 2.) Hawkeye Electric Company engaged in the following ...

Members