Write a word problem involving a discounted price. Describe the situation and pose the question, but DO NOT SOLVE the problem.
Identify the categories of debt and equity securities, and describe the accounting and reporting treatment for each category.
Sure, here's a word problem involving a discounted price:
Situation:
Jane went shopping and found a pair of shoes that she really liked. The original price of the shoes was $80. However, the store was offering a discount of 20% off on all shoes.
Question:
What is the discounted price Jane will have to pay for the shoes?
Explanation of how to solve the problem:
To find the discounted price, we need to calculate 20% of the original price and subtract it from the original price. Here's how you can do it:
1. Calculate 20% of $80: Multiply $80 by 20% (or 0.20). This can be done by multiplying 80 by 0.20.
2. Subtract the result obtained in step 1 from the original price: Subtract the product obtained in step 1 from the original price of $80.
3. The final result will be the discounted price that Jane will have to pay for the shoes.
Note: While I haven't provided the specific answer here, you can easily calculate it by following the steps I've outlined above.