Im not sure, sorry, I wish I could help
Answer:
When a discount is given as 2/12, Net 32, it means that the customer is allowed a 2% discount if they pay off their purchase in 12 days. If they don't, they would have to pay off the full amount in 32 days.
The Cost of a firm's credit is calculated by the formula:
= Discount %/ ( 100% - Discount %) * (360/Allowed payment days - Discount days)
a. 2 / 12, Net 32
= (2%/ (100 - 2% )) * (360 / (32 - 12))
= 36.73%
b) 3/15, Net 36
= (3%/ (100 - 3% )) * (360 / (36 - 15))
= 53.02%
c) 2.5/18, Net 35
= (2.5%/ (100 - 2.5% )) * (360 / (35 - 18))
= 54.30%
d) 2.25/20, Net 38
= (2.25%/ (100 - 2.25% )) * (360 / (38 - 20))
= 46.04%
Answer:
D. $109,000
Explanation:
The total selling expense which is an element of the income statement is the sum of the marketing expense and the sales commission.
The sales commission as given is a percentage of the number of units sold.
Total selling expense
= $65,000 + (10% * $40 * 11,000)
= $65,000 + $44,000
= $109,000
Answer:
d. contracts for the sale of goods.
Explanation:
Common law governs all the contracts that are related to employment, services, real estate or construction, insurance, etc
But it does not govern that contract who are related to the Uniform Commerical code (UGC) or by regulations agencies who operates in administrative services
Like the sale or leasing of goods covered under the Uniform Commerical code (UGC) so the same does not come under the common law
hence, the correct option is d
