During May, Jimmy spent $700 to buy 20 products and sold 4 of them for $60 each. Jimmy should record as an expense for May. A. $1,200 B. $240 C. $700 D. $140
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- Sadia sells car first aid kits by mail order. The cost to her of each kit purchased from the manufacturer is £12.50. Her selling price per kit is £18.25. At the beginning of August 20X1 she has 180 kits in inventory. She sells 250 kits during August 20X1 and has 153 left in inventory at the end of the month. What is Sadia’s gross profit for the month of August 20X1? A. £1 437.50 B. £4 562.50 C. £1 282.25 D. £2 787.5023. Mrs. Racelis, an entrepreneur, purchased 500 bags of cement at P 240 per bag If she sold 500 bags at P 35,000.Compute for the percentage of gross margin. a.45.71% b. 55.5% C.42.1% d.31.45% 24.A final price after deducting all discounts and rebates. d. Purchase price 25.It is the amount by which the retail price of a product is reduced by the manufacturer when it is sold to the a.Net sale b. Net earnings c. Net price reseller or customer. a. Trade discount c. Net price d. Net earnings Retail Price 26.This will be obtained by dividing the trade discount to selling price. .Trade discount b. Discount rate c. Net earnings d. Net price 27. These are given to customers in order to encourage them to purchase in volume. It is also effective in promoting seasonal items and to entice new set of customers. a. List price b. Discount series c. Discount d. Trade discount 28. An item worth 10,000 is now selling with discount. Of the following discount series, which has a greater discount? d. 15%,…Sadia sells car first aid kits by mail order. The cost to her of each kit purchased from the manufacturer is £12.50. Her selling price per kit is £18.25. At the beginning of August 20XI she has 180 kits in inventory. She sells 250 kits during August 20X1 and has 153 left in inventory at the end of the month. How many first aid kits has Sadia purchased in August 20X1? A. 277 B. 403 C. 250 D. 223
- Anna has the following income for the quarter: a. Professional income P80,000 b. Income from her business P30,000 c. Compensation income P40,000 d. Interest income from bank deposit P10,000. 1. What amount of income will Anna report in her quarterly income tax return? a. P80,000 b. P110,000 c. P120,000 d. P150,000 2. If Anna, opted to use 8% rate, how much is her income tax due in her quarterly ITR? a. P6,400 b. P8,800 c. P9,600 d. P12,000points Karl works at Moe's grocery. This year Karl was paid $43.000 in salary but he was allowed to purchase his groceries at 10% below Moe's cost. This year Karl spent $3.600 to purchase groceries costing Moe $4,000 and worth $6,000. What amount must Kart include in his gross income? A $46,600 B$47,000 OC $49,000 D. 543,400 E $45,5002. Richard Lenz receives 35-cammission for selling cleaning supplies. What is his commission on sales of $122,591? Hight 3. Yo Commmu of the selliftg pricO VI Or What jotal
- 11. ALGEBRA Fatima Sheroud sells children's clothing for The Grasshopper Shoppe. She is paid weekly on a straight commission of 4% on sales of $5,000.00 or less and 5% on sales in excess of $5,000.00. One week Fatima had a gross pay of $594.50. What were her total sales for that week? nts reserved.A clothing merchant purchases a shipment of clothes for $37,000.00 with discounts of 11% and 5%. He sells it to a customer at a price which includes 21% profit on cost and overhead expenses of 23% on cost. a. How much did it cost him to purchase the container of clothes? $0.00 Round to the nearest cent b. What was the selling price of the container of clothes? 50.00 Round to the nearest cent c. Calculate the break-even selling price. 50.00 Round to the naarast cantKaren sold 38 laptops at the price of 250 RO per laptop. if he receives a commission rate of 15% of sales, What commission did he earn? Select one: a. 1350 O b. 37.5 O c. 287.5 O d. 1425
- Ester has a small store. For the current month, she purchased merchandise costing 75000 for which she paid for 7500. She sold 60% of the merchandise for 68000, after spending for various expenses totaling 13000. She also paid 2000 for the interest on a money she borrowed for her store. a. How musch was her cost of sales?b. How much gross profit did she make?c. How much operating profit did she make?Beth's living expenses for the next 4 weeks total $1600. If Beth earns the same commission plus sales each week, based on her weekly net pay, how much will she have after 4 weeks and will she have enough money to pay all her bills?* Your answer4. Andrew Sanders sells sports equipment and is paida commission of 5.55% on regular price items and 4.5% on sale price items. What is the total commission for a week when he sells $8,880 worth of regular price sportswear and $10,648 of sale price sports equipment?