FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Kindly help me with accounting questions
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- A jewelry store sells diamond rings, silver charms, gold bracelets and pearl necklace. The proprietor Amanda usually sets a selling price for silver charms based on a markup on cost of 80%. Pearl necklaces have a markup og 60%. All other items are sold 100%. She buys gold bracelets for $125 each. Use this information. What is the selling price of a diamond ring that Amanda purchases for $1,400?arrow_forwardElsa bought some kitchen supplies from an online store. For shipping the store charges a $8.65 flat fee or 8.75% of the total purchase, whichever is greater. Suppose Elsa's total purchase is $85. How much shipping will they pay? Round to the nearest cent.arrow_forwardAnna sells a certain pair of earrings at her store for $45.20 per pair. Her overhead expenses are $5.00 per pair and she makes 40.00% operating profit on selling price., Round to the nearest cent a. What is her amount of markup per pair of earrings? b. How much does it cost her to purchase each pair of earrings? Company A and Company B sell the same model camera for $110 and $135, respectively. During a sale, Company A offers a discount of 10% on the camera. What should Company B's rate of markdown be on the camera to match Company A's sale price?arrow_forward
- 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 cantarrow_forwardSuzanne sells authentic Amish quilts on her website. Suppose ss attachedarrow_forwardA gift shop owner purchases items to sell in her store. She purchases a chair for $125 and sells it for $275. Determine the following: a. dollar markup b. markup percentage on cost c. markup percentage on selling pricearrow_forward
- Ashley bought a bracelet at original cost $19 to sell in her handicraft store. She marked the price up 35%. a) Find the amount of the mark-up price. A b) Find the list price. SA (Round to two decimal places if necessary.) (Round to two decimal places if necessary.)arrow_forwardIvy purchases phones for $260.50 each and is selling them for $330.00 each. a. What is the rate of markup on cost? % Round to two decimal places b. What is the rate of markup on selling price?arrow_forwardYou are buying and reselling items found at your local thrift shop. You found an antique pitcher for sale. If you need a 46% markup on cost and know most people will not pay more than $25 for it, what is the most you can pay for the pitcher? Note: Round your answer to the nearest cent. Maximum pay Iarrow_forward
- A woman’s store sells the following categories of clothing or the following prices : Blouse :GH 14 Skirt:GH 16 Dress:GH 25 Pantyhose:GH 2 pair for GH3 Socks :GH 7 A lady goes to the store on a day when the store has 20% off sale on all skirts.If Yaa buys 2 skirts,1 dress ,and 4 pairs of pantyhose,How much money does lady have to pay ?arrow_forward3. Julia buys a notebook with a cost of PhP45. The rate of mark-up based on cost is 25%. Find the selling price and the mark-up. Peter decides to impose a mark-up of PhP5 on each pen he sells to his classmates and friends. This represents a 20% mark-up based on the selling price. Find the cost and the selling price of the pens Peter sells. 5. A top costs Mang Mario PhP280 and he decides to mark it up by 30% of the selling price. Find the selling price and mark-up for the said top.arrow_forwardPlease helparrow_forward
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