Professional Documents
Culture Documents
Discounts:
Assignments
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2009 South-Western, a part of Cengage Learning
73
1
2009 South-Western, a part of Cengage Learning
74
2
2009 South-Western, a part of Cengage Learning
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2009 South-Western, a part of Cengage Learning
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2009 South-Western, a part of Cengage Learning
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Figure 7.1
Sales Invoice
78
Figure 7.2
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1. Net purchase =
Invoice amount Merchandise returns Freight
2. Cash discount =
Discount rate Net purchase
3. Cost of merchandise =
Net purchase Cash discount
4. Remittance =
Cost of merchandise + Freight, if any
4
2009 South-Western, a part of Cengage Learning
710
5
2009 South-Western, a part of Cengage Learning
711
712
Problems 13: Find the dollar amount of the trade discount and the net price, using the
discount method. Problems 46: Find the complement rate and the net price, using the
complement method.
1
2009 South-Western, a part of Cengage Learning
713
714
Find the amount of each discount in the given series of trade discounts. Then find the net
price. Where a discount doesnt exist, write a dash.
2
2009 South-Western, a part of Cengage Learning
715
716
Find the complement rate for each discount in the given series of trade discounts. Then
find the net price, using the complement method. Where a complement rate doesnt exist,
write a dash.
2
2009 South-Western, a part of Cengage Learning
717
718
Find the complement rate for each discount in the given series of trade discounts. Then
find the equivalent single discount rate, to the nearest 1/10 of a percent.
3
2009 South-Western, a part of Cengage Learning
719
720
721
Solve each of the following business applications about trade discounts. Use either the
discount method or the complement method.
1,2
2009 South-Western, a part of Cengage Learning
722
723
For the following problems, find the discount date, the due date, the amount of the cash
discount, and the amount of the remittance.
4
2009 South-Western, a part of Cengage Learning
724
For the following problems, find the discount date, the due date, the amount of the cash
discount, and the amount of the remittance. (contd)
4
2009 South-Western, a part of Cengage Learning
725
For the following problems, find the discount date, the complement rate, and the amount
of the remittance.
4
2009 South-Western, a part of Cengage Learning
726
The following problems involve partial payments made within the discount period. Solve
for the items indicated.
5
2009 South-Western, a part of Cengage Learning
727
invoice
invoice date
list price
net price
net purchase amount
remittance
series of discounts
terms of payment
trade discounts
728