Question
2. Solve the problem.(Part 1) A furniture store has an average inventory of $5444 at retail, and an average inventory of $3460 at cost. The
2. Solve the problem.(Part 1) A furniture store has an average inventory of $5444 at retail, and an average inventory of $3460 at cost. The cost of goods sold for the same period is $19,756.60 and sales of furniture were $30,867.48. Find (a) Stock turnover at cost, and (b) stock turnover at retail. Round to the nearest hundredth.
(a) 1.57, (b) 1.56 | ||
(a) 5.67, (b) 5.71 | ||
(a) 3.63, (b) 8.92 | ||
(a) 5.71, (b) 5.67 |
3. Solve the problem. After using a new order of typewriter ribbons, John's Office Services found that a new ribbon could be used to type 76 pages. This was a decrease of 15.5% of pages from the old ribbons. How many pages could John's Office Services type with an old ribbon? Round to the nearest whole number.
104 pages | ||
81 pages | ||
76 pages | ||
90pages
6) (Part 2) On a new oak bookcase with a list price of $882, a series discount of 15/5/5 is offered to wholesalers while a series discount of 15/15 is offered to retailers. a) What is the wholesalers price? b) What is the retailer's price? A) ( a) $676.60; (b) $244.76 B) ( a) $661.50; (b) $220.50 C) ( a) $205.40; (b) $244.76 D) ( a) $676.60; (b) $637.25 7) A company recorded its check #2754 in its accounting records as $98. However, check #2754 was actually written for $89 and it cleared the bank as $89. What adjustment is needed to the Cash balance per books? A) Decrease by $9 B) Increase by $9 C) None Needed D) Refund of $9 to the check recipient 9) Charles Nave, bank teller, has weekly earnings of $610. He is married and claims 3 withholding allowances. His deductions include FICA, Medicare, federal withholding, state disability insurance, state withholding, and credit union savings of $50. Find his net pay. $ 463.21 B) $ 453.51 C) $ 425.49 D) $ 513.21 |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started