{
    "key_pair_value_system": true,
    "answer_rating_count": "",
    "question_feedback_html": {
        "html_star": "",
        "html_star_feedback": ""
    },
    "answer_average_rating_value": "",
    "answer_date_js": "2024-06-29T02:26:02-04:00",
    "answer_date": "2024-06-29 02:26:02",
    "is_docs_available": null,
    "is_excel_available": null,
    "is_pdf_available": null,
    "count_file_available": 0,
    "main_page": "student_question_view",
    "question_id": "4448184",
    "url": "\/study-help\/questions\/the-winner-company-marks-up-all-merchandise-at-25-of-4448184",
    "question_creation_date_js": "2024-06-29T02:26:02-04:00",
    "question_creation_date": "Jun 29, 2024 02:26 AM",
    "meta_title": "[Solved] The Winner Company marks up all merchandi | SolutionInn",
    "meta_description": "Answer of - The Winner Company marks up all merchandise at 25% of gross purchases. All purchases are made on account with terms 1\/ | SolutionInn",
    "meta_keywords": "winner,company,marks,merchandise,25%,gross,purchases,made,account,terms,1\/10,n\/60,purchase,discounts,recorded,miscellaneous,income,.,60%,month,s,paid,40%,first,10,days,purchaseinventories,end,30%,projected,cost,sales,2\/10,n\/30,cash,subject,discount,50%,collected,45%,succeeding,remainder,uncollectible,70%,collections,sale,10%,collection,data,selected,months,follow,acct-gross,decemberp1,900,000p,400,000,january1,500,000250,000,february1,700,000350,000,march1,600,000300,000,14,january,15,inventory,decemberis,16,payments,suppliers,february,17,customers,making,remittance,18,februaryare",
    "question_title_h1": "The Winner Company marks up all merchandise at 25% of gross purchases. All purchases are made on account with terms 1\/10 n\/60.Purchase discounts which are",
    "question_title": "The Winner Company marks up all merchandise at 25% of gross purchases.",
    "question_title_for_js_snippet": "The Winner Company marks up all merchandise at 25  of gross purchases  All purchases are made on account with terms 1 10 n 60 Purchase discounts which are recorded as miscellaneous income are always taken Normally, 60  of each month's purchases are paid for in the month of purchase while the 40  are paid during the first 10 days of the first month after the purchase Inventories of merchandise at the end of each month are kept at 30  of the next month projected cost of sales  Terms of sales on account are 2 10, n 30 Cash sales are not subject to discount 50  of each month's sales on account are collected during the month of sales  45  are collected in succeeding month and the remainder are usually uncollectible  70  of the collections in the month of sale are subject to discount while 10  of the collection in the succeeding month are subject to discount  Projected sales data for selected months follow  Month Sales on acct  gross Cash sales DecemberP1,900,000P 400,000 January1,500,000250,000 February1,700,000350,000 March1,600,000300,000 14 Projected gross purchases at the end of January is  15 Projected inventory at the end of Decemberis  16  Projected payments to suppliers during February are  17 Projected sales discounts to be taken by customers making remittance during February  18  Projected collections from customers during Februaryare ",
    "question_description": "<p>The Winner Company marks up all merchandise at 25% of gross purchases. <\/p> <p> All purchases are made on account with terms 1\/10 n\/60.Purchase discounts which are recorded as miscellaneous income are always taken.Normally, 60% of each month's purchases are paid for in the month of purchase while the 40% are paid during the first 10 days of the first month after the purchase.Inventories of merchandise at the end of each month are kept at 30% of the next month projected cost of sales. <\/p> <p> <\/p> <p> Terms of sales on account are 2\/10, n\/30.Cash sales are not subject to discount.50% of each month's sales on account are collected during the month of sales: 45% are collected in succeeding month and the remainder are usually uncollectible: 70% of the collections in the month of sale are subject to discount while 10% of the collection in the succeeding month are subject to discount. <\/p> <p> <\/p> <p> Projected sales data for selected months follow:<\/p> <p> <u>Month<\/u><u>Sales on acct.-gross<\/u> <u>Cash sales<\/u> <\/p> <p> DecemberP1,900,000P 400,000<\/p> <p> January1,500,000250,000<\/p> <p> February1,700,000350,000<\/p> <p> March1,600,000300,000<\/p> <p> <\/p> <p> <\/p> <p>14.Projected gross purchases at the end of January is:<\/p> <p><\/p> <p> <\/p> <p>15.Projected inventory at the end of Decemberis:<\/p> <p> <\/p> <p> <\/p> <p>16. Projected payments to suppliers during February are: <\/p> <p><\/p> <p> <\/p> <p>17.Projected sales discounts to be taken by customers making remittance during February:<\/p> <p><\/p> <p> <\/p> <p>18. Projected collections from customers during Februaryare:<\/p> <p><\/p>",
    "transcribed_text": "",
    "related_book": {
        "title": "Principles Of Finance",
        "isbn": "979-8439388899",
        "edition": "1st Edition",
        "authors": "Julie Dahlquist, Rainford Knight",
        "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/6290aa2348f9a_11251.jpg",
        "uri": "\/textbooks\/principles-of-finance-1st-edition-9798439388899",
        "see_more_uri": ""
    },
    "free_related_book": {
        "isbn": "3319126458",
        "uri": "\/textbooks\/device-free-object-tracking-using-passive-tags-1st-edition-9783319126456",
        "name": "Device Free Object Tracking Using Passive Tags",
        "edition": "1st Edition"
    },
    "question_posted": "2024-06-29 02:26:02",
    "see_more_questions_link": "\/study-help\/questions\/business-management-leadership-2023-June-05",
    "step_by_step_answer": "The Answer is in the image, click to view ...",
    "students_also_viewed": [
        {
            "url": "\/piston-mp-10-lbm-is-fitted-in-centrifuge-cylinder",
            "description": "A piston, mp = 10 lbm, is fitted in a cylinder, A = 2.5 in 2, that contains a gas. The setup is in a centrifuge that creates an acceleration of 75 ft\/s2. Assuming standard atmospheric pressure...",
            "stars": 3
        },
        {
            "url": "\/study-help\/psychology\/2-listen-to-family-members-and-solve-problems-with-them-1984407",
            "description": "2. Listen to family members, and solve problems with them.",
            "stars": 3
        },
        {
            "url": "\/ames-seeking-business-for-his-lawn-maintenance-firm-posted-the",
            "description": "Ames, seeking business for his lawn maintenance firm, posted the following notice in the meeting room of the Antlers, a local lodge: To the members of the AntlersSpecial this month. I will resod your...",
            "stars": 3
        },
        {
            "url": "\/study-help\/questions\/july-august-september-merchandise-purchases-210000-180000-220000-payroll-rent-9861875",
            "description": "July August September Merchandise purchases 210,000 180,000 220,000 Payroll, rent, and other expenses 96,000 41,000 51.000 All merchandise is purchased on credit 20% of the balance is paid in the...",
            "stars": 3
        },
        {
            "url": "\/study-help\/questions\/i-have-an-assignment-which-is-called-technology-paper-i-4282467",
            "description": "I have an assignment which is called Technology paper? I will attached you my draft technology paper can you please go through that and answer the following questions: 1. Can you please go through my...",
            "stars": 3
        },
        {
            "url": "\/study-help\/questions\/suppose-tim-is-a-single-full-time-worker-earning-75000-4563610",
            "description": "Suppose Tim is a single full time worker, earning $75000 per year. He has a government bonds which return $1300 a month. He rents his apartment for $210 a week, with a monthly electricity bill of...",
            "stars": 3
        },
        {
            "url": "\/study-help\/questions\/pamrod-manufacturing-acquired-all-the-assets-and-liabilities-of-stafford-5577708",
            "description": "Pamrod Manufacturing acquired all the assets and liabilities of Stafford Industries on January 1, 20X2, in exchange for 4,000 shares of Pamrods $20 par value common stock. Balance sheet data for both...",
            "stars": 3
        },
        {
            "url": "\/study-help\/questions\/carol-is-the-purchasing-manager-for-jdivine-a-popular-wedding-3526872",
            "description": "Carol is the purchasing manager for J'Divine, a popular wedding photography business. She is responsible for assessing the purchasing and supply activities performed by J'Divine's purchasing and...",
            "stars": 3
        },
        {
            "url": "\/study-help\/questions\/how-might-a-neuroscientist-use-childrens-interest-in-video-games-1410016",
            "description": "How might a neuroscientist use children's interest in video games to design an experimental or longitudinal study determining whether intense amounts of practice in a particular skill causes...",
            "stars": 3
        },
        {
            "url": "\/study-help\/questions\/aba-procedure-in-this-section-name-the-aba-procedure-being-1407055",
            "description": "ABA Procedure In this section, name the ABA Procedure being considered. For example, \"Differential Reinforcement of Other Behavior (DRO).\" Special Methods In this section, discuss the implementation...",
            "stars": 3
        }
    ],
    "next_back_navigation": {
        "previous": "\/study-help\/questions\/what-are-the-values-of-your-organization-dallas-college-or-4448183",
        "next": "\/study-help\/questions\/as-a-senior-manager-for-a-major-health-insurance-company-4448185"
    },
    "breadcrumbs": [
        {
            "name": "Study help",
            "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers"
        },
        {
            "name": "Business",
            "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers\/business"
        },
        {
            "name": "Accounting",
            "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/business-accounting"
        },
        {
            "name": "The Winner Company marks up all merchandise at 25% of gross purchases.",
            "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/the-winner-company-marks-up-all-merchandise-at-25-of-4448184"
        }
    ],
    "skill_details": {
        "skill_id": "9",
        "skill_name": "Accounting",
        "parent_id": "1"
    }
}  }
}