What is a sales discount? Use 1/10, n/30 in your explanation.
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 68% (16 reviews)
A sales discount is a discount given to customers for payment of accounts w...View the full answer
Answered By
Hemstone Ouma
"Hi there! My name is Hemstone Ouma and I am a computer scientist with a strong background in hands-on experience skills such as programming, sofware development and testing to name just a few. I have a degree in computer science from Dedan Kimathi University of Technology and a Masters degree from the University of Nairobi in Business Education. I have spent the past 6 years working in the field, gaining a wide range of skills and knowledge. In my current role as a programmer, I have had the opportunity to work on a variety of projects and have developed a strong understanding of several programming languages such as python, java, C++, C# and Javascript.
In addition to my professional experience, I also have a passion for teaching and helping others to learn. I have experience as a tutor, both in a formal setting and on a one-on-one basis, and have a proven track record of helping students to succeed. I believe that with the right guidance and support, anyone can learn and excel in computer science.
I am excited to bring my skills and experience to a new opportunity and am always looking for ways to make an impact and grow as a professional. I am confident that my hands-on experience as a computer scientist and tutor make me a strong candidate for any role and I am excited to see where my career will take me next.
5.00+
8+ Reviews
23+ Question Solved
Related Book For
Question Posted:
Students also viewed these Accounting questions
-
What is a sales discount and how is it recorded in a perpetual inventory system?
-
What is a sales warranty? Explain the different kinds of warranties sellers offer.
-
What is a sales finance company and how does it work?
-
Presented below is information related to Larkspur Inc.'s inventory, assuming Larkspur uses lower-of-LIFO cost-or-market. (per unit) Skis Boots Parkas Historical cost $224.20 $125.08 $62.54 Selling...
-
The unadjusted trial balance of Dorset Roofing at July 31, 2017, appears below: Additional data at July 31, 2017: a. Amortization for the period to be recorded: equipment, $2,040; building, $4,210....
-
When using utilities with a decision tree, what kind of value is obtained to evaluate each node of the tree?
-
A manufacturing statement (a) computes cost of goods manufactured for the period, (b) computes cost of goods sold for the period, or (c) reports operating expenses incurred for the period.
-
You can use the computer- based Electronic Workpapers on the textbook website to prepare the net worth analysis required in this problem. Net worth analysis is performed when fraud has been...
-
Income tax 2 Mohamed Khan and Aaron Grieve are equal partners in a small business which received the following income in 2020: business income of $150,000, interest of $4,000, and a capital gain of...
-
Shauna Coleman is single. She works as an architectural designer for Streamline Design (SD). Shauna wanted to determine her taxable income. She correctly calculated her AGI. However, she wasn't sure...
-
What is a credit card discount? How does it affect amounts reported on the income statement?
-
What is the distinction between sales allowances and sales discounts?
-
For an exam given to a class, the students scores ranged from 35 to 98, with a mean of 74. Which of the following is the most realistic value for the standard deviation: -10, 0, 3, 12, 63? Clearly...
-
Waverly Company Ltd. currently produces 8,000 units per year of SB 200 (snowboard), which is a component of the company's major products. SB 200 has the following unit cots Direct materials - $35.50...
-
Norton Ltd manufactures a single product, which is sold for $150 per unit. The standard variable costs per unit of the product are: Direct material 4 kilos at $8 per kilo Direct labour 5 hours at $10...
-
QUESTION 4 Murni Selasih Bhd is considering investing in a project that will generate higher returns Currently, the company has two projects with forecasted outcomes under consideration. The possible...
-
ABC plans to sell 60,000 units of product 751 in June, and each of these units requires five sq. ft. of raw material. Additional data is as follows: Product Raw No. 751 Material Actual June 1 11,200...
-
Case: Tom has felt anxious and constantly on edge over the past 3 years. He has few social contacts because of his nervous symptoms. He is married with 3 children and worries about if he is a good...
-
Explain when to use each of the four qualitative models 143
-
6 (a) Briefly develop a mathematical model of the behaviour of a copper-twisted pair cable (b) Derive the magnetic energy from: w given that: K + w, where the - - k symbols have their usual meaning...
-
Which of the following accounts would normally have a debit balance? a. Inventory b. Sales Returns and Allowances c. Sales Discounts d. All of the above
-
You have been presented with selected information taken from the financial statements of Southwest Airlines Co., shown on the next page. Instructions(a) Calculate each of the following ratios for...
-
The following information is taken from Lima Corp.??s balance sheet at December 31, 2011. Interest is payable annually on January 1. The bonds are callable on any annual interest date. Lima uses...
-
Wong Corporation sold $2,000,000, 7%, 5-year bonds on January 1, 2012. The bonds were dated January 1, 2012, and pay interest on January 1. Wong Corporation uses the straight-line method to amortize...
-
Assume that an investment of $100,000 is expected to grow during the next year by 8% with SD 20%, and that the return is normally distributed. Whats the 5% VaR for the investment? A. $24,898 B....
-
Simpson Ltd is a small IT company, which has 2 million shares outstanding and a share price of $20 per share. The management of Simpson plans to increase debt and suggests it will generate $3 million...
-
The following are the information of Chun Equipment Company for Year 2 . ( Hint: Some of the items will not appear on either statement, and ending retained earnings must be calculated. ) Salaries...
Study smarter with the SolutionInn App