Connect : BUSINESS MATH Alternate Exam 4 -Continus 27-5328 George pays an invoic
ID: 2787712 • Letter: C
Question
Connect : BUSINESS MATH Alternate Exam 4 -Continus 27-5328 George pays an invoice for Rosie's Cleaning Services at Sprocket's Space Co.on June 2. The invoice date is May 17, the net price is $250, and the terms are 3/14. net 30. The same day, Rudi pays an invoice from Astro's Antivirus with a date of May 25, net price of $49.99, and terms of 4/7, net 18. Gargamel pays an invoice for magic potion from Azreal's Magic Castle on October 9. The invoice date is August 30, the net price is $65, and the terms are 5/10 EOM (an extension is granted since the invoice date is so near the end of the month). Select the person or people who receive the cash discount. (A) George only (B) Rudi only C) Gargamel only (E) George and Gargamel (F) Rudi and Gargamel (G) George, Rudi, and Gargamel (H) Nobody 10 T. C. always carries an inventory of between $55,000 and $95,000 at his Dibble's Alley Resale Shop. His annual costs for carrying this inventory are 25% for taxes, 7% for insurance, 65% for storage, and 8% interest. Select the correct calculation of the lowest possible carrying cost for T. C:'s inventory pp. 541-543 9. ($95,000-$55,000) × ( 100%-25%-7%-65%-8%) (B) $55,000 x (2.5% + 7% + 6.5% + 8%) (C) $95,000 x (2.5% + 7% +6.5% +8%) (D) ($95,000 + S55, 000) ( 100%-2.5%-7%-6.5%-8%)Explanation / Answer
1-
Invoice date
Period to avail discount
due date to avail cash discount
Payment date
George
17-May
3/14 so 14 days period to avail discount
31-May
2nd june
No cash discount
Rudi
25-May
4/7 so 7 days to avail the cash discount
1-Jun
2nd june
No cash discount
Gargamerl
30-Aug
5/10 EOM
9-Sep
9-Oct
No cash discount
Answer is H
Nobody
2-
Answer is B
55000*(2.5%+7%+6.5%+8%)
1-
Invoice date
Period to avail discount
due date to avail cash discount
Payment date
George
17-May
3/14 so 14 days period to avail discount
31-May
2nd june
No cash discount
Rudi
25-May
4/7 so 7 days to avail the cash discount
1-Jun
2nd june
No cash discount
Gargamerl
30-Aug
5/10 EOM
9-Sep
9-Oct
No cash discount
Answer is H
Nobody
2-
Answer is B
55000*(2.5%+7%+6.5%+8%)
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