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What is the net price factor for trade discounts of 25/15/10? (Points : 2.5)
PERFORMANCE OBJECTIVES: © 2009 Cengage Learning. All rights reserved. [ 7– 2 PERFORMANCE OBJECTIVES Section I The Invoice 7-1: Reading and understanding the parts of an invoice 7-2: Extending and totaling an invoice Section II Trade Discounts—Single 7-3: Calculating the amount of a single trade discount 7-4: Calculating net price by using the net price factor, complement method 7-5: Calculating
trade discount rate when list price and net price are known PERFORMANCE OBJECTIVES (cont’d): © 2009 Cengage Learning. All rights reserved. 7– 3 PERFORMANCE OBJECTIVES (cont’d) Section III Trade Discounts—Series 7-6: Calculating net price and the amount of a trade discount by using a series of trade discounts 7-7: Calculating the net price of a series of trade discounts by using the net price factor, complement method 7-8: Calculating the amount of a trade discount by using a single equivalent discount Section IV Cash Discounts and Terms of Sale 7-9: Calculating cash discounts and net amount due 7-10: Calculating net amount due, with credit given for partial payment 7-11: Determining discount date and net date by using various dating methods The Invoice: © 2009 Cengage Learning. All rights reserved. 7– 4 The Invoice invoice A document detailing a sales transaction, containing a list of goods shipped or services rendered, with an account of all costs. freight terminology F.O.B. —t erm used in quoting shipping charges meaning “free on board” or “freight on board.” F.O.B. shipping point Buyer pays transportation charges from the vendor’s location. F.O.B. destination Seller pays shipping changes to the buyer’s store or warehouse and then bills the buyer for these charges on the invoice. Exhibit 7-1 Typical Invoice Format: © 2009 Cengage Learning. All rights reserved. 7– 5 Exhibit 7-1 Typical Invoice Format Exhibit 7-2 Invoice Terminology and Abbreviations: © 2009 Cengage Learning. All rights reserved. 7– 6 Exhibit 7-2 Invoice Terminology and Abbreviations Exhibit 7-3 Freight Terminology: © 2009 Cengage Learning. All rights reserved. ]
Expert answered|karlen|Points 10|
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Asked 5/22/2013 12:26:00 PM
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