« previous next »

Author Question: Tony Chang gives good customers a cash discount of 1.5 on any amount that they pay within 5 days of ... (Read 254 times)

lunatika

  • Hero Member
  • *****
  • Posts: 548
on: Jun 24, 2018
Tony Chang gives good customers a cash discount of 1.5 on any amount that they pay within 5 days of the invoice date. An invoice for 1,890 was written on February 2 . The customer paid 900 on February 6 . Compute the amount that Tony must credit to his customer's account. (This problem involves the partial payment of an invoice within the discount period.)

Question 2

Warm Winters Linen, Inc had current liabilities of 500,000 . cash of 300,000 . accounts receivable of 150,000 . and ending inventory of 250,000 . Compute the working capital ratio. (Round answer to two decimal places.)


k.lashomb

  • Sr. Member
  • ****
  • Posts: 346
Reply #1 on: Jun 24, 2018
Answer to Question 1

100 . - 1.5 = 98.5
900 0.985 = 913.71 credited

Answer to Question 2

1.4:1


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

In the United States, an estimated 50 million unnecessary antibiotics are prescribed for viral respiratory infections.

Did you know?

A headache when you wake up in the morning is indicative of sinusitis. Other symptoms of sinusitis can include fever, weakness, tiredness, a cough that may be more severe at night, and a runny nose or nasal congestion.

Did you know?

Atropine, along with scopolamine and hyoscyamine, is found in the Datura stramonium plant, which gives hallucinogenic effects and is also known as locoweed.

Did you know?

Although the Roman numeral for the number 4 has always been taught to have been "IV," according to historians, the ancient Romans probably used "IIII" most of the time. This is partially backed up by the fact that early grandfather clocks displayed IIII for the number 4 instead of IV. Early clockmakers apparently thought that the IIII balanced out the VIII (used for the number 8) on the clock face and that it just looked better.

Did you know?

One way to reduce acid reflux is to lose two or three pounds. Most people lose weight in the belly area first when they increase exercise, meaning that heartburn can be reduced quickly by this method.

good to eat good to eat
That politics was always a rough business is shown in this cartoon, which shows Lincoln, assisted by That politics was always a rough business is shown in this cartoon, which shows Lincoln, assisted by
Both the top and bottom pattern have the same frequency. However, the amount of on-time varies. Both the top and bottom pattern have the same frequency. However, the amount of on-time varies.
Development of the Eyes and Ears: External View - 28 days Embryo Development of the Eyes and Ears: External View - 28 days Embryo
Debt payments of $1610.00 due today, $725.00 due in 101 days and $670.00 due in 296 days ... Debt payments of $1610.00 due today, $725.00 due in 101 days and $670.00 due in 296 days ...
Compute the rate of discount allowed on a rotor-tiller that lists for $341.00 and is sold for ... Compute the rate of discount allowed on a rotor-tiller that lists for $341.00 and is sold for ...
Video: Methods that regulate pH

For a complete list of videos, visit our video library