Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. discount electronics buys stereos for $830 less 37

Discount Electronics buys stereos for $830 less 37.5% and 12.5%. Expenses are 20% of cost...

70.2K

Verified Solution

Question

Accounting

Discount Electronics buys stereos for $830 less 37.5% and 12.5%. Expenses are 20% of cost and the required profit is 15% of the regular selling price. All merchandise is marked with a price so that the store can advertise a discount of 30% while still maintaining its regular markup. During the annual clearance sale, the new regular selling price of unsold items is marked down 50%. What operating profit or loss does the store make on items sold during the sale?
1.**Calculate the cost price after both discounts.**
2.**Determine the expenses and add them to get the total cost.**
3.**Find the regular selling price using the markup information.**
4.**Calculate the selling price during the annual clearance sale.**
5.**Determine the operating profit or loss.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Do bonds reduce the overall risk of an investment portfolio? Let x be a random variable...

Basic Math
Q

A red blood cell has a disk diameter of 0.6 micrometers and an intracellular isotonic osmolarity...

Biology
Q

How and Why Civil Engineering is an important part of any Smart City

Civil Engineering
Q

In the United States, given current demands on physicians, how likely is it that over the...

General Management
Q

10 5 in 25 in 24 in 11 X

Geometry
Q

Graph the y 4 3 x 2

Basic Math
Q

The population of a city started at 378,000. Every year thereafter it decreased by 23,000...

Basic Math
Q

stion 1 of 15 Step 1 of 1 Answer V 10 10 Correct Selecting an...

Calculus
Q

all parts please 12 6.25 points Exercise B-12 (Algo) Present...

Accounting
Q

uestion 17 Which of the following accounts would be reported under Paid in Capital in...

Accounting
Q

The company is authorized to sell 100,000 shares. The entry to record the issuance of...

Accounting
Q

Suppose a company has proposed a new 4-year project. The project has an initial outlay...

Finance