tailieunhanh - Lecture Practical business math procedures (10/e): Chapter 7 - Jeffrey Slater
Chapter 7 - Discounts: Trade and cash. In this chapter, the learning objectives are: Calculate single trade discounts with formulas and complements, explain the freight terms FOB shipping point and FOB destination, find list price when net price and trade discount rate are known, calculate chain discounts with the net price equivalent rate and single equivalent discount rate. | Chapter 7 Discounts: Trade and Cash Calculate single trade discounts with formulas and complements Explain the freight terms FOB shipping point and FOB destination Find list price when net price and trade discount rate are known Calculate chain discounts with the net price equivalent rate and single equivalent discount rate Discounts: Trade and Cash #7 Learning Unit Objectives Trade Discounts—Single and Chain (Includes Discussion of Freight) List and explain typical discount periods and credit periods that a business may offer Calculate outstanding balance for partial payments Discounts: Trade and Cash #7 Learning Unit Objectives Cash Discounts, Credit Terms, and Partial Payments Irwin/ McGraw-Hill Publishing C. Invoice No. 5582 1333 Burr Ridge Parkway Burr Ridge, Illinois 60527 Date: July 8, 2010 Ship: Two-day UPS Terms: 2/10, n/30 Sold to: North Shore Community College Bookstore 1 Ferncroft Road Danvers, MA 01923 Description Unit list price Total Amount 50 | Chapter 7 Discounts: Trade and Cash Calculate single trade discounts with formulas and complements Explain the freight terms FOB shipping point and FOB destination Find list price when net price and trade discount rate are known Calculate chain discounts with the net price equivalent rate and single equivalent discount rate Discounts: Trade and Cash #7 Learning Unit Objectives Trade Discounts—Single and Chain (Includes Discussion of Freight) List and explain typical discount periods and credit periods that a business may offer Calculate outstanding balance for partial payments Discounts: Trade and Cash #7 Learning Unit Objectives Cash Discounts, Credit Terms, and Partial Payments Irwin/ McGraw-Hill Publishing C. Invoice No. 5582 1333 Burr Ridge Parkway Burr Ridge, Illinois 60527 Date: July 8, 2010 Ship: Two-day UPS Terms: 2/10, n/30 Sold to: North Shore Community College Bookstore 1 Ferncroft Road Danvers, MA 01923 Description Unit list price Total Amount 50 Financial Management – Block/Hirt $ $ 4, 10 Introduction to Business- Nichols $ Total List Price $ 5, Less: Trade Discount 25% 1, Net Price $ 4, Plus: Prepaid Shipping Charge Total Invoice Amount $ 4, Invoice Trade Discount Amount & Net Price Formulas Trade discount amount = List price x Trade discount rate Net Price = List price - Trade discount amount $5,678 - 1, = $4, $5,678 x 25% = $1, Freight Terms FOB Shipping Point - buyer pays the freight cost FOB New Jersey - The buyer in San Diego pays the freight FOB Destination - seller pays the freight cost FOB San Diego - The seller in New Jersey pays the freight buyer seller Complement Complement - The difference between the single discount rate and 100% If the trade discount is 25%, the complement is 75% (100%-25%) 75% Trade Discount Complement 25% Single Trade Discount The price of a Macintosh Computer is $2,700. The manufacturer offers a 40% .
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