Computing approximate cost of giving up cash discount

Assignment Help Accounting Basics
Reference no: EM13141575

Lyman Nurseries purchased seeds costing $25,000 with terms of 3/15 net 30 EOM on January 12. How much will the firm pay if it takes the cash discount? What is the approximate cost of giving up the cash discount, using the simplified formula?

Reference no: EM13141575

Questions Cloud

Calculate consumer surplus in the case of entry deterrence : Calculate firm 1's profit-maximizing output and profits in the absence of potential competition and calculate the output and profits of both firms in case firm 1 accommodates entry.
What is the probability that both will be male : If a couple is planning on having two children, what is the probability that both will be male? a)0 b)1/4 c)1/2 d)3/4 e)1
Attenuation of received power with change in transmission : Attenuation of received power with change in transmission frequency and distance between the antennas
What is the maturity risk premium : Assume that real risk-free rate = 3%. Inflation rate is expected to be 8% in year 1, 5% in year 2, and 4% thereafter. Also assume that all T-bonds are highly liquid and free of default risk. If 2-year T-bond yields 13%, what is the maturity risk p..
Computing approximate cost of giving up cash discount : Lyman Nurseries purchased seeds costing $25,000 with terms of 3/15 net 30 EOM on January 12. How much will the firm pay if it takes the cash discount? What is the approximate cost of giving up the cash discount, using the simplified formula?
What is the substrate for a restriction enzyme : what type of organisms have genes for restriction enzymes? and what is the substrate for a restriction enzyme?
Which highest individual rent that might expect to find : Mean equal to $175 a month and standard deviation of $35, which of the following would be the highest individual rent that you might expect to find?
How many moles of o2 are needed : How many moles of O2 are needed to consume 0.52 mol of Mg in the following unbalanced reaction? Mg plus O2 -> MgO
Opportunity to discuss the type of curriculum : The purpose of this assignment is to give you the opportunity to discuss the type of curriculum you would provide for young children in a group care situation.

Reviews

Write a Review

 

Accounting Basics Questions & Answers

  What are the two methods of accounting

Find what are the two methods of accounting for treasury stock and fill the journal entry to record the purchase of treasury stock by the cost method.

  How will the development above effect the accounting

What are several possible explanations for the markdown and slow sale of common waleth Edison's bonds?

  What is the basis in tenika hands of distributed property

Tenika has a $10,000 basis in her interest in the TF Partnership and no remaining precontribution gain immediately before receiving a current distribution that consisted of $4,000 in money, plastic tubes held in inventory with a $3,000 basis to th..

  Currently for the estimated cost

In its 2004 annual report, Apple Computer reported the following in one of its disclosure notes: "Warranty Expense: The Company provides currently for the estimated cost for product warranties at the time the related revenue is recognized."

  What is a contingent liability

What is a contingent liability? Describe the three ranges of loss contingencies outlined in SFAS No. 5, including a brief summary of the accounting and disclosure requirements ?

  Journal entries for work in process

Quark Spy Equipment manufactures espionage equipment. Quark uses a job-order cost system and applies overhead to jobs the basis of direct labor-hours. Prepare journal entries to record Quark's transaction for the month of January. Do not close out..

  What is current marginal tax rate

Using the U.S. tax rate schedule, how much federal tax will he owe? What is his average tax rate? What is his effective tax rate? What is his current marginal tax rate?

  Investment as trading securities

Goofy reclassified this investment as trading securities in December of 2011 when the market value had risen to $125,000. What effect on 2011 income should be reported by Goofy for the Crazy Co. shares?

  Social structure and income levels

Identify the social structure and income levels of the social classes in the United States. In your own words describe why a compensation specialist needs to understand this structure.

  What insights did you gain form looking at the various ratio

A. For the following ratios create trend charts for WFM for 10 years 2002 - 2011. Use ratio data from Morningstar online database: Current ratio, Average collection period, Debt/Equity, Times interest earned, and Operating profit margin. Use separ..

  Monthly net operating income or loss

If the president is right, what will be the effect on the company's monthly net operating income or loss? Using the incremental approach in perparing the answer?

  Affecting accounting data for the next fiscal period

Suppose that the nominal accounts are nto closed out at the end of the fiscal period. How does it affect accounting data for the next fiscal period?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd