Original price 66.00 Brandon was tired of singing to himself. Brandon saw that a hand-held music player was marked down of the original price. If the item was marked up by 1/2 before it was place on the sales floor, what was the price that the store paid for the music plauer? (Hint: You need to use the original price from the previous problem.) A. $42.67 B. 62.00 C. $56.89 D. 55.00

Answers

Answer 1
Answer:

Answer:

A. $42.67

Explanation:

1. "Markup" is defined as the amount by which the selling price of an item is increased above its cost to the retailer. (Source: BusinessDictionary.com)

2. The formula for calculating markup is: markup = (selling price - cost) / cost. (Source: Investopedia)

3. To find the cost of an item to the retailer, we can use the formula: cost = selling price / (1 + markup). (Source: Khan Academy)

Now, let's work through the problem using these formulas:

1. First, we know that the original price of the hand-held music player was $66.00.

2. Next, we know that the item was marked up by 1/2 before it was placed on the sales floor. This means that the markup is 1/2, or 50%.

3. To find the cost of the item to the retailer, we can use the formula: cost = selling price / (1 + markup). In this case, the selling price is $66.00, and the markup is 50%, so:

cost = $66.00 / (1 + 0.5)

= $66.00 / 1.5

= $42.67


Related Questions

. Which choice best describes labor laws passed during the New Deal? A. No labor laws were passed during that time period B. Union friendly C. Anti-union D. Neutral towards unions
Why must old currency be taken out of circulation When new currency is made?
Suppose the price of a substitute to lcd televisions rises. what effect will this have on the market equilibrium for lcd​ tvs? the equilibrium price of lcd tvs will:_________ a. increase and the equilibrium quantity will increase. b. not change and the equilibrium quantity will not change. c. decrease and the equilibrium quantity will increase. d. increase and the equilibrium quantity will decrease. e. decrease and the equilibrium quantity will decrease.
Allsop Company had no beginning inventory. The company purchases 300 units of inventory in January at $5 each, 500 units at $4 each in August, and 200 units at $6 each in November. The company sells 150 units during the year. Allsop uses a periodic inventory system and the LIFO inventory costing method. What is the cost of goods sold?
Which of the following types of conflict is most strongly associated with improvements in team performance?a. cognitive conflictb. horizontal conflictc. behavioral conflictd. vertical conflict e. affective conflict

Which of the following is true concerning federal budget deficits? I. The IRS spends more than it collects in taxes in a given year. II. The Federal Government spends more than it collects in taxes in a given year. III. Unemployment is greater than taxes collected in a given year.

Answers

Answer:

II. The Federal Government spends more than it collects in taxes in a given year.

Explanation:

A federal budget deficit is when government spending exceeds income from taxes.

I hope my answer helps you

What is the main feature of chat rooms?alternate text messaging
delayed text messaging
real-time text messaging
offline text messaging

Answers

The correct answer is C. Real-time text messaging

Explanation:

Chat rooms are websites that allow users to send messages to others even if the other person is on the other side of the world. Due to the nature of these websites, these are used by users to know people or talk about common interests. Besides this, chat rooms differ from other websites because it implies synchronous conferencing, this implies messaging occurs in real-time because to contact any other user she/he needs to be online and messages are sent and received immediately. Thus, from the options, the main feature of chat rooms is real-time text messaging.

Real-time messaging, obviously.

A. A detailed record of all increases and decreases that have occurred in a particular asset, liability, or equity during a period b. The record holding all the accounts of a business, the changes in those accounts, and their balances
c. A journal entry that is characterized by having multiple debits and/or multiple credits
d. A record of transactions in date order
e. Left side of a T-account
f. Side of an account where increases are recorded
g. Transferring amounts from the journal to the ledger
h. Right side of a T-account
i. A list of all accounts with their balances at a point in time
j. A list of all accounts with their account numbers

Answers

Answer and Explanation:  

Account  

In commerce, an account is a record that has a list and store business transactions.  

Ledger  

ledger is a document that includes records in which the recorded and compiled information material is recorded as debits and credits.

Compound Journal Entry  

A compound journal entry is a financial reporting entry that contains more than one debit and one credit.  

Journal

The location where journal entries are registered before they are added to the ledger accounts.  

Debit side  

A debit is a left-hand entry of a dual-entry bookkeeping scheme that reflects the increase of an asset or cost or a decrease in debt.  

Normal balance

It is part of the book-keeping procedure for double entries. Each account has the balance either of credit or debit. To order to increase the amount of an account with a credit balance, one would be crediting the account.  

Posting  

Posting is the process of transferring debit and credit balances to their respective ledgers.  

The right side of the t-chart  

The credit side is always the right-hand side of the T account  

Trial balance  

A trial balance is a collection of all the ledger accounts included in a company's ledger of accounts

Chart of accounts

 it is a generated collection of the accounts that a company uses to describe each type of items that pay or receive money or its relative for.

Final answer:

The subject of this question is Business, and it relates to accounting and bookkeeping terms. The student is asking for definitions, and the answer provides explanations and examples for terms such as ledger, compound entry, journal, T-account, posting, trial balance, and chart of accounts.

Explanation:

The subject of this question is Business. The student is asking for definitions related to accounting and bookkeeping. Let's define each term:

  1. A detailed record of all increases and decreases that have occurred in a particular asset, liability, or equity during a period is called a ledger.
  2. The record holding all the accounts of a business, the changes in those accounts, and their balances is also referred to as a ledger.
  3. A journal entry that is characterized by having multiple debits and/or multiple credits is known as a compound entry.
  4. A record of transactions in date order is called a journal.
  5. The left side of a T-account is called the debit side.
  6. The side of an account where increases are recorded is referred to as the credit side.
  7. Transferring amounts from the journal to the ledger is known as posting.
  8. The right side of a T-account is called the credit side.
  9. A list of all accounts with their balances at a point in time is called a trial balance.
  10. A list of all accounts with their account numbers is referred to as a chart of accounts.

Learn more about Accounting and Bookkeeping here:

brainly.com/question/31628212

#SPJ3

When compared with last development countries a higher proportion of people in developed Nations fall into which age groupA. infants

B. older than 65

C. children between the ages of 5 and 10

D. of the child-bearing age

Answers

Answer:

The answer is older than 65

Explanation:

gradpoint

Children between ages of 5 and 10.

Which type of tort happens when you unfairly damage another company's reputation?

Answers

The type of tort that happens when you unfairly damage another company's reputation is:

Defamation

What is Defamation?

False words about a person that harm their reputation are sent to a third party, which is referred to as defamation in legal terms. Legal subcategories of defamation include libel and slander.

Defamation through written words, images, or any other visual symbols in a print or electronic medium is generally referred to as libel. The verbal defamation known as slander.

This categorization was made a little more difficult by the introduction of early broadcast communications in the 20th century and the development of social media in the early 21st century.

Although the concept of defamation originated in English law, it was recognized in ancient and mediaeval periods under comparable legal theories.

An illustration of this punishment was execution for abusive shouts. An insult was punishable by having the offender's tongue amputated.

What is a company's reputation?

Growth and revenue are impacted by a company's reputation. In order to draw in and keep staff as well as consumers, it's critical to uphold an excellent reputation.

Understanding how to enhance your company's reputation and what factors influence a company's reputation will help you achieve your expansion objectives, build your brand, and boost sales.

A company's reputation is the way the general public views the business and its operations. Public perceptions of the business's goods or services as well as its personnel policies are included. Reputations can be favorable or unfavorable and they can evolve over time.

For instance, word-of-mouth among clients of the business might alter its reputation just as much as a well-known news piece about it. Since consumer impressions are what determine a firm's reputation, it may not necessarily represent how the company actually does business.

It's crucial that the business manages its reputation so that it appropriately represents the firm.

To learn more about defamation here,

brainly.com/question/27960731

#SPJ2

That kind of tort is called: Defamation.

Privacy concerns dictate that

Answers

Privacy concerns dictate that  You always enter mass email addresses into BCc

In email, BCc stands for Blind Carbon Copy. You need to put mass email addresses into BCc in order to protect any email information from being obtain by cyber criminals