Question

Problem 12-2 The following information is for Kylie's Kapers at 12/31/X8: During 20X9, Kylie's Kapers purchased merchandise costing $400,000, paid 25% down, with the rest to be paid later. What was the total amount paid as a down payment for the merchandise purchased in 20X9? a) $100,000 b) $200,000 c) $300,000 d) $400,000

Answer 1

The total amount paid as a down payment for the merchandise purchased in 20X9 by Kylie's Kapers was $100,000.

Step-by-step explanation:

The problem deals with calculating the down payment made for the purchase of merchandise for Kylie's Kapers company in the year 20X9. Based on the information provided, the merchandise cost $400,000 and Kylie paid 25% of this cost as a down payment. Therefore, to calculate the down payment, we multiply the total cost ($400,000) by 25% (or 0.25).

So the calculation is: $400,000 * 0.25 = $100,000.

Therefore, the amount paid as a down payment for the merchandise purchased in 20X9 was $100,000. Hence, the answer to this question is (a) $100,000.

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