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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1914 Excerpt: ... if the expense of doing business is 18 %? COMMISSION 212. Commission or brokerage is the sum charged by an agent for transacting business for another. The agent is called the broker, commission merchant, or collector, according to the character of the business transacted. The one for whom the business is transacted is called the principal. 213. A guaranty is an additional charge made by the agent for assuming the risk on credit sales, or for the quantity and quality of goods. 214. Merchandise sent by a principal (snipper or consignor) is called a shipment. 215. Merchandise received by an agent (consignee) is called a consignment. 216. Gross proceeds is the total amount received by the agent for the goods. 217. Net proceeds is the amount remaining after all expenses have been deducted. 218. The prime cost is the actual cost of the merchandise. 219. The gross cost is the total cost, including expenses, etc. 220. An account sales or account purchase is a statement itemizing the entire transaction. 221. Apply the principles of percentage. Gross proceeds or prime cost = base. Rate of commission = rate. Commission = percentage. Gross cost or gross proceeds = amount. Net proceeds = difference. Formulas: Gross proceeds or prime cost x rate of commission = commissioner BE = P Commission-s-rate = gross proceeds or prime cost, or Commission--gross proceeds or prime cost = rate, or Prime cost-f-commission = gross cost. Gross proceeds--commission = net proceeds. 17. An agent's commissions were $2500 in one month. If he transacted business on a 5% commission, how much business did he handle that month? 18. An agent sold 40000 lb. of wheat. After deducting his commission of 2%, he sent his principal $490. For how much per bushel was the wheat sold? 19. A manufacturer rem...
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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1914 Excerpt: ... if the expense of doing business is 18 %? COMMISSION 212. Commission or brokerage is the sum charged by an agent for transacting business for another. The agent is called the broker, commission merchant, or collector, according to the character of the business transacted. The one for whom the business is transacted is called the principal. 213. A guaranty is an additional charge made by the agent for assuming the risk on credit sales, or for the quantity and quality of goods. 214. Merchandise sent by a principal (snipper or consignor) is called a shipment. 215. Merchandise received by an agent (consignee) is called a consignment. 216. Gross proceeds is the total amount received by the agent for the goods. 217. Net proceeds is the amount remaining after all expenses have been deducted. 218. The prime cost is the actual cost of the merchandise. 219. The gross cost is the total cost, including expenses, etc. 220. An account sales or account purchase is a statement itemizing the entire transaction. 221. Apply the principles of percentage. Gross proceeds or prime cost = base. Rate of commission = rate. Commission = percentage. Gross cost or gross proceeds = amount. Net proceeds = difference. Formulas: Gross proceeds or prime cost x rate of commission = commissioner BE = P Commission-s-rate = gross proceeds or prime cost, or Commission--gross proceeds or prime cost = rate, or Prime cost-f-commission = gross cost. Gross proceeds--commission = net proceeds. 17. An agent's commissions were $2500 in one month. If he transacted business on a 5% commission, how much business did he handle that month? 18. An agent sold 40000 lb. of wheat. After deducting his commission of 2%, he sent his principal $490. For how much per bushel was the wheat sold? 19. A manufacturer rem...
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