Descriptive questions - discount on bills payable1 if an

Assignment Help Financial Accounting

Reference no: EM13356181

Descriptive Questions - Discount on Bills payable.

1. If an organization purchases $700 of supplies on account, with terms of 2/15, n50:
a.$650 must be paid within 15 days of the invoice date
b.$698 must be paid within 50 days of the invoice date
c.$686 can be paid within 15 days of the invoice date, or $700 must be paid within 50 days of the invoice date
d.$686 can be paid within 15 days of the invoice date, or $714 must be paid within 50 days of the invoice date

2. ABC Company just announced a 4 for 1 stock split. What effect will this have on:
a.The market value
b.The number of total share
c.The total value of common stock on ABC Company's books

Label each answer clearly.

Reference no: EM13356181

Questions Cloud

Stock investment transactions equity method and available : stock investment transactions equity method and available for sale securitiesroman products inc. is a wholesaler of

Bond discount entries for bonds payable transactionson july : bond discount entries for bonds payable transactions.on july 1 2010 brower industries inc. issued 32000000 of 10-year

Calculation of net income amp retained : calculation of net income amp retained earnings.calculate1net income2retained earnings based on the information below.

Calculation of salary payable net taxescalculate and show : calculation of salary payable net taxes.calculate and show all work for1 gross pay2 net pay for employee 12s weekly pay

Descriptive questions - discount on bills payable1 if an : descriptive questions - discount on bills payable.1. if an organization purchases 700 of supplies on account with terms

Descriptive questions-basic accounting principle1 advance : descriptive questions-basic accounting principle.1. advance payments from customers for future services are recorded as

Compute the necessary requirements on the basis of : compute the necessary requirements on the basis of detailscranberry corporation income statement in

Bad debt expenses debited in the income statement based on : bad debt expenses debited in the income statement based on the details.bad debts analysis allowance account nbspon

Answer the following questions based onnbsp bank : answer the following questions based onnbsp bank reconciliationprepare a bank reconciliation as of august 31 from the

User Account

All Pages