Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Freight Terms
Question 1: Determine the amount to be paid in full settlement of each of two invoices (a) and (b), assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period. If required, round the answers to the nearest dollar.
Merchandise Freight Paid by Seller Freight Terms Returns and Allowances
a. $7,000 $400 FOB shipping point, 1/10, n/30 $1,300
b. 2,600 500 FOB destination, 2/10, n/30 900
evaluation of criteria for internal control system.for each of these five separate cases identify the principle of
Prepare Takemoto's November 1, 2010, entry; the December 31, 2010, annual adjusting entry; and the February 1, 2011, entry.
On November 4, 2012, Blue Company acquired an asset (27.5-year residential real property) for $200,000 for use in its business. In 2012 and 2013, respectively, Blue took $642 and $5,128 of cost recovery. These amounts were incorrect; Blue applied the..
Hamlet College recently purchased new computing equipment for its library. Compute the total cost added to the college's Computing Equipment account. Prepare a journal entry at the end of the current year to record depreciation on the computing equip..
Liddy Corp. began constructing a new warehouse for its operations during the current year. In the year Liddy incurred interest of $30,000 on a working capital loan, and interest on a construction loan for the warehouse of $60,000. Interest computed o..
On January 1, 2010, Charles Jamison borrows $40,000 from his father to open a business.
Ajax Company is a large retail Company that sells clothing, shoes and other apparel. It has 40 retail outlets located in 22 states. All of its merchandise is purchased by a centralized Procurement Organization located at the company’s headquarters in..
When computing diluted EPS, do not weight any assumed conversion of stock options, convertible preferred stock, and convertible bonds for stock dividends declared during the year. In other words, use the same format reflected in the solutions to the ..
Consider the role the SEC plays in providing oversight and protection to public companies and the public, respectively. To that end, the SEC has levelled criticism against the accounting profession for not giving significant consideration to the qual..
On January 1, 2014, Lauren Corporation had $1,000,000 of common stock outstanding that was issued at par. It also had retained earnings of $750,000. The company issued 40,000 shares of common stock at par on July 1 and earned net income of $400,000 f..
Enduro Tile Company purchased merchandise on account from a supplier for $8,000, terms 2/10, n/30. Enduro Tile Company returned $3,500 of the merchandise and received full credit.
Which of the following statements correctly describes the effect of recording the collection of a $10,000 account receivable for which a 2% sales discount was recorded at the time of collection?
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd