User Account

All Pages

What amount should be reported as accounts payable on sept

Assignment Help Accounting Basics
Reference no: EM132808873

Sandra Company recorded purchases at gross amount but decided to change to recording purchases at net amount. Discounts available on purchases recorded from Oct 1,2018 to Sept 30,2019 totaled 20,000.00. Of this amount, 2,000 is still available in the accounts payable. The balances as of and for the year ended Sept. 30,2019 before conversion are purchases-1,000,000, purchase discounts taken-8,000 and accounts payable- 300,000.

Problem 1: What amount should be reported as accounts payable on Sept 30,2019?

Reference no: EM132808873

Questions Cloud

What amount should nordstrom report as lease liability : The rounded present value of an ordinary annuity of 1 for nine years at 9% is 5.60. What amount should Nordstrom report as lease liability on December 31, 2016?
What is the change in operating income : The special order will not affect regular sales. What is the change in operating income that would result from accepting this special sales order?
HC1010 Accounting for Business Assignment : HC1010 Accounting for Business Assignment Help and Solution, Holmes Institute - Assessment Writing Service - Communicate accounting information in writing
Calculate the inventory turnover ratio for the year : Calculate the inventory turnover ratio for the year. Universal Sports Supply began the year with an inventory balance of $81,000 and a year-end balance
What amount should be reported as accounts payable on sept : What amount should be reported as accounts payable on Sept 30,2019? Sandra Company recorded purchases at gross amount but decided to change
Find the market-share variance and market-size variance : Compute the market-share variance and market-size variance. BC Surf Supplies Ltd. sells sport surfboard waxand competition surfboard wax
Hr professionals effecting positive social change : By taking part in positive social change, the impact of an organization can extend not only to those who work for the organization, but also to society at large
What increase in net working capital would enable the firm : Margetis Inc. wants to increase its free,What increase in net working capital (in millions of dollars) would enable the firm to meet its target increase in FCF?
What are implications of a multinational company : What are implications of a multinational company lacking diversity with their top management team.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Total required production in units of finished product

Each units of finished product requires four pounds of raw material at a cost of $1.40 per pound. There are 140,000 pounds of raw material in inventory on June 30. Compute the company's total required production in units of finished product for t..

  Wich of the following regarding preferred stock is true

which of the following regarding preferred stock is true? the price in the market remains at par if the required rate

  Ashleys accessory shop started the year with total assets

ashleys accessory shop started the year with total assets of 70000 and total liabilities of 40000. during the year the

  Prepare a statement of retained earnings

XOS Corporation (XOS) sells accounting-related memorabilia at a small store. The company was organized and began operations on January 1, 2016.

  Construct the journal entry at the date of purchase

Construct the journal entry at the date of purchase. Waterway Limited has been experiencing increased customer demand for its specialty food products.

  Pink martini corporation is projecting a cash balance of

pink martini corporation is projecting a cash balance of 31000 in its december 31 2007 balance sheet. pink martinis

  What elements of manufacturing overhead can you identify

Using the Internet, locate the most recent financial report of a company of your choosing. The company you select to research must be in the business.

  Prepare the journal entries for Rey Corporation on February

Prepare the journal entries for Rey Corporation on February 1, 2022, to record the exercise of the warrants by Leia Co

  Calculate the break-even point for Packy in unit and RM

Its selling price is RM135 per unit and the variable cost for each unit is RM75. Calculate the break-even point for Packy in unit and RM

  Red raider investment determine if bbc should record

Red Raider investment determine if BBC should record

  Prepare the payroll registers for the periods ending

Prepare the payroll registers for the periods ending January 15, 2017 and December 31, 2017. Prepare Form 941 for the quarter ending March 31, 2017

  What would be the impact on pension expense for the year

The average remaining service life of the employees was 10 years, What would be the impact on pension expense for the year

Free Assignment Quote

Assured A++ Grade

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd