User Account

All Pages

What is the amount of cash received by the seller

Assignment Help Accounting Basics
Reference no: EM132742187

Question: A sales invoice included the following information: merchandise price, $8,000; transportation, $400; terms 2/10, n/eom, FOB shipping point. Assuming that a credit for merchandise returned of $800 is granted prior to payment, that the transportation is prepaid by the seller, and that the invoice is paid within the discount period, what is the amount of cash received by the seller?

Reference no: EM132742187

Questions Cloud

Determine the effect on net income and earnings per share : Zohan Health is considering two alternatives for the financing of some high technology medical equipment. These two alternatives are.
Find what net cash received over the life of bond investment : Annapolis Company purchased a $1,000, 6%, 5-year bond at 95 and held it to maturity. What is the net cash received over the life of the bond investment?
Calculate p nutt current volume : Calculate P. Nutt's current volume. What is the indifferent point for the identified options? What are the implications of the indifference point?
What is the average amount of stockholders equity : ROE is 10%, net income is $20,000, asset turnover ratio is 5 and the net sales are $1,000,000. What is the average amount of stockholders equity
What is the amount of cash received by the seller : A sales invoice included the following information: merchandise price, $8,000; transportation, $400; terms 2/10, n/eom, FOB shipping point.
Calculate the value of four bikes held as inventory : Calculate the value of 4 bikes held as inventory at the end of January using FIFO & AVCO method under periodical and perpetual inventory system.
How much should be reported as cash on December : Cash in Bank A - rank and file payroll account 200,000. How much should be reported as cash on December 31, 2020
What qualitative and quantitative factors will you have : What qualitative and quantitative factors will you have to consider before recommending that the company outsource the production of the binding component.
Identify the threats from the current pandemic situation : Identify the threats from the current pandemic situation to your organisation and Conduct a Risk Assessment based on the identified threats and update risk

Reviews

Write a Review

Accounting Basics Questions & Answers

  Determine the equal deposits

Beginning with January 1, 2011, five equal deposits are to be made in a fund.

  Balance sheet as of july 31 2013statement of cash flows for

svens private investigation servicesadjusted trial balancejuly 31

  How much money needs to purchase a new piece of equipment

How much money needs to be set aside today to purchase a new piece of equipment in five years? The money is expected to earn 5% interest compounded annually.

  Prepare a schedule showing annual depreciation expense

Assuming use of the straight-line depreciation method, prepare a schedule showing annual depreciation expense, accumulated depreciation

  Determine the direct materials cost per equivalent unit

Pacific Products Inc. completed and transferred 55,000 particle board units of production. Determine the direct materials cost per equivalent unit

  What is the total obligation under capital leases

What is the total rental expense reported for leasing activity for the year ended December 29, 2007, for Tasty Baking Company?

  What is molly current monthly volume

When Molly Lai purchased the Clean Clothes Corner Laundry, she thought that because it was in a good location near several high-income neighborhoods.

  What types of contractual obligations must be disclosed

What types of contractual obligations must be disclosed in great detail in the notes to the balance sheet? Why do you think these detailed provisions should be disclosed?

  Prepare journal entries to record uncollectible accounts

Dapper Hat Makers Company sells merchandise on credit. During the fiscal year ended July 31, the company had net sales of $2,300,000.

  How business offer could be accepted without jeopardizing

One of your LinkedIn contacts who poses himself as an entrepreneur, Elaborate on how business offer could be accepted without jeopardizing any ethical standard.

  Prepare the entry to record the trade

Prepare the entry to record the trade in generally accepted accounting principles. Accumulated depreciation 1,050,000. Original cost 1,200,000

  Prepare Shlee Corporation January journal entry

Shlee Corporation issued a 4-year, $60,000, zero-interest-bearing note to Garcia Company. Prepare Shlee Corporation's January 1 journal entry.

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