User Account

All Pages

What is the amount of sales discounts given to peter parker

Assignment Help Financial Accounting
Reference no: EM132739204

Problem 1: Peter purchased goods with a list price of P100,000 on Jan. 1 with a trade discount of 5%. Suppose the cash discount period is 15 days with a cash discount of 4%and Peter settled the payment on Jan. 10 in full. What is the amount of sales discounts given to Peter Parker?

a. P 1,380

b. P 4,000

c. P 3,800

d. P 5,000

Reference no: EM132739204

Questions Cloud

Which statements is correct about the credit period : Which statements is correct about the credit period? If a customer purchases goods within the credit period, a cash discount will be allowed to the customer.
How might covid-19 impact flexible working strategies : How might Covid-19 impact flexible working strategies? The response must be typed, font size 12 and must follow APA format.
Which is not considered in computing net cost of purchases : Merchandise was purchased for P5,000 and paid P200 for freight, FOB destination, freight collect. The merchandise was sold at 120% of the cost. The gross profit
How changes in the external environment by covid : Identify how changes in the external environment by COVID-19 affect the operations management strategy for a company?
What is the amount of sales discounts given to peter parker : 15 days with a cash discount of 4%and Peter settled the payment on Jan. 10 in full. What is the amount of sales discounts given to Peter Parker?
What are the legal issues in conducting such interviews : Assume you are the senior diversity officer for a large insurance company. Your boss, the senior vice president for Human Resources, has asked you to call.
Operations management strategy for a company : Identify how changes in the external environment by COVID-19 affect the operations management strategy for a company?
How much was the cost of goods sold : Ending merchandise inventory was 20,000 less than beginning merchandise inventory of 250,000, how much was the cost of goods sold?
Conducting a business or undertaking : Under the WHS legislation there are 5 situations when a person conducting a business or undertaking (employer) must consult with workers.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Credit paid-in capital from stock warrants

On May 1, 2014, the company should record the bonds with a ? and On May 1, 2014, the company should credit Paid-in Capital from Stock Warrants for ?

  Prepare cost of production

Prepare cost of production, cost of goods sold, and inventories schedules for next (the first) month. Assume you are starting new business involving manufacture

  What is the flexible budget variance for total expenses

Western Outfilters Mountain Sports projected 2008 sales of 75000 units at a unit sale price of $12.00. Actual 2008 sales were 72000 units at $14.00 per unit. Actual variable costs, budgeted at $ 4.00 per unit, totaled $4.75 per unit. budgeted fixe..

  Evaluate the amount of cash receipts for march

Evaluate the amount of cash receipts for March, April and May and evaluate the amount of cash disbursements for March, April and May.

  Prepare a multistep income statement for tulip corporation

Prepare a multistep Income statement for Tulip Corporation for 2019. Accounts payable?6,200?. Cost of goods sold ?17,300. Income tax expense?550

  Find journal entries would required to record the bond issue

Bluestone Company issued bonds with a face value of $500,000 at 90. Which of the following journal entries would be required to record the bond issue

  Principle of adequate disclosure

Briefly explain what is meant by the principle of adequate disclosure and How does professional judgment enter into the application of the principle of adequate disclosure?

  Examine the two operating statements in detail

Examine the two operating statements in detail, paying particular attention to the lines on which changes in net position and changes in fund balances are reported and develop a list of reasons why the two numbers are not the same.

  What was? apple current? ratio

Hewlett-Packard had a quick ratio of 0.66 and a current ratio of 0.90. What can you say about the asset liquidity of Apple relative to? Hewlett-Packard?

  What would be an equation to represent this equation

If tickets to a movie cost$7.25 for adults and $5.50 for students. A group of friends purchased 8 tickets for $52.75. What would be an equation to represent this equation? How many adult tickets and student tickets were purchased?

  What is its expected rate of return

Answer the following questions: Now assume that the stock is currently selling at $30.29. What is its expected rate of return

  Prepare the journal entries to record tax collections

Prepare the journal entries to record tax collections and remittances for the Kirby County Tax Agency Fund and what percentage interest in the pool is held by the town and the school district

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