What is the amount of the check

Assignment Help Accounting Basics
Reference no: EM133030996

Question - Valley Company purchases merchandise on account for $6,448 from Corn Company with credit terms of 6/10, n/30, FOB shipping point. Corn Company directly pays the shipper $268 cash for freight. What is the amount of the check that Valley will prepare if they pay Corn Company within the discount period?

Reference no: EM133030996

Questions Cloud

Why are quoted spot rates very similar across all banks : 1. Why are quoted spot rates very similar across all banks? 2. Why don't arbitrage opportunities exist for long periods of time?
Conduct a mini literature review relevant : Covid-19 has changed the workplace environment. Organisations strive to ensure that safety measures are implemented and management of occupational health and sa
How much will her company contribute to her account : Jane contributes 10% of her $40,000 salary to a traditional 401(k). How much will her company contribute to her 401(k) account
Considering the current situation in the philippines : What is your opinion here considering the current situation in the Philippines? How do you cope up and what were the adjustments you did?
What is the amount of the check : Corn Company directly pays the shipper $268 cash for freight. What is the amount of the check that Valley will prepare
How would you characterize best buy competitive strategy : How would you characterize Best Buy"s competitive strategy? Should it be classified as a low-cost provider strategy? A differentiation strategy?
A/617/2265 Programming Foundations Assignment : A/617/2265 Programming Foundations Assignment Help and Solution, OTHM Level 4 Diploma In Information Technology - Assessment Writing Service
What are five decisions based on opportunity costs : What are five decisions based on opportunity costs that you commonly make? Explain and discuss.
Calculating depreciation on vehicles : Calculating depreciation on vehicles: The average replacement cost of other vehicles is £24,000 per vehicle

Reviews

Write a Review

Accounting Basics Questions & Answers

  What is the total partnership residualincome allocation

What is the TOTAL partnership RESIDUALINCOME allocation in 2020? What is the total partnership profit allocation for Moon, Sun, and Stars, respectively?

  What is the amount of jason and mary''s adjusted gross income

Jason and Mary are married taxpayers in 2016. What is the amount of Jason and Mary's adjusted gross income

  Suzaki manufacturing company is considering three new

suzaki manufacturing company is considering three new projects each requiring an equipment investment of 22000. each

  Would that equipment be classified as an asset

Conservation Is Good Business at The Walt Disney Company Say the word "Disney" and you may think of any one of hundreds of movies produced by Walt Disney.

  Implement team building approach

If a manager wants to implement team building approach, what does he or she need to learn?

  In addition the controller asks you to send an additional

you have been assigned to the confirmation of aged accounts receivable for the blank paper company audit. two of them

  Define and explain the contribution margin

In 400 words Define and explain the following: Contribution Margin and Contribution Margin Ratio

  Find entry or entries gideon makes to record the recovery

Gideon received a check for the full amount of $2,000 from Hopkins. On July 10, the entry or entries Gideon makes to record the recovery of the bad debt is

  What is the value of ending inventory

FireStick, Inc. sells miniature flashlights at an average price $7.55 per unit. Assuming the company uses FIFO, what is the value of ending inventory

  Prepare general journal entries to record the events

On 1 July 2019 Cooloola Ltd provided 1 million options to its chief executive officer. Prepare general journal entries to record the above events

  What was the budgeted level of activity

In a period a company had opening inventory of 31000 units and closing inventory of 34000 units. What was the budgeted level of activity

  Identify the type of potential threat to independence

Identify the type of potential threat to independence. Justify your answer. Identify and explain two (2) asset accounts at risk of material misstatement

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!

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