What is the net amount due in dollar

Assignment Help Financial Accounting
Reference no: EM132895986

A cellular company purchased $28,600 in cell phones on September 25. The terms of sale were 4/20, 3/30, n/60. Freight terms were F.O.B. destination. Returned goods amounted to $650.

Problem (a) What is the net amount due (in $) if the cellular company sends the manufacturer a partial payment of $6,000 on October 20? (Round your answer to the nearest cent.)

Problem (b) What is the net date?

Problem (c) If the manufacturer charges a 4 1/2% late fee, how much (in $) would the cellular company owe if it did not pay the balance by the net date? (Round your answer to the nearest cent.)

Reference no: EM132895986

Questions Cloud

Compute equivalent units of production for materials : Martinez Manufacturing has gathered the following information. Compute equivalent units of production for materials and for conversion costs
Which type of stock would expect to have a higher price : Which type of stock would you expect to have a higher price amplification for the same good earnings news: a stock that is being mentioned
Determine the maximum amount of personal tax credits : Determine the maximum amount of 2018 personal tax credits, including transfers from a spouse or dependant, that can be applied against federal Tax Payable
Determine the measures and fact table : An electrical spare parts shop has many branches distributed over cities in Lebanon. They want to analyze the sold quantity and revenue generated in addition to
What is the net amount due in dollar : If the manufacturer charges a 4 1/2% late fee, how much (in $) would the cellular company owe if it did not pay the balance by the net date?
What is the total cost of the engagement : If overhead is applied on the Monoco engagement based on a single-cost driver basis, what is the total cost of the engagement
Calculate the current eoq in units : Triton Group Limited wishes to achieve excellent stock management so as to achieve a marvelous profit this year. Its management estimates the demand for its pro
Prepare the correcting journal entries : Prepare the correcting journal entries for the following: The bank column of the cash receipts journal was over added by $30
What is the revaluation surplus on january : What is the revaluation surplus on January 1, 2020? BOUGAINVILLEA Company acquired a building on January 1, 2017 at a cost of 20,000,000

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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