User Account

All Pages

What would be the balance in the inventory account

Assignment Help Accounting Basics
Reference no: EM132789817

Problem 1: ABC Co. purchased $6,000 of inventory on account with payment terms of 2/10, n/30. The goods were delivered FOB shipping point. ABC paid freight costs of $200 in cash. ABC paid for the goods within the discount period. Assuming the beginning inventory balance of zero, what would be the balance in the inventory account after the purchase and payment for inventory were recorded? ABC Co. uses the perpetual inventory method.

Reference no: EM132789817

Questions Cloud

How much will you have in the account after ten years : Suppose you deposit $1000 in a CD paying 5% interest, compounded monthly. How much will you have in the account after 10 years
What is the cost of land to be recognized in the book : At the time of acquisition, the land has a fair value of 1,000,000 and the building 4,000,000. What is the cost of land to be recognized in the book
Structure of the standards within grade level bands : In the Next Generation Science Standards, explain the structure of the standards within grade level bands.
What is the implication of heteroscedasticity : 1. State at least two reasons why an ordinary least squares regression (also known as linear regression) may be an inappropriate estimator for healthcare expend
What would be the balance in the inventory account : Assuming the beginning inventory balance of zero, what would be the balance in the inventory account after the purchase and payment for inventory were recorded?
How would you determine the opportunity cost of capital : At this price, the payoff after 1 year is $124,200 for sure. How would you determine the opportunity cost of capital for this investment
Description of each of various ethical theories are accurate : Ensure that the analysis and description of each of the various ethical theories are accurate.
Effects of rent control on the apartment market : Talk about the consumers who are lucky enough to get rent-controlled apartments and those that are not. What are the effects of rent control on the apartment ma
Good shift the demand curve of a good : Consider a market with demand function QD = 150 - 2P + PR, where PR is the price of a related good.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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