Reference no: EM132946223
Problem 1: A company that uses the perpetual inventory system purchases inventory for $61,000 on? account, with terms of 2?/10, ?n/30. Which of the following is the journal entry to record the payment made within 10? days?
a. debit to Merchandise Inventory for $1,220?, a debit to Accounts Payable for $61,000?, and a credit to Cash for 62,220
b. a debit to Accounts Payable for $59,780?, a debit to Merchandise Inventory for $1,220?, and a credit to Cash for $61,000
c. a debit to Accounts Payable for $61,000?, a credit to Merchandise Inventory for $1,220?, and a credit to Cash for $59,780
d. debit to Accounts Payable for $61,000?, a credit to Cash for $1,220?, and a credit to Merchandise Inventory for 59,780
|
What is the amount n must have paid for each quarter
: What is the amount N must have paid for each quarter for 2019 to avoid any penalty or interest for underpayment of estimated tax?
|
|
What amount should appear as trade accounts receivable
: Trade accounts receivable 400,000 including P50,000 due from ITS Company. What amount should appear as trade accounts receivable
|
|
What sheffield diluted earnings per share would be
: No potentially dilutive securities other than the convertible bonds were outstanding during 2021. Sheffield's diluted earnings per share for 2021 would be
|
|
What is the correct amount of inventory
: What is the correct amount of inventory that should be reported in BANQUIAO Company's statement of financial position of December 31, 2019
|
|
Which is the journal entry to record the payment made
: Which is the journal entry to record the payment made within 10? days? A company that uses the perpetual inventory system purchases inventory for $61,000
|
|
Find what is the monthly loan payment
: What is the monthly loan payment? ou want to buy a car, and a local bank will lend you $30,000. The loan would be fully amortized over 3 years.
|
|
How many units should be produced in January
: If there were 73200 units on hand on December 31, 2019, how many units should be produced in January 2020 for the company to meet its goals
|
|
What is its net income for company xyz
: Company XYZ has sales of $6500, total assets of $2950, and an equity multiplier (leverage) of 0.65. If its return on equity is 10%, what is its net income?
|
|
Calculate the amount of capital Jordan will need
: Jordan, age 46, currently makes $143,000. Calculate the amount of capital Jordan will need at retirement according to the capital preservation method
|