A wholesale firm made sales with the following list prices and trade discounts. Calculate the amount the firm will use to record each sale in the sales journal. A. List price of $1,700 and trade discount of 55 percent. B. List price of $1,300 and trade discount of 45 percent. C. List Price of $2,200 and trade discounts of 30 and 20 percent. (Round your answer to 2 decimal places.) A Amount B. Amount C. Amount

A wholesale firm made sales with the following list prices and trade discounts. Calculate the amount the firm will use to record each sale in the sales journal. A. List price of $1,700 and trade discount of 55 percent. B. List price of $1,300 and trade discount of 45 percent. C. List Price of $2,200 and trade discounts of 30 and 20 percent. (Round your answer to 2 decimal places.) A Amount B. Amount C. Amount

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Cathy's bakery purchased goods for $4,400 (including GST) on credit, terms 4/15, n/30. The entry in the business' records to record payment for the goods within the discount period under a perpetual inventory system would include a: Select one: O a. Credit to purchase discount of $160 O b. Credit to inventory of $160 O c. Credit to inventory of $176 O d. Credit to purchases discount of $176
Calculate the credit given for the partial payment and the net amount due on the invoice (in $). (Round your answers to the nearest cent.) AMOUNT OF INVOICE : $8,303.00 TERMS OF SALE : 2/10, N/30 PARTIAL PAYMENT: 2,800
28) MN traders has the purchases of RO 76,500, purchases returns and allowances of RO 1,900, transportation cost of RO 500 and purchase discount of RO 300. Calculate the amount of Net cost of purchases made by the business. a. RO 74,800 b. RO 77,100 c. RO 73,800 d. RO 75,400 Clear my choice
Dog Merchandise with a sales price of $5,200 is sold on account with terms 2/10, n/30. The journal entry to record the sale would include a a. debit to Sales Discounts for $104 b. debit to Cash for $5,200 c. credit to Sales for $5,096 d. debit to Accounts Receivable for $5,076
Explain how to do the problem.
Important Note! Before you start working on this problem, watch the Hint video. This video shows you exactly how to work this problem. Compute the amount to be paid for each of the four separate invoices assuming that all invoices are paid within the discount period a. b. Merchandise (gross) $ S C. $ d. $ 7,800 24,200 80.600 17,000 Terms 2/10, n/60 1/15, n/90 1/10, n/30 3/15, n/45 Payment
what is the terminology for the lowest price listed on a stock market exchange at which an investor is willing sell a specific stock? A- market price B- buyer price C- Ask price D- bid price
Nevada Company provided services with a list price of $48,500 to Small Enterprises with terms 2/15, n/45. Nevada records sales at gross. Required: Question Content Area 1. Prepare the entry to record this sale in Nevada's journal 2. Prepare the entry for Nevada's journal to record receipt of cash in payment for the sale within the discount period. If an amount box does not require an entry, leave it blank. 3.Prepare the entry for Nevada's journal to record receipt of cash in payment for the sale after the discount period.
Details of a purchase invoice and related credit memo are summarized as follows: Invoice: Cost of merchandise listed on purchase invoice $6,500 Prepaid freight charge added to invoice 150 Terms, FOB shipping point, 1/10, n/eom $1,500 Credit memo: Cost of merchandise returned Assume that the credit memo was received prior to payment and that the invoice is paid within the discount period. Determine the following: (a) Amount of the cash discount allowed. (b) Amount to be paid by the purchaser if the discount is taken. (c) Cost of the merchandise to the purchaser if the discount is NOT taken.
A customer returns $870 worth of merchandise and receives a full refund. What accounts recognize this sales return (disregarding the merchandise condition entry) if the return occurs before the customer remits payment to the retailer? A. accounts receivable, sales returns and allowances B. accounts receivable, cash C. sales returns and allowances, merchandise inventory D. accounts receivable, cost of goods sold
Record the cost of goods sold. (Round intermediary calculations to two decimal places. Round your final answer to the nearest whole dollar.) DEBIT/CREDIT AMOUNTS Accounts Moving-Weighted-Average Record the payment of operating expenses. Accounts DEBIT/CREDIT AMOUNTS Moving-Weighted-Average FIFO FIFO
JoJo's recorded credit sales of $10,000 on the gross method. Terms are 2/20, n/30. Select the correct statement about the entry to record this sale. Question 3 options: Accounts receivable increases $10,000. Sales increase $9,800 Sales discounts increase $200 All of the above are correct

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