Adams Electronics of Chicago sold Taylor Manufacturing of Detroit computer equipment with a $15,800 list price. Sale terms were 3/10, n/30 FOB Chicago. Adams agreed to prepay the $125 freight. Taylor pays the invoice within the discount period. What does Taylor pay Adams?
Q: Tutor need your help
A: To find the percent change in operating income, we can use the degree of operating leverage (DOL)…
Q: The analyst's estimate of total assets at year-end should be closest to ?
A: Step 1: Definition of Balance SheetA balance sheet is a financial statement that provides a snapshot…
Q: Financial Accounting
A: Step 1: Define Cost of Goods Sold (COGS)Cost of Goods Sold (COGS) represents the direct costs…
Q: If Ram Nation can give up one unit of future consumption and as a result increase its current…
A: This problem is related to the real interest rate and intertemporal consumption trade-off. The real…
Q: Ans
A: Let's solve the problem step by step.Given:Selling Price (SP) = $95Markup Percentage (based on…
Q: Step by step Answer
A:
Q: Cameron Enterprises experienced a net income or net loss of what amount?
A: Concept of RevenueRevenue represents the total amount of money a company earns from its business…
Q: Answer? General accounting question
A: Step 1: Define Cash Proceeds from Bond IssuanceCash Proceeds from bond issuance refer to the amount…
Q: I want Solution with correct option
A: Step 1: To allocate joint costs using the value basis, you can use the relative market values of the…
Q: General Accounting
A: Step 1: Define Gross ProfitGross profit is the financial metric that represents the difference…
Q: Please give me answer general accounting question
A: Step 1: Definition of Accounting EquationThe accounting equation states that:Assets = Liabilities +…
Q: provide correct answer of this General accounting question
A: Step 1: Define Days to Collect (Average Collection Period)The Days to Collect (Average Collection…
Q: On May 1, Dark Horizons Inc. had a beginning cash balance of $200. April sales were $500, and May…
A: Explanation of Beginning Cash Balance: This represents the amount of cash a company has on hand at…
Q: DeltaTech uses the straight-line method. Assets purchased between the 1st and 15th of the month are…
A: Depreciation is the process of allocating the cost of a fixed asset over its useful life. Since…
Q: HELP
A: Step 1:The straight-line method is one of the methods to calculate the depreciation expense. It is…
Q: What is the per-unit manufacturing cost under variable costing?
A: Concept of Variable CostingVariable Costing is an accounting method where only variable…
Q: NO WRONG ANSWER
A: Step 1:The unamortized premium is reported as liability in the balance sheet, hence added to the…
Q: I want to correct answer general accounting question
A: Step 1: Definition of Trade Discount DecisionA trade discount allows a buyer to pay a reduced price…
Q: Correct answer
A: Step 1: DefinitionsContribution Margin - The contribution margin is the portion of sales revenue…
Q: What's the solution?
A: Concept of Variable CostingVariable costing is a method of inventory valuation that includes only…
Q: What is the value of the total assets?
A: To find the total assets, follow these steps: Step 1: Use the Debt-Equity Ratio FormulaThe…
Q: Account Question answer wanted.
A: Step 1: Definition of Return on Assets (ROA)Return on Assets (ROA) is a financial ratio that…
Q: Prepaid insurance account of
A: Step 1: Definition of Prepaid InsurancePrepaid insurance is an advance payment made for an insurance…
Q: For its first year of operations, Tringali Corporation's reconciliation of pretax accounting income…
A: Step 1: Definition of Deferred Income Tax LiabilityDeferred income tax liability is a tax obligation…
Q: HELP
A: Step 1:Introduction Flexible budget is the budget which change with change in activity.Variable cost…
Q: A manufacturer sells a product for $35 to a wholesaler, and the wholesaler sells it to a retailer.…
A: The producer sells the product to the wholesaler for $35, who then charges a 20% markup depending on…
Q: What is the total number of equivalent units?
A: Explanation of Process Costing System: Process costing is an accounting methodology used by…
Q: I want answer
A: To find the number of ribbons Daisy's must sell, we need to calculate the total contribution margin…
Q: A company has net sales of $12 million, a profit of $1,200,000, and a total asset turnover of 2.0…
A: The formula for Return on Assets (ROA) is: ROA=Total AssetsNet Profit×100 Total Assets can be…
Q: !?
A: Concept of Overhead CostsOverhead costs are the indirect expenses incurred by a company that cannot…
Q: General accounting
A:
Q: What amount is received as payment in full on March 24 for this accounting question?
A: Step 1: Define Cash DiscountA cash discount is a reduction in the invoice price granted by a seller…
Q: ???!!
A: Step 1:First calculate the net accounts receivable: Net accounts receivable = Gross accounts…
Q: York Enterprise purchased a new truck.
A: Calculation of Annual DepreciationAnnual Depreciation = (Purchase Cost - Salvage Value) / Useful…
Q: What is the total manufacturing overhead costs?
A: Explanation of Manufacturing Overhead Cost:Manufacturing overhead cost includes all indirect costs…
Q: How much Total sales are required to achieve a net income of 160000?
A: Explanation of Fixed Costs:Fixed costs are business expenses that remain constant regardless of the…
Q: How much overhead or over absorbed ?
A: Step 1: Definition of Over- or Under-Absorbed OverheadOver- or under-absorbed overhead refers to the…
Q: Want answer
A: Given data:Sales Revenue = 1,800 units × $35 per unit = $63,000Variable Cost = 1,800 units × $12 per…
Q: Solve this questions
A: Step 1: DefinitionsThe Cash Conversion Cycle (CCC) measures how long it takes for a company to…
Q: How many times per year does the company turnover its accounts receivable?
A: Accounts Receivable Turnover is a financial metric that measures how many times a company collects…
Q: overhead application rate
A: Step 1: Definition of Overhead Application RateThe overhead application rate is the rate used to…
Q: A company issues 40,000 shares of $5 par value common stock at $9 per share. As a result of this…
A: Step 1: Definition of Paid-in CapitalPaid-in Capital (also known as Additional Paid-in Capital -…
Q: capital gains this taxable income
A: Step 1: Definition of Capital GainCapital gain refers to an appreciation in the value of a security…
Q: Solve this financial accounting problem
A: Step 1: Define Projected Net IncomeProjected Net Income is the expected profit after all expenses,…
Q: Compute the standard cost of one unit of product
A: Explanation of Budgeted Direct Material Cost:Budgeted direct material cost represents the estimated…
Q: The debt-to-equity ratio after the dividend payment account
A: 1. Initial Values:Total Assets: $500 millionCash: $80 million (part of the assets)Debt: $200…
Q: Silverstone would report gross profit at the standard of
A: Explanation of Gross Profit:Gross Profit represents the difference between a company's total sales…
Q: Summit Corporation is considering acquiring Everest Inc. The balance sheet of Everest Inc. as of…
A: Step 1: Definition of GoodwillGoodwill is an intangible asset that arises when a company is acquired…
Q: materials price variance for part XBEZ52 was.
A: Step 1: Definition of Materials Price VarianceStandard cost is defined as the amount that a company…
Q: What was Ronny Electronics sales price variance?
A: Step 1:Introduction of topic Variance analysis is a method of comparison of actual data and budgeted…
I don't need
Step by step
Solved in 2 steps
- What does Lee pay Jordan's?Macy of New York sold LeeCo. of Chicago office equipment with a $5,600 list price. Sale terms were 5/10, n/30 FOB New York. Macy agreed to prepay the $80 freight. LeeCo. pays the invoice within the discount period. What does LeeCo. pay Macy?J.C. Penney of Boston sold office equipment for $12,000 to Lee's of San Diego. Terms of the sale are 3/10, n/30 FOB Boston. J.C. Penney has agreed to prepay freight $300. Assuming Lee's pays within the discount period, how much will Lee's pay J.C. Penney?
- Rahe Corp. sold a customer service contract with a price of $20,000 to Peterson Warehousing. Rahe Corp. offered terms of 2/10, n/30 and expects Peterson to pay within the discount period. Required: Prepare the journal entry to record the sale using the net method. Prepare the journal entry assuming the payment is made within 10 days (within the discount period).Bridgeport Incorporated sold building supplies listed at $69500 to Bonita Construction, a preferred customer. Bridgeport offers Bonita a 10 percent trade discount on all purchases. Terms of the sale to Bonita are 2/15, n/45. What amount of revenue should Bridgeport record for this sale if the company uses the net method? O $61299 ○ $69500 O $68110 O $62550On June 06, Talbots of Boston sold Forrest of Los Angeles $8,150 of fine clothes. Terms were 4/10 EOM FOB Boston. Talbots agreed to prepay the $80 freight. If Forrest pays the invoice on June 8, what will Forrest pay?
- Backyard World buys plastic pools from a supplier with an invoice amount of $13,500. The terms of the sale are 5/10, n/30. If the retailer sends a partial payment of $8,300 on the discount date, what is the net amount still due?XYZ Company purchased inventory worth $50,000 on credit terms of 2/10, n/30. Calculate the amount XYZ Company would pay if they settle the invoice within the discount period.Kurt Company purchased $5,000 of merchandise from Marilyn Company with terms of 2/10 n/40. What amount will Kurt Company pay to Marilyn Company, if Kurt Company takes advantage of the purchase discount?
- Ned's Sheds purchases building materials from Timbertown Lumber for $3,700 with terms of 4/15, n/30. The invoice is dated October 17. Ned's decides to send in a $2,000 partial payment. a) By what date must the partial payment be sent to take advantage of the cash discount? b) What is the net date? c) If partial payment was sent by the discount date, what is the balance still due on the order?Maplewood Supply received a $5,430 invoice dated 4/15/20. The $5,430 included $330 freight. Terms were one discount, assume date of last discount.) a. If Maplewood pays the invoice on April 27, 2020 what will it pay? Payable amount b. If Maplewood pays the invoice on May 21, what will it pay? Payable amount 4 3 n 10 " (If more than ' 30 60On July 18, 2021, Philly Furniture Factory sold 20 reclining rockers to Dave's Discount Furniture for $8,000, subject to terms 2/10, n/30. Philly uses the net method of accounting for sales discounts. Required: 1. Prepare the journal entry to record the sale. 2 & 3. Prepare the journal entries to record receipt of the payment, assuming the correct amount was received on July 26, 2021 and August 15, 2021.