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As part of the employment interview for an accounting job at Sound Design, you have been asked to answer the questions below, based on an invoice from one of Sound Design's vendors, Target Electronic Wholesalers. Invoice Table TARGET ELECTRONIC WHOLESALERS 1979 N.E. 123 Street Jacksonville, Florida 32204 Sold to: Sound Design 480 McDowell Rd. Phoenix, AZ 85008 Invoice Date: June 28, 20XX Terms of Sale: 3/15, n/30 ROG Stock # Description Stereo Receivers Unit Price Amount 4811V 50 x $292.50 = 511CX Blu-Ray Players 25 x $134.28 = 6146M Home Theater Systems 40 x $654.12 = 1031A LCD TVs 20 x $597.00 = Merchandise Total Insurance + Shipping $1,350.00 Invoice Total (a) Complete the invoice itemization by finding the total amount (in $) for each item, the merchandize total (in $), and the total amount of the invoice (in $). Stock # Description Unit Price Amount 4811V Stereo Receivers 50 x $292.50 511CX Blu-Ray Players 25 x $134.28 2$ 6146M Home Theater Systems 40 x $654.12 $ 1031A LCD TVs 20 x $597.00 Merchandise Total Insurance + Shipping Invoice Total $ (b) What are the discount date and the net date if the shipment arrived on July 14? Discount Date Select--- Net Date --Select-- (c) While in transit, five Blu-ray players and four LCD TVs were damaged and will be returned. What is the amount (in $) of the returned merchandise? What is the revised merchandise total (in $)? Returned merchandise $ Revised merchandise total %24

As part of the employment interview for an accounting job at Sound Design, you have been asked to answer the questions below, based on an invoice from one of Sound Design's vendors, Target Electronic Wholesalers. Invoice Table TARGET ELECTRONIC WHOLESALERS 1979 N.E. 123 Street Jacksonville, Florida 32204 Sold to: Sound Design 480 McDowell Rd. Phoenix, AZ 85008 Invoice Date: June 28, 20XX Terms of Sale: 3/15, n/30 ROG Stock # Description Stereo Receivers Unit Price Amount 4811V 50 x $292.50 = 511CX Blu-Ray Players 25 x $134.28 = 6146M Home Theater Systems 40 x $654.12 = 1031A LCD TVs 20 x $597.00 = Merchandise Total Insurance + Shipping $1,350.00 Invoice Total (a) Complete the invoice itemization by finding the total amount (in $) for each item, the merchandize total (in $), and the total amount of the invoice (in $). Stock # Description Unit Price Amount 4811V Stereo Receivers 50 x $292.50 511CX Blu-Ray Players 25 x $134.28 2$ 6146M Home Theater Systems 40 x $654.12 $ 1031A LCD TVs 20 x $597.00 Merchandise Total Insurance + Shipping Invoice Total $ (b) What are the discount date and the net date if the shipment arrived on July 14? Discount Date Select--- Net Date --Select-- (c) While in transit, five Blu-ray players and four LCD TVs were damaged and will be returned. What is the amount (in $) of the returned merchandise? What is the revised merchandise total (in $)? Returned merchandise $ Revised merchandise total %24

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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As part of the employment interview for an accounting job at Sound Design, you have been asked to answer the questions below, based on an invoice from one of Sound Design's vendors, Target Electronic Wholesalers. Invoice Table TARGET ELECTRONIC WHOLESALERS 1979 N.E. 123 Street Jacksonville, Florida 32204 Sold to: Sound Design 480 McDowell Rd. Phoenix, AZ 85008 Invoice Date: June 28, 20XX Terms of Sale: 3/15, n/30 ROG Stock # Description Unit Price Amount 4811V Stereo Receivers 50 x $292.50 = 511CX Blu-Ray Players 25 x $134.28 = 6146M Home Theater Systems 40 x $654.12 = 1031A LCD TVs 20 x $597.00 = Merchandise Total Insurance + Shipping $1,350.00 Invoice Total (a) Complete the invoice itemization by finding the total amount (in $) for each item, the merchandize total (in $), and the total amount of the invoice (in $). Stock # Description Unit Price Amount 4811V Stereo Receivers 50 x $292.50 $ 511CX Blu-Ray Players 25 x $134.28 6146M Home Theater Systems 40 x $654.12 $ 1031A LCD TVs 20 x $597.00 $ Merchandise Total $ Insurance + Shippin $ Invoice Total (b) What are the discount date and the net date if the shipment arrived on July 14? Discount Date Select-- Net Date ---Select--- (c) While in transit, five Blu-ray players and four LCD TVs were damaged and will be returned. What is the amount (in $) of the returned merchandise? What is the revised merchandise total (in $)? Returned merchandise Revised merchandise total $ (d) What are the amount (in $) of the cash discount and the net amount due if the discount is taken? (Round your answers to the nearest cent.) Cash discount Net amount due $4 (e) If Sound Design sends in a partial payment of $30,000.00 within the discount period, what is the net balance (in $) still due? (Round your answer to the nearest cent.) $
Transcribed Image Text:As part of the employment interview for an accounting job at Sound Design, you have been asked to answer the questions below, based on an invoice from one of Sound Design's vendors, Target Electronic Wholesalers. Invoice Table TARGET ELECTRONIC WHOLESALERS 1979 N.E. 123 Street Jacksonville, Florida 32204 Sold to: Sound Design 480 McDowell Rd. Phoenix, AZ 85008 Invoice Date: June 28, 20XX Terms of Sale: 3/15, n/30 ROG Stock # Description Unit Price Amount 4811V Stereo Receivers 50 x $292.50 = 511CX Blu-Ray Players 25 x $134.28 = 6146M Home Theater Systems 40 x $654.12 = 1031A LCD TVs 20 x $597.00 = Merchandise Total Insurance + Shipping $1,350.00 Invoice Total (a) Complete the invoice itemization by finding the total amount (in $) for each item, the merchandize total (in $), and the total amount of the invoice (in $). Stock # Description Unit Price Amount 4811V Stereo Receivers 50 x $292.50 $ 511CX Blu-Ray Players 25 x $134.28 6146M Home Theater Systems 40 x $654.12 $ 1031A LCD TVs 20 x $597.00 $ Merchandise Total $ Insurance + Shippin $ Invoice Total (b) What are the discount date and the net date if the shipment arrived on July 14? Discount Date Select-- Net Date ---Select--- (c) While in transit, five Blu-ray players and four LCD TVs were damaged and will be returned. What is the amount (in $) of the returned merchandise? What is the revised merchandise total (in $)? Returned merchandise Revised merchandise total $ (d) What are the amount (in $) of the cash discount and the net amount due if the discount is taken? (Round your answers to the nearest cent.) Cash discount Net amount due $4 (e) If Sound Design sends in a partial payment of $30,000.00 within the discount period, what is the net balance (in $) still due? (Round your answer to the nearest cent.) $
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