Need Help Please Provide answer Carol's Coats Company purchases a sewing machine, paying$3,000.00 plus GST. They paid shipping costs of $50.00 plusGST for delivery to their plant. An invoice from anelectrician for installation at $200.00 plus GST still needsto be paid.What would this purchase entry be?a. Debit Equipment $3,000.00, Credit Cash $3,000.00b. Debit Equipment $3,412.50, Credit Cash $3,412.50c. Debit Equipment $3,000.00, Debit Freight $50.00, DebitInstallation $200.00, Debit GST Paid $162.50, Credit Cash$3,412.50d. Debit Equipment $3,250.00, Debit GST Paid $162.50,Credit Accounts Payable $210.00, Credit Cash $3,202.50

Step 1: Define Goods and Services Tax (GST)The Goods and Services Tax (GST) is a multi-phase,…

Answered: Carol's Coats Company purchases a…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 4MC: A car dealership sells a car to a customer for $35,000. The customer makes a 10% down payment, and...

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Complete the following table. Purchase price of product Schwinn Mountain Bike $242, Down payment $100, Amount financed $142, Number of monthly payments 12, Amount of monthly payments $13.50, Total of monthly payments $162. What is the total finance charge?
Crane Company buys a delivery van with a list price of $55000. The dealer grants a 12% reduction in list price and an additional 1% cash discount on the net price if payment is made in 30 days. Sales taxes amount to $750 and the company paid an extra $650 to have a special device installed. What should be the recorded cost of the van? O $49316. O $48666. O $47916. O $49302.
please help me solve both questions
A car dealership sells a car to a customer for $35,000. The customer makes a 10% down payment, and the dealership finances the remaining 90% in-house. How much will the car dealership record in Accounts Receivable for this customer? A.$7,000 B.$19,250 C.$8,750 D.$31,500
Subject: accounting
Randy buys a lawn tractor costing $935.90. The store charges $35 for assembly and $30 for delivery. State taxesare 4% and local sales taxes are 2%. What is the total purchase price? (Round your answer to the nearest centif necessary) Group of answer choices $1,060.95 $1,057.05 $1,040.94 $1,000.90
6. A sari-sari store vendor buys some goods from a dealer who asks P15,950 at the end of 180 days. The vendor prefers to pay price at 13% simple interest. Find the cash price of the goods. cash and the dealer offers to compute the cash 7. Edward Cariaga loans P35,300 at 6½% simple interest, how long it will take him to get P3,800 interest? 8. Elmer Martin paid P26,800 on a loan made 4 months before at 92% simple interest. Find the interest generated. 9. If a principal of P13,300 earns interest of P1,500 in 3 years and 6 months, what interest rate is in effect? 10. Ruel Dayrit deposited P80,250 in a bank paying 5% simple interest for 4 years. How would he have in his account at the end of four years assuming that no withdrawals were made?
ramon hernandez saw the following advertisement for a used volkswagen bug and decided to work out the numbers to be sure the ad had no errors. cash price $7,880 down payment $0 annual percentage rate 14.53% deferred price $11,131.80 or 60 payments at $185.53 per month a. calculate the amount financed: $7,880 b. calculate the finance charge. (round your answer to the nearest cent.): $3,251.80 c. calculate the apr by table lookup. (use table 14.1(b).) (round your answers to 2 decimal places.): 14.50% to 14.75% d. calculate the monthly payment by formula. (round your answer to the nearest cent.): ?? Calculate the monthly payment by table lookup at 14.50% (Use table 14.2 round your answer to the nearest cent): ??
Mike purchases a bicycle costing $152.90. State taxes are 4% and local sales taxes are 2%. The store charges $20 for assembly. What is the total purchase price (in $)? (Round your answer to the nearest cent.) $ 182.08 Need Help? Read It Watch It Master It
Subject :- Account As part of a grant you are writing, you need to order 25 cases of paper. A company sells paper for $27.30 per case. How much money will you need to request to cover the cost of paper? A. $2.30 B. $25.00 C. $27.30 D. $52.30 E. $682.50
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