We returned goods to BHind £82

Q: Compute the value at which this inventory item will be measured in company X’s statement of…

A:

Q: Compute the net profit if, Service Revenue OMR 110,000; Other income OMR12,000; salary Expenses OMR…

A: Theory concept: Net profit: Net profit is a income statement item. In income statement all the items…

Q: is fost by selling Selling goods for Rs 1475- what would be the loss or gain if they 13% goods are…

A: The selling price (SP) and cost price (CP) are important concepts in business and finance. The…

Q: will be the amount of payment on a bill of goods amounting to P6,700; terms 4/10, 3/20, n/30 dated…

A: According to Given information: Invoice Amount = P6,700 Invoice Date = August 16 and the Terms are…

Q: ABC Corp purchased goods for P20,000. Terms: less 5%, 7%, 2/10, n/30. FOB Shipping Point, Freight…

A: The accounts payable includes the amount due to be paid to suppliers for credit purchases of…

Q: During the current year, merchandise is sold for P86,000 cash and for P93,950 on account. The cost…

A: Gross profit = Sales - Cost of merchandise sold. First, compute the total sales as shown below:

Q: From the following information, calculate Net Profit (Loss) Sales RO 40520 Cost of the goods sold RO…

A: Income statement: Sales  =             40520 Less: COGS =    21400 Gross profit =    19120 Less:…

Q: The following relates to a single sale of goods made by Spurs in 2023: Selling price…

A: FOB refers to the Free on Board is the term which defines that whether buyer or the seller would be…

Q: Determine the amount to be paid in full settlement of each invoice, assuming that credit for returns…

A: In the case of FOB Shipping pointAmount to be paid = ( Purchases - Return ) * ( 1 - Discount rate )…

Q: Transaction Asset Liability Capital (d) The owner puts a further $5,000 cash into the business…

A: Basic accounting equation is  Total liabilities  + owners equity  = Total Assets

Q: During the current year, merchandise is sold for $175,700 cash and $654,900 on account. The cost of…

A: Income statement is one of the financial statements that shows profitability, total revenue and…

Q: TRR Enterprises sold products to customers on 30 June 2006 for a total price of €10,000. Th e terms…

A: Definition: Asset: Assets refer to the resources owned by the business, which are utilized in the…

Q: Amble Inc. exchanged a truck with a book value of $12,000 and a fair value of $20,000 for a truck…

A: When a fixed asset is exchanged for another fixed asset and the exchange has commercial substance,…

Q: On October 1, Ace Company purchased P6,000 worth of goods on terms of 2/10, n/30. Freight of P500…

A: Note: Under FOB destination freight is the seller's expense but under FOB shipping point, freight is…

Q: Complete the following by calculating the cash discount and net amount paid: Gross amount of…

A: Discounting terms are 2/10, n/60.  If payment is done within 10 days from 4/8, a discount of 2% is…

Q: During the current year merchandise is sold for $95,500 cash and $1,315,000 on account. The cost of…

A: Sales = Cash Sales + Credit Sales Sales = $95,500 + $1,315,000 Sales = $1,410,500

Q: Assuming Cristy is a non-VAT registered, will she be liable to VAT? Why? If YES, assume that sales…

A: VAT is the form of tax which have to be paid by the registered taxpayers of the vat and there are…

Q: f. The adjustment for customer returns and allowances is $60,000 for sales and $35,000 for cost of…

A: Inventory: Inventory refers to the stock of goods purchased, utilized and maintained by the company…

Q: During the current year, merchandise is sold for $56,800 cash and for $85,600 on account. The cost…

A: Gross profit is the difference between sales revenue and cost of goods sold. The cost of goods sold…

Q: The following information is available for Hudson Company: Disbursements for purchases…

A: The financial position of the company can be arrived from the income statement prepared by the…

Q: . Compute the commission and net proceeds for the sale on consignment. Gross Sales $42,800…

A: In this question, we are required to determine the commission and the net proceeds.

Q: A company purchased $2,700 of merchandise on July 5 with terms 2/10, n/30. On July 7, it returned…

A: Information provided:To determine:The amount of the cash paid.

Q: During the fiscal year 20x4, the initial inventory of the goods of company A is 15.000 €, purchases…

A: Cost of sales = Beginning inventory + Purchases - Closing inventory

Q: On May 11, 2023, Wilson Purchasing purchased $24,000 of merchandise from Happy Sales; terms 3/10,…

A: terms 3/10, n/90 it means if amount is paid within 10 days then 3 % discount is given and if amount…

Q: ntity A has a beginning inventory of ₱280,000. During the period Entity A purchased inventories…

A: Cost of goods sold is the amount of cost which is arrived by deducting ending inventory from the…

Q: During the current year, merchandise is sold for $237,500 cash and $625,000 on account. The cost of…

A: Gross profit means sales revenue earned over and above cost of goods that are sold to customers.…

Q: Crane Company purchased merchandise inventory with an invoice price of $13100 and creat of the goods…

A: The discount period is the last time to make payment with discounts allowed.  The payment made…

Q: During the year, an entity had net purchases of P100. If inventories had a net decrease of P20…

A: in order to find the cost of good sold the equation can be taken as opening stock and then in such…

Q: please can you explain the calculation behind this that lead to the conclusion that the loss is…

A: Loss is the amount which has been incurred by the business during the period and the same is…

Q: net profit

A: Here cost of Goods sold amount is Given. hence no requirement for closing stock , opening stock, Net…

Q: Entity A has gross purchases of ₱360,000. Freight paid on the purchases amounted to ₱50,000.…

A: Gross purchases = P 360,000 Freight = P 50,000 Purchase discount = P 20,000 Purchase return = P…

Q: A, B, and C formed a joint operation. The following were taken from the joint operation's books:…

A: A joint operation or a joint venture refers to an arrangement where the parties have the authority…