Goods worth Rs.10, 000 were purchased by B on which the traders allowed Rs.500 trade discount...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Goods worth Rs.10, 000 were purchased by B on which the traders allowed Rs.500 trade discount and offer to given 5% cash discount if immediate payment is made. The Purchase A/c will be debited by A B C D Rs. 10,000 Rs.9, 800 Rs.9,000 Rs.9, 500 Goods worth Rs.10, 000 were purchased by B on which the traders allowed Rs.500 trade discount and offer to given 5% cash discount if immediate payment is made. The Purchase A/c will be debited by A B C D Rs. 10,000 Rs.9, 800 Rs.9,000 Rs.9, 500
Expert Answer:
Answer rating: 100% (QA)
Discount are two types trade discount and cash discount Trade d... View the full answer
Related Book For
Accounting Principles
ISBN: 978-0470533475
9th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Posted Date:
Students also viewed these accounting questions
-
The Old English Garden Shop is a retail store that sells garden equipment, furniture, and supplies. Its credit purchases and purchases returns and allowances for July are listed below. The general...
-
Part (d) (10 points) Reproduce your diagram from part (c). Suppose that the household were offered Plan 2 instead of Plan 1. Would the household be better off, worse off, or indifferent? Support your...
-
The fundamentals of finance are said to be the concept of 'Risk and Return' and secondly the 'Time Value of Money'. Critically evaluate how investment appraisal techniques can take account of both...
-
Would individual mandates for health insurance be more or less burdensome to the poor than employer mandates? Would lower-income groups be wise to favor one plan over the other?
-
You perform the hypothetical reaction of an element, X2(g), with another element, Y(g), to produce XY(g). a. Write the balanced chemical equation for the reaction. b. If X2 and Y were mixed in the...
-
Weather Aerodynamics, Inc., makes electronically equipped weather-detecting balloons for university meteorology departments. Because of recent nationwide inflation, the companys management has...
-
Daphne Brown-Wright worked as a teacher for East St. Louis School District 189 from 1975 until 1998 and then returned as an administrator from 2002 until 2012, thus serving the District for 33...
-
Calculating acquisition costs of long-lived assets. Outback Steakhouse opened a new restaurant on the site of an existing building. It paid the owner $260,000 for the land and building, of which it...
-
Design Deterministic Finite Automata with for each of the following independent specifications. Design a DFA that accepts the words that have odd number of's. Design a DFA where the members of has at...
-
The following diagram represents a high-temperature reaction between CH4 and H2O. Based on this reaction, how many moles of each product can be obtained starting with 4.0 mol CH4?
-
What is the difference between organized stock exchanges and over-the-counter sales markets?
-
ACTIVITY-BASED COSTING, COST DRIVERS Southern Metals Company's controller has established these overhead cost pools and cost drivers for Overhead Cost Pool Machine setups Power Materials handling...
-
Marcel leases a garage. He must pay $300 every week for his lease regardless of how many cars he fixes. The number of cars he fixes each week depends on how many mechanics he hires. The table below...
-
What is the importance of Information system auditing in the financial sector, and how does information system auditing support financial auditing? Use in - text citations, and references and provide...
-
From the following information prepare income statement Revenue 50.000 Salaries 10.000 Rent 10.000 Advertising 10.000 From the following information prepare financial position statement Land 10.000...
-
At the end of the accounting period, Meyer Company has a balance of $ 2 7 , 0 0 0 in the Service Revenue account. What entry should be made to close the Service Revenue account? Select answer from...
-
6) A firm is evaluating three mutually exclusive capital budgeting projects. The net present value of each project is shown below. Given this information, which project(s) should the firm accept?...
-
Using a graphing utility, graph y = cot -1 x.
-
Kenny Hampton is an accountant for Bartley Company. Early this year Kenny made a highly favorable projection of sales and profits over the next 3 years for Bartleys hot-selling computer PLEX. As a...
-
Frontier Park was started on April 1 by C. J. Mendez. The following selected events and transactions occurred during April. Apr. 1 Mendez invested $40,000 cash in the business. 4 Purchased land...
-
Your roommate asks your help on the following questions about CVP analysis formulas. (a) How can the mathematical equation for break-even sales show both sales units and sales dollars? (b) How do the...
-
Portugal has a progressive personal income tax system. In 2016, tax rates on taxable income were \(14.5 \%\) on the first \( 7,035,21 \%\) on the next \( 13,065,37 \%\) on the next \( 20,100,45 \%\)...
-
In its 2016 International Tax Competitiveness Index report, the U.S.-based Tax Foundation ranked Estonia as having the most competitive tax system in the OECD, based in part on its \(20 \%\) flat tax...
-
A lump-sum tax is a fixed amount of tax per person. If a lump-sum tax, \(T\), raises the same amount of revenue for the government as a tax on earnings at the rate, \(t\), then \(t w H=T\), where...
Study smarter with the SolutionInn App