A firm purchased goods on April 27 with a purchase price of $500 and credit terms of

Fantastic news! We've Found the answer you've been seeking!

Question:

A firm purchased goods on April 27 with a purchase price of $500 and credit terms of 2/10 net 30. The firm paid for these goods on May 11. How much should the firm must pay for the goods?
a) 980

b) 900

c) 1,000

d) none of these options

Related Book For answer-question

Financial statements

ISBN: 978-007802531

5th Edition

Authors: Stephen Barrad

See More Books

Posted Date: May 01, 2022 03:40 PM

See More Questions

With a purchase price of $350,000, a small warehouse provides for an initial before-tax cash flow of $30,000, which grows by 6 percent per year. If the before-tax equity reversion after four years...
A new machine with a purchase price of $109,000, with transportation cost of $12,000, installation cost of $5,000, and special acquisition fees of $6,000, would have a cost basis of: A. $126,000 B....
Nazmi bought a bond for RM1,000 five years ago. That has a 20-year maturity and a 12 percent of coupon rate. Now he wishes to sell his bond to finance his small business considering the market price...
Bank Teller Staffing Plan As the teller supervisor at Montana Federal Credit Union you are responsible for developing a staffing plan for tellers that meets customer needs, satisfies the union...
On June 1, 2012, the City of Cape May authorized the construction of a police station at an expected cost of $250,000. Financing will be provided through transfers from a Special Revenue Fund. The...
When a company began sending literally millions of unsolicited e-mails per day to its subscribers, America Online (AOL) blocked the transmissions. The sender then sued claiming an abridgement of its...
Let $y_{i j}$ for $i=1, \ldots, b$ and $j=1, \ldots, k$ be the measurement for the unit assigned to the $j^{\text {th }}$ treatment in the $i^{t h}$ block. a. Show that \[S S_{T}=S S_{\text {Treat...
During the current year, Garrison Construction trades an old crane that has a book value of $80,000 (original cost $140,000 less accumulated depreciation $60,000) for a new crane from Keillor...
Consolidation Eliminating Entries, First Year Packer Corporation buys 85 percent of the voting stock of Slattery Inc. on January 1, 2023, at an acquisition cost of $10,000,000. The fair value of the...
Comparative balance sheets for 2021 and 2020 and a statement of income for 2021 are given below for Metagrobolize Industries. Additional information from the accounting records of Metagrobolize also...
3. The function f(x) = |x| has been transformed to y = af (k (x d)) + c according to the transformations listed below. A horizontal compression by a factor of 1/2 , a reflection in the x-axis, and...
Consider the function f(x)=x-5x+7x-3. (a) (i) Find f'(x) and "(x). [1 mark] (ii) Using Newton's method, find a root of f(x) starting with po =0.9 by completing the following table. Use FOUR decimal...
When we change the price of a good, the total effect (TE) in quantity demanded is caused by two separate effects, the substitution effect (SE) and income effect (IE). Therefore, we have: TE = SE + IE...
you will analyze the stock price data of a company of your choice. I want you to collect the stock price data for the company from December 2019 to December 2022. You can collect the data using any...
Consider the Turing Machine TM T (over the input alphabet = (a, b) given below. (b, B, R) (b, Y, R) (b, B, R) (a, X, R) (A, A, L) Start 2 3 4 (a, a, R) (a, a, R(b, b, R), (A, A, R) 5 (Y, Z, R) (A,...
1. R2 is now set to be the DHCP server to provide IP address for all PC1 to PC6. The first 15 usable IP addresses of the four networks are reserved for static IP addresses. Use the pool name LAN_A...
A 4-speed AT for a FWD vehicle is shown in the stick diagram. The clutch engagement schedule is shown in the table. The first gear ratio and the overdrive gear ratio are designed to be 2.96 and 0.68...
The water in tank A is at 270 F with quality of 10% and mass 1 lbm. It is connected to a piston/cylinder holding constant pressure of 40 psia initially with 1 lbm water at 700 F. The valve is opened,...
The following forecasts were prepared in 2008 for a firm with a cost of capital for its operations of 12 percent. Amounts are in millions of dollars. The common stockholders' equity at the beginning...
Why is it important to understand the business concept before valuing a firm?
In an equity research report, an analyst calculates a forward earnings yield of 12 percent. Noting that this yield is considerably higher than the 7 percent yield on a 10-year Treasury, she heads her...
When randomly selecting a day of the week, it is certain that you will select a day containing the letter y, so P(y) = 1. For Exercises 510, decide whether the statement makes sense (or is clearly...
If there is a 0.9 probability that it will rain sometime today, then there is a probability of 0.1 that it will not rain sometime today. For Exercises 510, decide whether the statement makes sense...
What do we mean when we say that the probability of getting 20 babies of the same gender when 20 random babies are born is 1/524,288? Is such an event unusual? Why or why not?

A firm purchased goods on April 27 with a purchase price of $500 and credit terms of

Question:

Expert Answer:

None of these options are correct The correct answer is 500 210 net 30 ... View the full answer

Financial statements

Students also viewed these general management questions