Question: FOB shipping point. Hi Need help with this entry! Kindly provide workings! Will give a thumbs up :) thanks alot! I am recording entry from

FOB shipping point. Hi Need help with this entry! Kindly provide workings! Will give a thumbs up :) thanks alot!

I am recording entry from view point of seller (ABC Notebooks Ltd)

A customer (XYZ Notebook Ltd) ordered 3000 notebooks @ $18 per notebook, payment terms on 10/45, n/90. ABC Notebooks Ltd uses FOB Shipping point shipping terms, XYZ Notebook Ltd will pay for the shipping. Later in the afternoon, ABC Notebooks Ltd send the notebooks via DHL, paying DHL the shipping cost of $500 which was then included in the invoice to XYZ Notebook Ltd. Expected delivery is 8 May and cost of good sold is $5 per notebook

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

In Example 6.3-6, use LP to determine the shortest routes between the following pairs of nodes: (a) Node 1 to node 5. (b) Node 2 to node 5. Example 6.3-6 In the network of Example 6.3-4, determine...

I've attached the question as a word file as well as the class text to help with the assignment. Thanks! c05MerchandisingOperationsandtheMultiple-StepIncomeStatement.qxd 8/14/10 2:14 PM Page 226...

I've attached the assignment as a word file, thanks! You can use the class readings for this week's assignments. c05MerchandisingOperationsandtheMultiple-StepIncomeStatement.qxd 8/14/10 2:14 PM Page...

Please answer all of the following questions. Chapter 4 questions Question 1 The Accounting Cycle - How do the different steps affect the financial statements? What is the effect on the financial...

$ millions for Research In Motion and Apple. 4-9, Nokia, Research in Motion, and Apple are competitors in the global marketplace. Key comparative figures for each company follow. Nokia* . . . . . . ....

Needing ANSWERS ASAP! Starting at pg 34 - Labeled Graded Project 06155200: Graded Project Instructions & Worksheets 1 Lesson 1: Business, Accounting, and You PROJECT GOAL The goal of this graded...

VIEW THE STEP-BY-STEP SOLUTION TO: Title: ABC Appliance Inherent Risk and Control Design Assessment Prepare Inherent Risks and Control Design Assessment. This course project/case... I.Title: ABC...

Perform the following tasks and document them in the ABC Risk and Material Memo Template Word document. Preliminary Inherent Risk Assessment - Review the description of ABC Appliances, Inc. and...

Please help me with the following. I have attached (3)assignments. Three assignments should be submitted when completed. Please follow directions and do no submit incomplete work. Highlight all...

Construct the confidence interval for Exercise assuming that s is known to be 5.013km. Find the confidence interval using the known value of S.

Read the different article about NAFTA and Discuss why you are either in favor of, or opposed to, NAFTA.

30. Mobile App Website Design. Based on a 2018 study, the average elapsed time between when a user navigates to a website on a mobile device until its main content is available was 14.6 seconds. This...

4. Find the points on the cardioid r = 4(1 - sine) at which there is a horizontal tangent line, a vertical tangent line, or a singular point

Visit your campus career center and gather information on interest and personality tests they offer or recommend to help individuals determine their career interests. Take one of the tests, have the...

What are the three purposes of an oral communication message? Identify a business scenario that would be appropriate for each purpose. (Objective 4)

Give emphasis to the important points in the following paragraph by varying (a) your pitch; (b) your volume; (c) your speed; and (d) your pitch, volume, and speed in appropriate combinations....