Freight Terms Determine the amount to be paid in full settlement of each of two voices,...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Freight Terms Determine the amount to be paid in full settlement of each of two voices, (a) and (b), assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period. If required, round the answers to the nearest dollar. a. b. a. b. Merchandise (Invoice Amount) $9,350 4,100 9,363 X 3,170 Freight Paid by Seller $200 200 Freight Terms FOD destination, 2/10, n/30 FOB shipping point, 1/10, 1/30 Returns and Allowances (Invoice) Amount) $1,800 1,100 Freight Terms Determine the amount to be paid in full settlement of each of two voices, (a) and (b), assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period. If required, round the answers to the nearest dollar. a. b. a. b. Merchandise (Invoice Amount) $9,350 4,100 9,363 X 3,170 Freight Paid by Seller $200 200 Freight Terms FOD destination, 2/10, n/30 FOB shipping point, 1/10, 1/30 Returns and Allowances (Invoice) Amount) $1,800 1,100
Expert Answer:
Answer rating: 100% (QA)
Question sona Amount to be paid Merchadire price Re... View the full answer
Related Book For
Cornerstones of Financial and Managerial Accounting
ISBN: 978-1111879044
2nd edition
Authors: Rich, Jeff Jones, Dan Heitger, Maryanne Mowen, Don Hansen
Posted Date:
Students also viewed these finance questions
-
The set of items below was identified in preparing a bank reconciliation for Mars Corp, as of August 31, 2017. Bank statement balance $19,500 Mars's book balance (before adjustments) Outstanding...
-
The accountant for Bellows Corp. was preparing a bank reconciliation as of April 30. The following items were identified: Bellows book balance ............ $28,750 Outstanding checks ................
-
Indicate whether each of the items listed below would be included (I) in or excluded (E) from gross income for the 2014 tax year. _______________ a. Welfare payments _______________ b. Commissions...
-
Research serves as a guide by which to study, describe, and quantify an array of social and physical phenomenon. Theory, which is best described as a set of propositions or hypotheses that specify...
-
Repeat Problem P7.22 for the loop transfer function Gc(s)G(s) of Problem P7.1(c). Problem P7.22 Determine the root sensitivity of the dominant roots of Problem P7.1(a) when K is set so that the...
-
On March 1, 2016, Sealy Company sold its 5-year, 1,000 face value, 9% bonds dated March 1, 2016, at an effective annual interest rate (yield) of 11%. Interest is payable semiannually, and the first...
-
One critical-thinking skill is a heightened awareness of the danger of reaching a conclusion prior to acquiring missing information that were it known would have a reasonable probability of altering...
-
On January 1, 2014, Primo Corporation had the following stockholders equity accounts. Common Stock ($10 par value, 75,000 shares issued and outstanding) .....$750,000 Paid-in Capital in Excess of...
-
Each of the following actions, except for one, is considered subversion. Which of these answers is not a form of subversion? Reproducing exam material without authorization. Bringing a calculator...
-
For the case The WM. Wrigley Jr. Company: Capital Structure, Valuation, and the Cost of Capital(Darden Case: UVAF1482) please answer the following questions and explain your reasoningwhere...
-
A friend argues that, even when the assumptions behind the Modigliani and Miller (M&M) Theorems hold (e.g., no taxes), the cost of assets (ra) goes up when a firm increases the fraction of debt in...
-
1. Explain the difference between accounting, regulatory and internal provisioning policies. 2. Why are some parts of the business cycle identified with increased numbers of problem loans? 3. Would...
-
10. Proponents of the efficiency standard argue that, over time, role as consumers if is pursued at every turn. will benefit in their
-
Which mentorship program do you prefer and feel is most effective? Informal or Formal Why? Article 1 "Informal Mentoring Program Boosts Employee Engagement"...
-
1. Do you think diversity training is effective? If so, what about it makes it effective? If not, what would you do to improve diversity outcomes in organizations? 2. Do you think increasing age...
-
Prepare the closing entries that were made. Credit account titles are automatically indented when amount is entered. Do not indent manuallyIf no entry is required, select No Entryfor the account...
-
Two football players collide head-on in midair while chasing a pass. The first player has a 101.5 kg mass and an initial velocity of 4.40 m/s, while the second player has a 124 kg mass and initial...
-
You are the newly appointed tax practitioner to complete Emilys tax return and have downloaded the prefill report for Emilys tax return (hint, you can read what a prefill report is here (Links to an...
-
Consolidated balance sheets for Karofsky Computer follow. LIABILITIES AND STOCKHOLDERS EQUITY Required: 1. Prepare common size balance sheets for vertical analysis (in percentage terms, rounded to...
-
On January 1, 2011, Stern Corporation purchased 100 shares of common stock issued by Milstein, Inc. (representing 12 percent of the total shares outstanding) for $ 6,000 and 500 shares of Heifetz...
-
Kauai Adventures rents and sells surfboards and snorkeling and scuba equipment. During March, Kauai engaged in the following transactions: March 2 Received $41,200 cash from customers for rental 3...
-
The following are summaries of the cash book and bank accounts of J. Duncan who does not keep his books using the double entry system. You are required to: (a) Calculate the value of J. Duncan's...
-
Read the following and answer the questions below. On 31 December 2015 the bank column of C. Tench's cash book showed a debit balance of 1,500. The monthly bank statement written up to 31 December...
-
The bank columns in the cash book for June 2016 and the bank statement for that month for D. Hogan are as follows: You are required to: () Write the cash book up to date to take the above into...
Study smarter with the SolutionInn App