Versace Merchandising purchased merchandise from Givenchy Company with a list price of P 36,000, trade discount...
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Versace Merchandising purchased merchandise from Givenchy Company with a list price of P 36,000, trade discount of 10% and 5%, terms 1/10, n/30 FOB destination, freight collect. Freight charges amounted to P1,000. Versace returned defective merchandise with a list price of P4,000 and later paid the amount due within the discount period. How much was the amount collected by Givenchy? (Ignore VAT) (2 Points) Enter your answer As of May 31, 2020, Mr. Michael Kors has a capital balance of P 235,000. During the month of June, he withdrew P15,000 to be used for his annual medical checkup. His company's Statement of Comprehensive Income reveals various expenses totaling P 89,000 thereby a Net Loss of P 7,150. During the same period, he was unable to pay a note amounting to P 50,000. How much would be the capital balance of Mr. Michael Kors at the end of June, 2020? Versace Merchandising purchased merchandise from Givenchy Company with a list price of P 36,000, trade discount of 10% and 5%, terms 1/10, n/30 FOB destination, freight collect. Freight charges amounted to P1,000. Versace returned defective merchandise with a list price of P4,000 and later paid the amount due within the discount period. How much was the amount collected by Givenchy? (Ignore VAT) (2 Points) Enter your answer As of May 31, 2020, Mr. Michael Kors has a capital balance of P 235,000. During the month of June, he withdrew P15,000 to be used for his annual medical checkup. His company's Statement of Comprehensive Income reveals various expenses totaling P 89,000 thereby a Net Loss of P 7,150. During the same period, he was unable to pay a note amounting to P 50,000. How much would be the capital balance of Mr. Michael Kors at the end of June, 2020?
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Solution 1 Calculation of the amount collected by Givenchy List price of merchandise P360... View the full answer
Related Book For
Financial Accounting An Introduction to Concepts, Methods and Uses
ISBN: 978-1133591023
14th edition
Authors: Roman L. Weil, Katherine Schipper, Jennifer Francis
Posted Date:
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