Homework Answers
When seller is sales the goods under FOB shipping point then seller is not responsible to shipping charges but purchaser should have to paid shipping charges
But if seller sales the goods under FOB destination point then seller should have to paid shipping charges
So above statement is false
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FOB (free on board) destination Point means the seller is not responsible for the shipping charges....
FOB (free on board) Shipping Point means there is no charge for shipping the goods from...
FOB (free on board) Shipping Point means there is no charge for shipping the goods from the seller to the buyer. Select one: True False
(10 points) Merchandise can be shipped FOB (Free on Board) Shipping Point or FOB Destination. If FOB Shipping Point...
(10 points) Merchandise can be shipped FOB (Free on Board) Shipping Point or FOB Destination. If FOB Shipping Point, Circle the appropriate response: Ownership transfers at: Shipping Point Goods in Transit owned by: Buyer Transportation Costs paid by: Buyer Insurance during transit paid by: Buyer Destination Seller Seller Seller If FOB Destination, Circle the appropriate response: Ownership transfers at: Shipping Point Goods in Transit owned by: Buyer Transportation Costs paid by: Buyer Insurance during transit paid by: Buyer Destination Seller...
(10 points) Merchandise can be shipped FOB (Free on Board) Shipping Point or FOB Destination. If...
(10 points) Merchandise can be shipped FOB (Free on Board) Shipping Point or FOB Destination. If FOB Shipping Point, Circle the appropriate response: Ownership transfers at: Goods in Transit owned by: Transportation Costs paid by: Insurance during transit paid by: Shipping Point Buyer Buyer Buyer Destination Seller Seller Seller If FOB Destination, Circle the appropriate response: Ownership transfers at: Goods in Transit owned by: Transportation Costs paid by: Insurance during transit paid by: Shipping Point Buyer Buyer Buyer Destination Seller...
True-Pake F 1. FOB shipping point means the seller incurs the shipping costs. A company is...
True-Pake F 1. FOB shipping point means the seller incurs the shipping costs. A company is more likely to know the amount of inventory on hand at any time if it uses 2. the perpetual system than if it uses the periodic system. ue less cost of goods sold equals gross profit. of F 3. Net sales revenue T sales discounts and sales returns/allowances equals net sales. 5. A reduction given by the seller for sales discount by the seller....
17) Distinguish between the terms of FOB shipping point and FOB destination. Explain who would be...
17) Distinguish between the terms of FOB shipping point and FOB destination. Explain who would be responsible to pay the freight in each case. Smith Company has the following option: It can purchase 100 widgets for $75 dollars per widget basis FOB shipping point, or it can purchase 100 widgets at $80 per widget FOB destination Which is the better option for the Smith Company? Fully explain your answer. (10 points)
Question One Distinguish between FOB shipping point and FOB destination. Identify the freight terms that will...
Question One Distinguish between FOB shipping point and FOB destination. Identify the freight terms that will result in a debit to Inventory by the purchaser and a debit to Freight-out by the seller The income statement for a merchandising company presents five amounts not shown on a service company’s income statement. Identify and briefly explain the five unique amounts.
When a company repays the seller for shipping costs on an FOB shipping point transaction, which...
When a company repays the seller for shipping costs on an FOB shipping point transaction, which of the following is TRUE? O A. A purchase discount can still be taken on the gross amount of the invoice OB. A purchase discount cannot be taken when shipping charges are prepaid OC. A purchase discount can still be taken net of the prepaid shipping charges. OD. The shipping costs do not affect the invoice value
need a slide show and the links to the information resarch fob destination and fob shipping...
need a slide show and the links to the information
resarch fob destination and fob shipping point and make a 5 slide
powerpoint with pictures
Research the following: FOB destination FOB shipping point • Terms (ex. 1/10,n30) Assignment Requirements: Create and post a PowerPoint presentation • You must be creative by using pictures to describe how merchandise purchases flow through both an FOB destination and an FOB shipping point process. Make sure that the examples are clear enough that the...
Which one of the following statements is true? O FOB destinaton means the buyer has legal...
Which one of the following statements is true? O FOB destinaton means the buyer has legal title to the goods while they are in transit O FOB shipping point means the seller has legal title to the goods while they are in transit. O FOB destination means the seller has legal title to the goods until they reach the buyer's place of business O FOB shipping point means the buyer acquires legal title to the goods when they reach the...
If Inventory is sold FOB destination, the title transfers from seller to buyer: A.when the goods...
If Inventory is sold FOB destination, the title transfers from seller to buyer: A.when the goods reach their destination. B.when the buyer pays for the goods. C.when the goods leave the seller's place of business. D.when the seller sends the buyer an invoice. If Inventory is sold FOB shipping point, the title transfers from seller to buyer: A.when the goods reach their destination. B.when the buyer pays for the goods. C.when the goods leave the seller's place of business. D.when...
FOB (free on board) Shipping Point means there is no charge for shipping the goods from the seller to the buyer. Select one: True False
(10 points) Merchandise can be shipped FOB (Free on Board) Shipping Point or FOB Destination. If FOB Shipping Point, Circle the appropriate response: Ownership transfers at: Shipping Point Goods in Transit owned by: Buyer Transportation Costs paid by: Buyer Insurance during transit paid by: Buyer Destination Seller Seller Seller If FOB Destination, Circle the appropriate response: Ownership transfers at: Shipping Point Goods in Transit owned by: Buyer Transportation Costs paid by: Buyer Insurance during transit paid by: Buyer Destination Seller...
(10 points) Merchandise can be shipped FOB (Free on Board) Shipping Point or FOB Destination. If FOB Shipping Point, Circle the appropriate response: Ownership transfers at: Goods in Transit owned by: Transportation Costs paid by: Insurance during transit paid by: Shipping Point Buyer Buyer Buyer Destination Seller Seller Seller If FOB Destination, Circle the appropriate response: Ownership transfers at: Goods in Transit owned by: Transportation Costs paid by: Insurance during transit paid by: Shipping Point Buyer Buyer Buyer Destination Seller...
True-Pake F 1. FOB shipping point means the seller incurs the shipping costs. A company is more likely to know the amount of inventory on hand at any time if it uses 2. the perpetual system than if it uses the periodic system. ue less cost of goods sold equals gross profit. of F 3. Net sales revenue T sales discounts and sales returns/allowances equals net sales. 5. A reduction given by the seller for sales discount by the seller....
17) Distinguish between the terms of FOB shipping point and FOB destination. Explain who would be responsible to pay the freight in each case. Smith Company has the following option: It can purchase 100 widgets for $75 dollars per widget basis FOB shipping point, or it can purchase 100 widgets at $80 per widget FOB destination Which is the better option for the Smith Company? Fully explain your answer. (10 points)
When a company repays the seller for shipping costs on an FOB shipping point transaction, which of the following is TRUE? O A. A purchase discount can still be taken on the gross amount of the invoice OB. A purchase discount cannot be taken when shipping charges are prepaid OC. A purchase discount can still be taken net of the prepaid shipping charges. OD. The shipping costs do not affect the invoice value
need a slide show and the links to the information
resarch fob destination and fob shipping point and make a 5 slide
powerpoint with pictures
Research the following: FOB destination FOB shipping point • Terms (ex. 1/10,n30) Assignment Requirements: Create and post a PowerPoint presentation • You must be creative by using pictures to describe how merchandise purchases flow through both an FOB destination and an FOB shipping point process. Make sure that the examples are clear enough that the...
Which one of the following statements is true? O FOB destinaton means the buyer has legal title to the goods while they are in transit O FOB shipping point means the seller has legal title to the goods while they are in transit. O FOB destination means the seller has legal title to the goods until they reach the buyer's place of business O FOB shipping point means the buyer acquires legal title to the goods when they reach the...
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