Homework Answers
| Credit Terms | Meaning | Date Paid | Amount owed (a) | % of cash discount (b) | Cash discount (c = a*b) | Amount Receivable (a - c) | |
| 1) | 1/15, n/30 | If principal amount is received withint 15 days from the date of sale then 1% cash discount is allowed to receive. If it exceeds 15 days then no discount is allowed. | April - 14. | $44,000 | 1% | $440 | $43,560 |
| 2) | n/30 | No cash discount | April - 28. | $44,000 | - | - | $44,000 |
| 3) | 2/10, n/30 | If principal amount is received withint 10 days from the date of sale then 2% cash discount is allowed to receive. If it exceeds 10 days then no discount is allowed. | April - 8. | $44,000 | 2% | $880 | $17.60 |
| 4) | 1/10, n/30 | If principal amount is received withint 10 days from the date of sale then 1% cash discount is allowed to receive. If it exceeds 10 days then no discount is allowed. | April - 15. | $44,000 | 1% | $440 | $43,560 |
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Question 1 Not complete Marked out of 4.00 P Flag question Cash Discount Calculations On April...
Question 1 Answer saved Marked out of 4.00p Flag question Cash Discount Calculations On April 1,...
Question 1 Answer saved Marked out of 4.00p Flag question Cash Discount Calculations On April 1, Gerald Company sold merchandise with a list price of $75,000. For each of the sales terms below, determine the proper amount of cash received: 2 3 4 Credit Terms Date Paid 1/15, n/30 April 14 n/30 April 28 2/10, n/30 April 8 1/10, n/30 April 15 पी 2 $ पी 0 पी पी & Save Answers Next →
Question 4 Not complete Marked out of 2.00 P Flag question Profitability Analysis Alex Enterprises reports...
Question 4 Not complete Marked out of 2.00 P Flag question Profitability Analysis Alex Enterprises reports the following information on its year-end income statement: Net Sales $190.000 Operating Expenses $20.000 Cost of Goods Sold 130.000 Other Income 10.000 Required Calculate Alex's gross profit percentage and return on sales ratio. (Round answer to one decimal place.) Gross profit percentage- Return on sales ratio- Check Previous Save Answers Copyright 2020 Cadet Businesses. All Rights Reserved | Terms of Use Poliore Pole Guide
Finish attempt ... eBook AP Question 3 Not complete Marked out of 13.00 P Flag question...
Finish attempt ... eBook AP Question 3 Not complete Marked out of 13.00 P Flag question Journal Entries for Purchase, Return, and Remittance-Perpetual System On April 13, the Albert Company purchased $26,000 of merchandise from the Krausman Company, with terms of 1/10, n/30. On April 15, Albert paid $400 to Ace Trucking Company for freight on the shipment. On April 18, Albert Company returned $900 of merchandise for credit. Final payment was made to Krausman on April 22. Albert Company...
Question 4 Not complete Marked out of 2.00 P Flag question Accounting for Purchase Discounts Ken...
Question 4 Not complete Marked out of 2.00 P Flag question Accounting for Purchase Discounts Ken Company purchased 55,000 of merchandise from Marilyn Company with terms of 3/10, 1/45. What percent discount will Ken Company get if it pays within the allowed discount period? If Ken Company fails to pay within the discount period, how many days does Ken Company have from the date of purchase before the payment is considered to be late? days Check Previous a Save Answers
Chapter 5 Exercises and Problems Navigation Finish attempt ... eBook Print Question 1 Not complete Marked...
Chapter 5 Exercises and Problems Navigation Finish attempt ... eBook Print Question 1 Not complete Marked out of 4.00 P Flag question Cash Discount Calculations On June 1, Meadow Company sold merchandise with a list price of $40,000. For each of the sales terms below, determine the proper amount of cash received: Credit Terms Date Paid 2/10, n/30 June 8 2 1/10, n/30 June 15 3 1/15, n/30 June 14 4 n/30 June 28 1 2 $ 3 4 $...
Question 2 Not yet answered Marked out of 40.00 P Flag question Journal Entries for Merchandise...
Question 2 Not yet answered Marked out of 40.00 P Flag question Journal Entries for Merchandise Transactions on Seller's and Buyer's Records-Periodic System The following are selected transactions for Jefferson, Inc., during the month of April: April 20 Sold and shipped on account to Lind Stores merchandise for $3,000, with terms of 1/10, n/30. April 27 Lind Stores returned defective merchandise billed at $300 on April 20. April 29 Received from Lind Stores a check for full settlement of the...
Question 7 Not complete Marked out of 4.00 P Flag question Determine and Use Overhead Rate...
Question 7 Not complete Marked out of 4.00 P Flag question Determine and Use Overhead Rate The following selected ledger accounts of Cameron Company are for February (the second month of its accounting year): Materials Inventory Feb. 1 balance 81.900 February credits 293,800 February debits 270,400 Manufacturing Overhead February debits 356.720 Feb. 1 balance 30.160 February credits 354,510 Work in Process Inventory Feb. 1 balance 58.240 February credits 897.000 February debits: Direct material 274,000 Direct Labor 393.900 Man overhead 354,510...
Finish attempt ... eBook Print Question 2 Not complete Marked out of 8.00 P Flag question...
Finish attempt ... eBook Print Question 2 Not complete Marked out of 8.00 P Flag question Journal Entries for Sale, Return, and Remittance-Perpetual System On September 13, Tomas Company sold merchandise with an invoice price of $1,200 ($600 cost), with terms of 2/10, n/30, to Dalton Company. On September 17, $250 of the merchandise ($80 cost) was returned because it was the wrong model. On September 23, Tomas Company received a check for the amount due from Dalton Company. Required...
Question 5 Not yet answered Marked out of 4.00 P Flag question Suppose zi = 1...
Question 5 Not yet answered Marked out of 4.00 P Flag question Suppose zi = 1 + 4i and z2 = 3 + 2i. Then 1 is equal to Select one: o a. 11 – 10i o b. 13 + 13 0 c. none of these 0 .-1+14, 0 Question 6 Not yet answered Marked out of 4.00 P Flag question Suppose y2 + 4x’y + 7x² = 11. Implicit differentiation gives = dy Select one: O a. none of...
Question 4 Not complete Marked out of 8.00 P Flag question Journal Entries for Merchandise Transactions...
Question 4 Not complete Marked out of 8.00 P Flag question Journal Entries for Merchandise Transactions on Seller's and Buyer's Books-Perpetual System The following are selected transactions for Lamont, Inc., during the month of June: June 21 Sold and shipped on account to Lowery Company. 56.880 (56.000 cost) of merchandise, with terms of 2/10, 1/30. 28 Lowery Company returned defective merchandise billed at 5680 on June 21 (5610 cost.) 30 Received from Lowery Company a check for full settlement of...
Question 1 Answer saved Marked out of 4.00p Flag question Cash Discount Calculations On April 1, Gerald Company sold merchandise with a list price of $75,000. For each of the sales terms below, determine the proper amount of cash received: 2 3 4 Credit Terms Date Paid 1/15, n/30 April 14 n/30 April 28 2/10, n/30 April 8 1/10, n/30 April 15 पी 2 $ पी 0 पी पी & Save Answers Next →
Question 4 Not complete Marked out of 2.00 P Flag question Profitability Analysis Alex Enterprises reports the following information on its year-end income statement: Net Sales $190.000 Operating Expenses $20.000 Cost of Goods Sold 130.000 Other Income 10.000 Required Calculate Alex's gross profit percentage and return on sales ratio. (Round answer to one decimal place.) Gross profit percentage- Return on sales ratio- Check Previous Save Answers Copyright 2020 Cadet Businesses. All Rights Reserved | Terms of Use Poliore Pole Guide
Finish attempt ... eBook AP Question 3 Not complete Marked out of 13.00 P Flag question Journal Entries for Purchase, Return, and Remittance-Perpetual System On April 13, the Albert Company purchased $26,000 of merchandise from the Krausman Company, with terms of 1/10, n/30. On April 15, Albert paid $400 to Ace Trucking Company for freight on the shipment. On April 18, Albert Company returned $900 of merchandise for credit. Final payment was made to Krausman on April 22. Albert Company...
Question 4 Not complete Marked out of 2.00 P Flag question Accounting for Purchase Discounts Ken Company purchased 55,000 of merchandise from Marilyn Company with terms of 3/10, 1/45. What percent discount will Ken Company get if it pays within the allowed discount period? If Ken Company fails to pay within the discount period, how many days does Ken Company have from the date of purchase before the payment is considered to be late? days Check Previous a Save Answers
Chapter 5 Exercises and Problems Navigation Finish attempt ... eBook Print Question 1 Not complete Marked out of 4.00 P Flag question Cash Discount Calculations On June 1, Meadow Company sold merchandise with a list price of $40,000. For each of the sales terms below, determine the proper amount of cash received: Credit Terms Date Paid 2/10, n/30 June 8 2 1/10, n/30 June 15 3 1/15, n/30 June 14 4 n/30 June 28 1 2 $ 3 4 $...
Question 2 Not yet answered Marked out of 40.00 P Flag question Journal Entries for Merchandise Transactions on Seller's and Buyer's Records-Periodic System The following are selected transactions for Jefferson, Inc., during the month of April: April 20 Sold and shipped on account to Lind Stores merchandise for $3,000, with terms of 1/10, n/30. April 27 Lind Stores returned defective merchandise billed at $300 on April 20. April 29 Received from Lind Stores a check for full settlement of the...
Question 7 Not complete Marked out of 4.00 P Flag question Determine and Use Overhead Rate The following selected ledger accounts of Cameron Company are for February (the second month of its accounting year): Materials Inventory Feb. 1 balance 81.900 February credits 293,800 February debits 270,400 Manufacturing Overhead February debits 356.720 Feb. 1 balance 30.160 February credits 354,510 Work in Process Inventory Feb. 1 balance 58.240 February credits 897.000 February debits: Direct material 274,000 Direct Labor 393.900 Man overhead 354,510...
Finish attempt ... eBook Print Question 2 Not complete Marked out of 8.00 P Flag question Journal Entries for Sale, Return, and Remittance-Perpetual System On September 13, Tomas Company sold merchandise with an invoice price of $1,200 ($600 cost), with terms of 2/10, n/30, to Dalton Company. On September 17, $250 of the merchandise ($80 cost) was returned because it was the wrong model. On September 23, Tomas Company received a check for the amount due from Dalton Company. Required...
Question 5 Not yet answered Marked out of 4.00 P Flag question Suppose zi = 1 + 4i and z2 = 3 + 2i. Then 1 is equal to Select one: o a. 11 – 10i o b. 13 + 13 0 c. none of these 0 .-1+14, 0 Question 6 Not yet answered Marked out of 4.00 P Flag question Suppose y2 + 4x’y + 7x² = 11. Implicit differentiation gives = dy Select one: O a. none of...
Question 4 Not complete Marked out of 8.00 P Flag question Journal Entries for Merchandise Transactions on Seller's and Buyer's Books-Perpetual System The following are selected transactions for Lamont, Inc., during the month of June: June 21 Sold and shipped on account to Lowery Company. 56.880 (56.000 cost) of merchandise, with terms of 2/10, 1/30. 28 Lowery Company returned defective merchandise billed at 5680 on June 21 (5610 cost.) 30 Received from Lowery Company a check for full settlement of...
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