Homework Answers
Add Answer to:
B) False . 4. Freight Out Expense is included in the cost of goods sold calculation....
1. Operating expenses include cost of goods sold. A) True B) False 2. For a merchandising...
1. Operating expenses include cost of goods sold. A) True B) False 2. For a merchandising company, the difference between net sales and operating expensesi. called gross margin. A) True B) False 3. Sales Returns and Allowances is described as a contra-revenue account. A) True B) False 4. Freight Out Expense is included in the cost of goods sold calculation. A) True B) False 5. General and administrative expenses are a category of operating expense. A) True B). False 6....
Which of the following items will require an adjusting journal entry on a company's books? O...
Which of the following items will require an adjusting journal entry on a company's books? O Outstanding checks O Deposits in transit O NSF check O Error made by the bank Which of the following costs should be added to the buyer's Inventory account? O Freight-in costs with terms FOB destination O Freight-in costs with terms FOB shipping point O Freight-out costs with terms FOB shipping point O Freight-out costs with terms FOB destination Which of the following is a...
5) A purchase return or allowance under a perpetual inventory system is credited to: A) Accounts...
5) A purchase return or allowance under a perpetual inventory system is credited to: A) Accounts Payable B) Purchase Returns and Allowances C) Inventory D) Purchases 6) Which of the following accounts is not a contra account? A. Inventory B. Accumulated Amortization C. Sales Returns and Allowances D. Sales Discounts 7) To calculate the gross margin percentage, A. Divide net sales by net income B. Divide current assets by current liabilities C. Divide total liabilities by total assets D. Divide...
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....
Freight Terms Determine the amount to be paid in full settlement of each of two invoices...
Freight Terms Determine the amount to be paid in full settlement of each of two invoices (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. Merchandise Freight Paid by Seller Freight Terms Returns and Allowances a. $7,100 $700 FOB shipping point, 1/10, n/30 $1,500 b. 4,300 100 FOB destination, 2/10, n/30 1,050 a. $ b....
Freight Terms Determine the amount to be paid in full settlement of each of two invoices...
Freight Terms Determine the amount to be paid in full settlement of each of two invoices (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. Merchandise Freight Paid by Seller Freight Terms Returns and Allowances a. $9,500 $300 FOB shipping point, 2/10, n/30 $1,600 b. 3,400 400 FOB destination, 1/10, n/30 1,000 a. $ b....
Freight Terms Determine the amount to be paid in full settlement of each of two invoices...
Freight Terms Determine the amount to be paid in full settlement of each of two invoices (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. Merchandise Freight Paid by Seller Freight Terms Returns and Allowances a. $8,000 $700 FOB destination, 1/10, n/30 $1,700 b. 2,950 500 FOB shipping point, 2/10, n/30 1,100 a. $ b....
Freight Terms Determine the amount to be paid in full settlement of each of two invoices...
Freight Terms Determine the amount to be paid in full settlement of each of two invoices (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. Merchandise Freight Paid by Seller Freight Terms Returns and Allowances a. $7,900 $200 FOB shipping point, 2/10, n/30 $1,200 b. 4,000 700 FOB destination, 1/10, n/30 900 a. $ b....
Freight Terms Determine the amount to be paid in full settlement of each of two invoices,...
Freight Terms Determine the amount to be paid in full settlement of each of two invoices, (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. Merchandise Freight Paid by Seller Freight Terms Returns and Allowances a. $9,550 $600 $1,800 FOB destination, 2/10, n/30 FOB shipping point, 1/10, n/30 - b. 3,200 700 900
Freight Terms Determine the amount to be paid in full settlement of each of two invoices,...
Freight Terms Determine the amount to be paid in full settlement of each of two invoices, (a) and (b), assuming that credit for returns and allowano and that all invoices were paid within the discount period. If required, round the answers to the nearest dollar. Merchandise Freight Paid by Seller Freight Terms Returns and Allowances $9,550 $600 $1,800 FOB destination, 2/10, n/30 FOB shipping point, 1/10, n/30 3,200 700 900 a. $ 8,195 x b. $2,277 X Feedback Check My...
1. Operating expenses include cost of goods sold. A) True B) False 2. For a merchandising company, the difference between net sales and operating expensesi. called gross margin. A) True B) False 3. Sales Returns and Allowances is described as a contra-revenue account. A) True B) False 4. Freight Out Expense is included in the cost of goods sold calculation. A) True B) False 5. General and administrative expenses are a category of operating expense. A) True B). False 6....
Which of the following items will require an adjusting journal entry on a company's books? O Outstanding checks O Deposits in transit O NSF check O Error made by the bank Which of the following costs should be added to the buyer's Inventory account? O Freight-in costs with terms FOB destination O Freight-in costs with terms FOB shipping point O Freight-out costs with terms FOB shipping point O Freight-out costs with terms FOB destination Which of the following is a...
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....
Freight Terms Determine the amount to be paid in full settlement of each of two invoices, (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. Merchandise Freight Paid by Seller Freight Terms Returns and Allowances a. $9,550 $600 $1,800 FOB destination, 2/10, n/30 FOB shipping point, 1/10, n/30 - b. 3,200 700 900
Freight Terms Determine the amount to be paid in full settlement of each of two invoices, (a) and (b), assuming that credit for returns and allowano and that all invoices were paid within the discount period. If required, round the answers to the nearest dollar. Merchandise Freight Paid by Seller Freight Terms Returns and Allowances $9,550 $600 $1,800 FOB destination, 2/10, n/30 FOB shipping point, 1/10, n/30 3,200 700 900 a. $ 8,195 x b. $2,277 X Feedback Check My...
Most questions answered within 3 hours.
-
From the following heats of combustion,
CH3OH(l) + 3/2O2(g) → CO2(g) +
2H2O(l)
ΔHorxn = –726.4...
asked 2 minutes ago -
Provide a summary/reflection of what you gleaned of how law
enforcement is effect by Unconventional Weapons...
asked 9 minutes ago -
Floating Point Representation
Consider a computer that stores information using 10 bits words.
The first bit...
asked 31 minutes ago -
. The theoretical weight percent of carbon in (CH3)3N is:
A. 20.32% B. 81.95% C. 9.97%...
asked 24 minutes ago -
The rate of a certain reaction is given by the following rate
law:
rate = k[H2][I2]...
asked 19 minutes ago -
A 10,000 uF capacitor is in series with a 1 uH inductor. What is
Zeq of...
asked 23 minutes ago -
Draw the molecular orbital diagram for O2-
(oxygen molecule with a negative charge).
asked 40 minutes ago -
Of all the different weapons discussed in this chapter that make
up CBRNE,
Which group do...
asked 37 minutes ago -
Given the following JavaScript code, what will be displayed on
the web page?
var x =...
asked 48 minutes ago -
The cynics, skeptics, epicureans, & stoics were most
philosophies that dealt with:
a. the physical...
asked 50 minutes ago -
The hydronium ion concentration of an aqueous solution of 0.333
M trimethylamine (a weak base with...
asked 51 minutes ago -
A buffer is prepared by partially titrating 50.00 mL of 0.964 M
benzoic acid using 0,100...
asked 54 minutes ago