Homework Answers
Terms of "net 30 EOM" mean that payment must be made in full within 30 days following the end of the month.
The answer is the date at the end of December month,
A. December 30
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Payment dates Determine when a firm must pay for purchases made and invoices dated on November...
Determine when a firm must pay for purchases made and invoices dated on June 19 under...
Determine when a firm must pay for purchases made and invoices dated on June 19 under the following credit terms: net 30 date of invoice. What is the payment date? (Select the best answer below.) A. August 14 B.July 30 C. July19 D.August 3
Calculate the total amount each customer must pay based on the following invoice terms and payment...
Calculate the total amount each customer must pay
based on the following invoice terms and payment
dates.
Invoice Date. Invoice Amount Credit
terms.
January 1.
$74,500.
2/10,net 30
March. 15.
$8,750.
1/15,net 30
July
1.
$52,000.
12 percent APR
Payment Date
January 10
April 2
December 31
the total amount each customer must pay ceramente Date A d Terme 210, met nero AM 152.000 model to preparan ng sch Calculate toals and Total wed
Sales are made on a cash basis only. Koehl's purchases must be paid for during the...
Sales are made on a cash basis only. Koehl's purchases must be paid for during the following month. Koehl pays herself a salary of $4,600 per month, and the rent is $2,100 per month. In addition, she must make a tax payment of $12,000 in December. The current cash on hand (on December 1) is $850, but Koehl has agreed to maintain an average bank balance of $4,500 - this is her target cash balance. (Disregard the amount in the...
please complete part C only! Thank you in advance! s Question Help Credit terms Purchases made...
please complete part C only!
Thank you in advance!
s Question Help Credit terms Purchases made on credited in by the end of the big period. Many forms extend a discount for payment made in the first part of the ring period. The original invoice contains type of shorthand nation that the creditors that apply. (Note Assume a 365-day year) a Write the short and expression of credit barns for each of the following b. For each of the set...
The Bike and Hike Outlet is a retail store. Transactions involving purchases and cash payments for...
The Bike and Hike Outlet is a retail store. Transactions involving purchases and cash payments for the firm during June 2019 are listed below, as are the general ledger accounts used to record these transactions. GENERAL LEDGER ACCOUNTS 101 Cash $ 21,900 Dr. 131 Equipment 66,000 Dr. 201 Notes Payable 205 Accounts Payable 4,980 Cr. 501 Purchases 503 Purchases Ret. and Allow. 504 Purchases Discounts 611 Rent Expense 614 Salaries Expense 617 Telephone Expense DATE TRANSACTIONS June 1 Issued Check...
15A. The price of a home is $125,000. The bank requires a 20% down payment at...
15A. The price of a home is $125,000. The bank requires a 20% down payment at the time of closing. The remainder will be financed with a fixed-rate mortgage at 5 % % for 30 years. Find the total interest paid over the life of the loan. The price of a home is $290,000. The bank requires a 20 % down payment and one point 15B. at the time of closing. The cost of the home is financed with a...
follow The firm makes 14% of all sales for cash and collects on 43% of its...
follow The firm makes 14% of all sales for cash and collects on 43% of its sales in each of the 2 months following the sale. Other cash inflows are expected to be $13,000 in September and April $17,000 in January and 000 in September and Apri, $17,000 in January and March, and $26,000 n February. The f pays cash for 9% of its purchases. It pays for 53% o s purchases in e o ing month and for 38%...
in part A just need the correct answers in red boxes were I made mistakes. Thanks!...
in part A just need the correct answers in red boxes were I
made mistakes. Thanks!
Wildhorse Corporation issued $3.54 million of 7- year, 6% bonds dated January 1, 2021, for $3,166,065. The market interest rate when the bonds were issued was 8%. Interest is payable semi-annually on January 1 and July 1. Wildhorse has a December 31 year end. Your answer is partially correct. Prepare an amortization schedule for the first three interest payments. (Round answers to 0 decimal...
The Rowing Company made purchases of a particular product in the current year as follows: Jan....
The Rowing Company made purchases of a particular product in the current year as follows: Jan. 1 Beginning Inventory 120 units $24.00 $ 2,880 Jun. 15 Purchased 100 units $26.00 $ 2,600 Nov. 20 Purchased 325 units @ $30.00 $ 9,750 II 11 II The Rowing Company made sales on the following dates at a selling price of $68 per unit: Feb. 15 30 units June 22 86 units Dec. 14 120 units Total 236 units Instructions: The business uses...
Consider the following situations for Shocker: 1. On November 28, 2021, Shocker receives a $2,100 payment...
Consider the following situations for Shocker: 1. On November 28, 2021, Shocker receives a $2,100 payment from a customer for services to be rendered evenly over the next three months. Deferred Revenue is credited. 2. On December 1, 2021, the company pays a local radio station $2,220 for 30 radio ads that were to be aired, 10 per month throughout December, January, and February. Prepaid Advertising is debited. 3. Employee salaries for the month of December totaling $6.400 will be...
Calculate the total amount each customer must pay
based on the following invoice terms and payment
dates.
Invoice Date. Invoice Amount Credit
terms.
January 1.
$74,500.
2/10,net 30
March. 15.
$8,750.
1/15,net 30
July
1.
$52,000.
12 percent APR
Payment Date
January 10
April 2
December 31
the total amount each customer must pay ceramente Date A d Terme 210, met nero AM 152.000 model to preparan ng sch Calculate toals and Total wed
please complete part C only!
Thank you in advance!
s Question Help Credit terms Purchases made on credited in by the end of the big period. Many forms extend a discount for payment made in the first part of the ring period. The original invoice contains type of shorthand nation that the creditors that apply. (Note Assume a 365-day year) a Write the short and expression of credit barns for each of the following b. For each of the set...
15A. The price of a home is $125,000. The bank requires a 20% down payment at the time of closing. The remainder will be financed with a fixed-rate mortgage at 5 % % for 30 years. Find the total interest paid over the life of the loan. The price of a home is $290,000. The bank requires a 20 % down payment and one point 15B. at the time of closing. The cost of the home is financed with a...
follow The firm makes 14% of all sales for cash and collects on 43% of its sales in each of the 2 months following the sale. Other cash inflows are expected to be $13,000 in September and April $17,000 in January and 000 in September and Apri, $17,000 in January and March, and $26,000 n February. The f pays cash for 9% of its purchases. It pays for 53% o s purchases in e o ing month and for 38%...
in part A just need the correct answers in red boxes were I
made mistakes. Thanks!
Wildhorse Corporation issued $3.54 million of 7- year, 6% bonds dated January 1, 2021, for $3,166,065. The market interest rate when the bonds were issued was 8%. Interest is payable semi-annually on January 1 and July 1. Wildhorse has a December 31 year end. Your answer is partially correct. Prepare an amortization schedule for the first three interest payments. (Round answers to 0 decimal...
The Rowing Company made purchases of a particular product in the current year as follows: Jan. 1 Beginning Inventory 120 units $24.00 $ 2,880 Jun. 15 Purchased 100 units $26.00 $ 2,600 Nov. 20 Purchased 325 units @ $30.00 $ 9,750 II 11 II The Rowing Company made sales on the following dates at a selling price of $68 per unit: Feb. 15 30 units June 22 86 units Dec. 14 120 units Total 236 units Instructions: The business uses...
Consider the following situations for Shocker: 1. On November 28, 2021, Shocker receives a $2,100 payment from a customer for services to be rendered evenly over the next three months. Deferred Revenue is credited. 2. On December 1, 2021, the company pays a local radio station $2,220 for 30 radio ads that were to be aired, 10 per month throughout December, January, and February. Prepaid Advertising is debited. 3. Employee salaries for the month of December totaling $6.400 will be...
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