James Bakery sells to its customers on terms of 2%/10/net 30. William Company purchased $750,000 of...
James Bakery sells to its customers on terms of 2%/10/net 30. William Company purchased $750,000 of cupcakes on 13 January, on account, and paid its bill on 22 January. How much cash did James receive on January 22?
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James Bakery sells to its customers on terms of 2%/10/net 30.
William Company purchased $750,000 of...
James Bakery sells cupcakes to William's Restaurant. The credit terms are 1%/5/net 15. The selling price...
James Bakery sells cupcakes to William's Restaurant. The credit terms are 1%/5/net 15. The selling price is $1.50 per cupcake. The cost per cupcake is $1.00. James' uses a perpetual inventory system. James' most recent sale is for 500 cupcakes. What amounts are entered into each account to record the transaction in which the account is paid within the discount period. (enter each answer using a number with two decimal places and no dollar signs; e.g., 2.50) Revenue [A] Cost...
Railco sells to its customers on account with terms of 2% / 5 /net 15. Ronco...
Railco sells to its customers on account with terms of 2% / 5 /net 15. Ronco purchases $20,000 of goods on account on 1 December and pays its bill on 5 December. How much will Ronco pay for this purchase?
The company purchased merchandise on account for $47,500 on October 12. Terms of the purchase were 1/10, n/30. James u...
The company purchased merchandise on account for $47,500 on
October 12. Terms of the purchase were 1/10, n/30. James uses the
net method to record purchases.
The merchandise was shipped f.o.b. shipping point and freight
charges of $670 were paid in cash.
On October 31, James paid for the merchandise purchased on
October 12.
Record the sale of merchandise on account.
Record the cost of goods sold.
Record any necessary adjusting entry when the inventory on hand
at the end...
The company purchased merchandise on account for $47,500 on October 12. Terms of the purchase were 1/10, n/30. James u...
The company purchased merchandise on account for $47,500 on
October 12. Terms of the purchase were 1/10, n/30. James uses the
net method to record purchases.
The merchandise was shipped f.o.b. shipping point and freight
charges of $670 were paid in cash.
On October 31, James paid for the merchandise purchased on
October 12.
Record the sale of merchandise on account.
Record the cost of goods sold.
Record any necessary adjusting entry when the inventory on hand
at the end...
Lay Perfect Pillow Company sells specialty pillows and accessories to customers. Its fiscal year ends on...
Lay Perfect Pillow Company sells specialty pillows and accessories to customers. Its fiscal year ends on December 31. The following transactions occurred in the current year: Purchased $250,000 of new pillow inventory; paid $90,000 in cash and owed the rest on account. Paid employees $180,300 in wages for work during the year; an additional $3,700 for the current year's wages will be paid in January of the next year. Sold pillows to customers for $750,000; received $500,000 in cash and...
Help Sa Lay Perfect Pillow Company sells specialty pillows and accessories to customers. Its fiscal year...
Help Sa Lay Perfect Pillow Company sells specialty pillows and accessories to customers. Its fiscal year ends on December 31. The following transactions occurred in the current year: a. Purchased $250,000 of new pillow inventory, paid $90,000 in cash and owed the rest on account b. Pald employees $180,300 in wages for work during the year, an additional $3,700 for the current year's wages will be paid in January of the next year. c. Sold pillows to customers for $750,000;...
Charlet Company sells office chairs to its customers. On June 10, Charlet purchased 40 office chairs...
Charlet Company sells office chairs to its customers. On June 10, Charlet purchased 40 office chairs from one of its suppliers, paying $120 per chair. On July 5, Rutherford Corporation purchased 18 of these office chairs from Charlet for a list price of $200 each. Rutherford returned 3 of the chairs on July 7, paid one-half of its bill on July 16 and paid the other one-half of July 29. Charlet offers credit terms of 5/15, n/40 to its customers....
Bumpting Inc. offers credit terms of 2/10, net 30 If a customer bought $100,000 worth of...
Bumpting Inc. offers credit terms of 2/10, net 30 If a customer bought $100,000 worth of goods and paid the firm within 6 days, how much cash would Bumpting receive? *95000 *100000 *98000 If the customer paid off the account after 20 days, how much cash would the Bumptings get? *95000 *100000 *98000 If 20% of Bumptings customers pay within 10 days and the rest take an average of 35 days to pay off their accounts what will be the...
Payson Sports, Inc., sells sports equipment to customers. Its fiscal year ends on December 31. The...
Payson Sports, Inc., sells sports equipment to customers. Its fiscal year ends on December 31. The following transactions occurred in the current year a. Purchased $250,000 of new sports equipment inventory, paid $90,000 in cash and owed the rest on account b. Paid employees $180,300 in wages for work during the year, an additional $3.700 for the current year's wage will be paid in January of the next year. c. Sold sports equipment to customers for $750,000; received $500,000 in...
1) A) Joy company bought $8000 of merchandise on account, terms 2/10 net 30 B) Joy...
1) A) Joy company bought $8000 of merchandise on account, terms 2/10 net 30 B) Joy retumed $2000 of the merchandise C) Joy had a cash sale of $10,000; the cost of the merchandise was $4500 D) Joy sold $12,000 on account terms 1/10 net 30; cost of the merchandise was $5500 E) Paid for the purchase in A, less the return. F) Received payment from the sale in D. 2) A) BC company bought $18000 of merchandise on account,...
The company purchased merchandise on account for $47,500 on
October 12. Terms of the purchase were 1/10, n/30. James uses the
net method to record purchases.
The merchandise was shipped f.o.b. shipping point and freight
charges of $670 were paid in cash.
On October 31, James paid for the merchandise purchased on
October 12.
Record the sale of merchandise on account.
Record the cost of goods sold.
Record any necessary adjusting entry when the inventory on hand
at the end...
The company purchased merchandise on account for $47,500 on
October 12. Terms of the purchase were 1/10, n/30. James uses the
net method to record purchases.
The merchandise was shipped f.o.b. shipping point and freight
charges of $670 were paid in cash.
On October 31, James paid for the merchandise purchased on
October 12.
Record the sale of merchandise on account.
Record the cost of goods sold.
Record any necessary adjusting entry when the inventory on hand
at the end...
Help Sa Lay Perfect Pillow Company sells specialty pillows and accessories to customers. Its fiscal year ends on December 31. The following transactions occurred in the current year: a. Purchased $250,000 of new pillow inventory, paid $90,000 in cash and owed the rest on account b. Pald employees $180,300 in wages for work during the year, an additional $3,700 for the current year's wages will be paid in January of the next year. c. Sold pillows to customers for $750,000;...
Charlet Company sells office chairs to its customers. On June 10, Charlet purchased 40 office chairs from one of its suppliers, paying $120 per chair. On July 5, Rutherford Corporation purchased 18 of these office chairs from Charlet for a list price of $200 each. Rutherford returned 3 of the chairs on July 7, paid one-half of its bill on July 16 and paid the other one-half of July 29. Charlet offers credit terms of 5/15, n/40 to its customers....
Payson Sports, Inc., sells sports equipment to customers. Its fiscal year ends on December 31. The following transactions occurred in the current year a. Purchased $250,000 of new sports equipment inventory, paid $90,000 in cash and owed the rest on account b. Paid employees $180,300 in wages for work during the year, an additional $3.700 for the current year's wage will be paid in January of the next year. c. Sold sports equipment to customers for $750,000; received $500,000 in...
1) A) Joy company bought $8000 of merchandise on account, terms 2/10 net 30 B) Joy retumed $2000 of the merchandise C) Joy had a cash sale of $10,000; the cost of the merchandise was $4500 D) Joy sold $12,000 on account terms 1/10 net 30; cost of the merchandise was $5500 E) Paid for the purchase in A, less the return. F) Received payment from the sale in D. 2) A) BC company bought $18000 of merchandise on account,...
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