Vicente Company made sales using the following list prices and trade discounts. What amount should be...
Vicente Company made sales using the following list prices and
trade discounts. What amount should be recorded for each
sale?
List price of $530 and trade discount of 40 percent.
List price of $630 and trade discount of 30 percent.
List price of $210 and trade discount of 20 percent.
Homework Answers
Sales revenue = List price - Trade discount on list price
A) (530-40%) = 318
B) (630-30%) = 441
C) (210-20%) = 168
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Vicente Company made sales using the following list prices and
trade discounts. What amount should be...
Vicente Company made sales using the following list prices and trade discounts What amount should be...
Vicente Company made sales using the following list prices and trade discounts What amount should be recorded for each sale? 1. List of $520 and trade scount of 30 percent 2 List price of 5620 and trade discount of 20 percent 3 nice of $200 and trade discount of 40 percent
Vicente Wholesalers made sales using the following list prices and trade discounts. What amount will be...
Vicente Wholesalers made sales using the following list prices and trade discounts. What amount will be recorded for each sale in the sales journal? List price of $800 and trade discount of 20 percent List price of $2,080 and trade discount of 40 percent List price of $1,500 and trade discount of 25 percent
Vicente Wholesalers made sales using the following list prices and trade discounts. What amount will be...
Vicente Wholesalers made sales using the following list prices and trade discounts. What amount will be recorded for each sale in the sales journal? 1. List price of $590 and trade discount of 20 percent 2. List price of $740 and trade discount of 40 percent 3. List price of $240 and trade discount of 20 percent 1. Amount of sale 2. Amount of sale 3. Amount of sale
Main Street Distributors, a wholesale firm, made sales using the following list prices and trade discounts....
Main Street Distributors, a wholesale firm, made sales using the following list prices and trade discounts. What amount should be recorded for each sale? 1. List price of $2.700 and trade discounts of 30 percent and 20 percent 2. List price of $3.400 and trade discounts of 30 percent and 20 percent 3. List price of $1750 and trade discounts of 20 percent and 10 percent
G GoogleE Shows Bills jazmin english 101 College rk Main Street Distributors, a wholesale firm, made...
G GoogleE Shows Bills jazmin english 101 College rk Main Street Distributors, a wholesale firm, made sales using the following list prices recorded for each sale? 1. List price of $6,000 and trade discounts of 40 percent and 15 percent. 2. List price of $7,300 and trade discounts of 25 percent and 8 percent. 3. List price of $7,100 and trade discounts of 20 percent and 5 percent Amount to be recorded 1 2. 3. es
Exercise 8.5 Recording purchases made with trade discounts. LO 8-1 Record the following transactions of Allen Inc.: (Rou...
Exercise 8.5 Recording purchases made with trade discounts. LO 8-1 Record the following transactions of Allen Inc.: (Round your answers to 2 decimal places) DATE TRANSACTIONS 2019 March 8 Purchased merchandise on credit from Alenikov Designs, Invoice 1091, list price $3,400, trade discounts of 30% and 20%; terms 3/10, n/30. 17 Paid the amount owed on the purchase of March 8 from Alenikov Designs, less the 3 percent discount, Check 185.
13) May Retailers sold merchandise with a list price of $100,000, subject to a trade discount of 20 percent and cre...
13) May Retailers sold merchandise with a list price of $100,000, subject to a trade discount of 20 percent and credit terms of 2/10, n/30. At what amount should May record the sale of this merchandise if the gross method is used? a. Debit Accounts Receivable for $100,000. b. Debit Accounts Receivable for $98,000. c. Debit Accounts Receivable for $80,000. d. Debit Accounts Receivable for $78,400. 14) On January 1, 2015, AG Inc. made a $15,000 sale on account with...
33 Exercise 8.5 Recording purchases made with trade discounts. LO 8-1 Record the following transactions of...
33 Exercise 8.5 Recording purchases made with trade discounts. LO 8-1 Record the following transactions of Allen Inc.: (Round your answers to 2 decimal places.) ts DATE TRANSACTIONS 2019 Purchased merchandi se on eredit from Alenikov Designs, Invoice 1091, list price $6,000, trade diseounts of 30 and 15; terms 3/10, n/30. Paid the amount owed on the purchase of March 8 from Alenikov Designs, less the 3 percent discount, Check 185. Мarch 8 еВоok 17 Hint View transaction list Print...
When a sale occurs and a company is using the gross method of recording sales discounts,...
When a sale occurs and a company is using the gross method of recording sales discounts, the sales voice (with credit terms granting a discount for early payment) will be recorded at the O a seller's cost of the merchandise. O b. gross amount of the invoice O c. amount of the discount. O d. net amount of the invoice after the discount
Find the complement rate for each discount in the given series of trade discounts. Then find...
Find the complement rate for each discount in the given series of trade discounts. Then find the net price, using the complement method. Do not round intermediate computations. Complement Rates List Price Trade Discount First Second Third Net Price $4,000 60%, 30%, 20% First % Second % Third % Net Price $
Vicente Company made sales using the following list prices and trade discounts What amount should be recorded for each sale? 1. List of $520 and trade scount of 30 percent 2 List price of 5620 and trade discount of 20 percent 3 nice of $200 and trade discount of 40 percent
Vicente Wholesalers made sales using the following list prices and trade discounts. What amount will be recorded for each sale in the sales journal? 1. List price of $590 and trade discount of 20 percent 2. List price of $740 and trade discount of 40 percent 3. List price of $240 and trade discount of 20 percent 1. Amount of sale 2. Amount of sale 3. Amount of sale
Main Street Distributors, a wholesale firm, made sales using the following list prices and trade discounts. What amount should be recorded for each sale? 1. List price of $2.700 and trade discounts of 30 percent and 20 percent 2. List price of $3.400 and trade discounts of 30 percent and 20 percent 3. List price of $1750 and trade discounts of 20 percent and 10 percent
G GoogleE Shows Bills jazmin english 101 College rk Main Street Distributors, a wholesale firm, made sales using the following list prices recorded for each sale? 1. List price of $6,000 and trade discounts of 40 percent and 15 percent. 2. List price of $7,300 and trade discounts of 25 percent and 8 percent. 3. List price of $7,100 and trade discounts of 20 percent and 5 percent Amount to be recorded 1 2. 3. es
13) May Retailers sold merchandise with a list price of $100,000, subject to a trade discount of 20 percent and credit terms of 2/10, n/30. At what amount should May record the sale of this merchandise if the gross method is used? a. Debit Accounts Receivable for $100,000. b. Debit Accounts Receivable for $98,000. c. Debit Accounts Receivable for $80,000. d. Debit Accounts Receivable for $78,400. 14) On January 1, 2015, AG Inc. made a $15,000 sale on account with...
33 Exercise 8.5 Recording purchases made with trade discounts. LO 8-1 Record the following transactions of Allen Inc.: (Round your answers to 2 decimal places.) ts DATE TRANSACTIONS 2019 Purchased merchandi se on eredit from Alenikov Designs, Invoice 1091, list price $6,000, trade diseounts of 30 and 15; terms 3/10, n/30. Paid the amount owed on the purchase of March 8 from Alenikov Designs, less the 3 percent discount, Check 185. Мarch 8 еВоok 17 Hint View transaction list Print...
When a sale occurs and a company is using the gross method of recording sales discounts, the sales voice (with credit terms granting a discount for early payment) will be recorded at the O a seller's cost of the merchandise. O b. gross amount of the invoice O c. amount of the discount. O d. net amount of the invoice after the discount
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