Homework Answers
Answer is option C
Account payable 1050000
Cash 1050000
Explanation:
3/7 n 20 means 3% trade discount given if payment made in 7 days and credit period is 20 days . In this case no trade discount is allowed because payment is made after 7 days. So entire amount $1050000 is paid.
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a company that uses the perpetual inventory system purchased A company that uses the perpetual inventory system pur...
Acompany that uses the perpetual inventory system purchased inventory for $1.050.000 on account with terms of...
Acompany that uses the perpetual inventory system purchased inventory for $1.050.000 on account with terms of 3/7 20. Which of the following correctly records the payment made 15 days after the date of VOICO? 1,050,000 1,050,000 1,050,000 O A. Cash Accounts Payable OB Accounts Payable Merchandise Inventory Cash OC. Accounts Payable Cash OD. Accounts Payable Merchandise Inventory 31.500 1,018.500 1,050,000 1,050.000 1.050.000 1,050,000
A company using the perpetual inventory system purchased inventory worth $500.000 on account with crede terms...
A company using the perpetual inventory system purchased inventory worth $500.000 on account with crede terms of 3/16, 1/40. Defective inventory of 570.000 was returned 3 days later, and the accounts were appropriately adjusted if the company paid the invoice 30 days later, the journal entry to record the payment would be O A 5430.000 debit to Accounts Payable and 5430,000 credit to Cash O . 5500.000 debit to Accounts Payable and $500,000 credit to Cash OC. 3500,000 debit to...
A company purchased inventory for 372,000 from a vendoron ont Fon shipping point with vendor nine...
A company purchased inventory for 372,000 from a vendoron ont Fon shipping point with vendor nine days after the invoice date. If there was no beginning inventory, the cost of inventory The company paid the whipper 31.500 cash for fight in the company de uma p alinvertorys ) OA $70,020 OB. 573.500 Oc567 OD 75000Cost of A merchandiser uses a perpetual inventory system. The beginning Retained Earings balance of the merchandiser was 3140.000. During the year, S e vere amounted...
A company that uses the perpetual inventory system sold goods to a customer for cash for...
A company that uses the perpetual inventory system sold goods to a customer for cash for $4.500 The cost of the goods sold was $1.000 Which of the wong journal entre correctly records this transaction? 4.600 4600 4.600 4.600 1,000 OA Merchandise Inventory Sales Revenue OB Accounts Receivable Cash Cost of Goods Sold Merchandise Inventory O c. Cash Sales Revenue Cost of Goods Sold Merchandise Inventory OD. Cost of Goods Sold Sales Revenue 1,000 4,600 1,000 4,600 1,000 4,600
Acomparty the perpetual inventory s company and the voice 20 days latere om purchased Inventory worth...
Acomparty the perpetual inventory s company and the voice 20 days latere om purchased Inventory worth $500.000 malty to record the payment would be count with credit forms of I, 14. Defective invertory of 570.000 was returned 3 days later, and the accounts were appropriately adjusted. If the OA 1442.000 debt to counts Payable, $12.900 credit to Merchandie try, and 30.000 cash OB. $500,000 de locuri Paybi 467,100 credit to Cash, and $12,00 Merchandise Inventory O c. $500,000 to Accounts...
0 A company using the perpetual invertory system purchased Inventory worth $97,000 on account with credit...
0 A company using the perpetual invertory system purchased Inventory worth $97,000 on account with credit forms of 1/16, 1/30. Defective inventory was received, but instead of a retum, an allowance of $500 is givesThe allowance is before the Inic is paid. The journal entry to record the payment for the lowance and within the discount period would be O A 190.000 abit to Cash and $0.0 credit to Accounts Payable OB. 56.500 debt to Accounts Payable595,535 credit to Cash...
A company using the perpetual inventory system purchased inventory worth $510,000 on account with credit terms...
A company using the perpetual inventory system purchased inventory worth $510,000 on account with credit terms of 3/15, n/45. Defective inventory of $70,000 was returned 2 days later, and the accounts were appropriately adjusted. If the company paid the invoice 30 days later, the journal entry to record the payment would be ________. A. $510,000 debit to Accounts Payable, $496,800 credit to Cash, and $13,200 credit to Merchandise Inventory B. $440,000 debit to Accounts Payable and $440,000 credit to Cash...
5) A company using the perpetual inventory system purchased inventory worth $500,000 on account with credit...
5) A company using the perpetual inventory system purchased inventory worth $500,000 on account with credit terms ol 3/15, n/45. Defective inventory of $50,000 was returned 3 days later, and the accounts were appropriately adjusted to record the return. If the company paid the invoice 25 days later, the journal entry to record the payment would be A) $450,000 debit to Accounts Payable and $450,000 credit to Cash B) $500,000 debit to Accounts Payable and $500,000 credit to Cash C)...
O Forever Jewelers uses the perpetual inventory system on April 2. Forever sold merchandise with a...
O Forever Jewelers uses the perpetual inventory system on April 2. Forever sold merchandise with a cost of 54.000 for $5.500 to a customer on account with forms of 415, 30 Which of the following umalis correctly records the payment received from the customer on April 2017 5,280 220 5.500 5.280 O A Cash Sales Discounts Forted Accounts Receivable O Cash Accounts Receivable Ос. Cash Accounts Receivable Sales Discounts Ford OD Cash Accounts Receivable 5.500 5.280 220 5.500 5.500
16-20 Weston Jewellers uses the perpetual inventory system. On April 2. Weston sold merchandise with a...
16-20
Weston Jewellers uses the perpetual inventory system. On April 2. Weston sold merchandise with a cost of 407 314,152 for delivery of the merchandise. Calculate the amount of net sales revenue Round any intermediary G ions and your fa 4/15.30 Westonad 150 custom count with the t hers ) O A 514.902 OR $8,487 OC. 514.258 OD. $14,652 ance is $35.000. Which of the following ould be included in the . The Merchandise inventory account balance is $80,000. A...
Acompany that uses the perpetual inventory system purchased inventory for $1.050.000 on account with terms of 3/7 20. Which of the following correctly records the payment made 15 days after the date of VOICO? 1,050,000 1,050,000 1,050,000 O A. Cash Accounts Payable OB Accounts Payable Merchandise Inventory Cash OC. Accounts Payable Cash OD. Accounts Payable Merchandise Inventory 31.500 1,018.500 1,050,000 1,050.000 1.050.000 1,050,000
A company using the perpetual inventory system purchased inventory worth $500.000 on account with crede terms of 3/16, 1/40. Defective inventory of 570.000 was returned 3 days later, and the accounts were appropriately adjusted if the company paid the invoice 30 days later, the journal entry to record the payment would be O A 5430.000 debit to Accounts Payable and 5430,000 credit to Cash O . 5500.000 debit to Accounts Payable and $500,000 credit to Cash OC. 3500,000 debit to...
A company purchased inventory for 372,000 from a vendoron ont Fon shipping point with vendor nine days after the invoice date. If there was no beginning inventory, the cost of inventory The company paid the whipper 31.500 cash for fight in the company de uma p alinvertorys ) OA $70,020 OB. 573.500 Oc567 OD 75000Cost of A merchandiser uses a perpetual inventory system. The beginning Retained Earings balance of the merchandiser was 3140.000. During the year, S e vere amounted...
A company that uses the perpetual inventory system sold goods to a customer for cash for $4.500 The cost of the goods sold was $1.000 Which of the wong journal entre correctly records this transaction? 4.600 4600 4.600 4.600 1,000 OA Merchandise Inventory Sales Revenue OB Accounts Receivable Cash Cost of Goods Sold Merchandise Inventory O c. Cash Sales Revenue Cost of Goods Sold Merchandise Inventory OD. Cost of Goods Sold Sales Revenue 1,000 4,600 1,000 4,600 1,000 4,600
Acomparty the perpetual inventory s company and the voice 20 days latere om purchased Inventory worth $500.000 malty to record the payment would be count with credit forms of I, 14. Defective invertory of 570.000 was returned 3 days later, and the accounts were appropriately adjusted. If the OA 1442.000 debt to counts Payable, $12.900 credit to Merchandie try, and 30.000 cash OB. $500,000 de locuri Paybi 467,100 credit to Cash, and $12,00 Merchandise Inventory O c. $500,000 to Accounts...
0 A company using the perpetual invertory system purchased Inventory worth $97,000 on account with credit forms of 1/16, 1/30. Defective inventory was received, but instead of a retum, an allowance of $500 is givesThe allowance is before the Inic is paid. The journal entry to record the payment for the lowance and within the discount period would be O A 190.000 abit to Cash and $0.0 credit to Accounts Payable OB. 56.500 debt to Accounts Payable595,535 credit to Cash...
5) A company using the perpetual inventory system purchased inventory worth $500,000 on account with credit terms ol 3/15, n/45. Defective inventory of $50,000 was returned 3 days later, and the accounts were appropriately adjusted to record the return. If the company paid the invoice 25 days later, the journal entry to record the payment would be A) $450,000 debit to Accounts Payable and $450,000 credit to Cash B) $500,000 debit to Accounts Payable and $500,000 credit to Cash C)...
O Forever Jewelers uses the perpetual inventory system on April 2. Forever sold merchandise with a cost of 54.000 for $5.500 to a customer on account with forms of 415, 30 Which of the following umalis correctly records the payment received from the customer on April 2017 5,280 220 5.500 5.280 O A Cash Sales Discounts Forted Accounts Receivable O Cash Accounts Receivable Ос. Cash Accounts Receivable Sales Discounts Ford OD Cash Accounts Receivable 5.500 5.280 220 5.500 5.500
16-20
Weston Jewellers uses the perpetual inventory system. On April 2. Weston sold merchandise with a cost of 407 314,152 for delivery of the merchandise. Calculate the amount of net sales revenue Round any intermediary G ions and your fa 4/15.30 Westonad 150 custom count with the t hers ) O A 514.902 OR $8,487 OC. 514.258 OD. $14,652 ance is $35.000. Which of the following ould be included in the . The Merchandise inventory account balance is $80,000. A...
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