Homework Answers
Implicit interest is = Value of Inventory purchased * 1%
Implicit interest is = (15600*1%)
Implicit interest is = $ 156
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McCallister's just purcahsed $15,500 worth of inventory . The terms of the sale were 1/10, net 30. What is the implic...
McCallister's just purchased $16,800 worth of inventory. The terms of the sale were 1/10, net 30....
McCallister's just purchased $16,800 worth of inventory. The terms of the sale were 1/10, net 30. What is the implicit interest? Multiple Choice $189 $157 $151 $168
McCallister's just purchased $16,600 worth of inventory. The terms of the sale were 2/10, net 40....
McCallister's just purchased $16,600 worth of inventory. The terms of the sale were 2/10, net 40. What is the implicit interest?
A company purchases inventory on account for $45,000 with terms 2/10, n/30. Under the net method...
A company purchases inventory on account for $45,000 with terms 2/10, n/30. Under the net method of accounting for purchases, the purchase would be recorded at: Multiple Choice Ο $36,000. Ο $40,500. Ο $45,000. Ο $44,100.
A company purchased $2.600 of merchandise on My 5 with terms on returned $285 worth of...
A company purchased $2.600 of merchandise on My 5 with terms on returned $285 worth of merchandise on podrem ote the amount of the cash padon My ques M e Choice ο ο ο ο ο A company purchased $2.000 of merchandise on July 5 with terms 20./30. Only it returned $300 worth of merchandise. On Ju 12. paid the full amount due Assuming the companyies a perpetual inventory system and records purchases using the gross method, the correct journal...
If Bounder Dog Supplies, Inc. purchased inventory at $1,850 list price and the terms were 4/10,...
If Bounder Dog Supplies, Inc. purchased inventory at $1,850 list price and the terms were 4/10, n/30, what would be the value associated with the inventory if payment was made within 10 days? Multiple Choice $1,850. $1,924. $1,801. $1,776.
2. If Bounder Dog Supplies, Incorporated purchased inventory at $1,600 list price and the terms were...
2. If Bounder Dog Supplies, Incorporated purchased inventory at $1,600 list price and the terms were 2/10 n/30, what would be the value associated with the inventory if payment was made within 10 days? Multiple Choice $1,600. $1,632. $1,579. $1,568.
Only answer. A company had inventory on November 1 of 5 units at a cost of...
Only answer.
A company had inventory on November 1 of 5 units at a cost of $30 each. On November 2, they purchased 20 units at $32 each. On November 6 they purchased 16 units at $35 each. On November 8, 18 units were sold for $65 each. Using the perpetual LIFO inventory method, what was the value of the inventory on November 8 after the sale? Multiple Choice Ο Ο $784 Ο Ο $756 Ο A company purchased a...
The following units of an item were available for sale during the year Jan 1. Inventory...
The following units of an item were available for sale during the year Jan 1. Inventory 30 units @ $130 Mar 10. Purchase 70 units @ $140 Aug. 15. Purchased 10 units @ $145 Dec 10. Purchased 70 units @$150 There are 80 units of the item remaining in the physical inventory on December 31st. The periodic inventory system was used. Determine the inventory cost and cost of merchandise sold using the three main methods
4. On February 5th, Elsinore purchased $4,000 worth of inventory on account on terms of 1/10, n/30 from the Grimace Company Account
4. On February 5th, Elsinore purchased $4,000 worth of inventory on account on terms of 1/10, n/30 from the Grimace Company Account5. on February 8th. Elsinore returned $300 worth of inventory to Grimace in exchange for a reduction in the amount that it owes 6. On February 14th, Elsinore paid Grimace the amount it owed and took advantage of the purchase discount.
A company had inventory on November 1 of 5 units at a cost of $17 each....
A company had inventory on November 1 of 5 units at a cost of $17 each. On November 2, they purchased 12 units at $19 each. On November 6 they purchased 8 units at $22 each. On November 8, 12 units were sold for $52 each. Using the LIFO perpetual inventory method, what was the value of the inventory on November 8 after the sale? Multiple Choice Ο $237 Ο $309 Ο $230 Ο $254 Ο $242
McCallister's just purchased $16,800 worth of inventory. The terms of the sale were 1/10, net 30. What is the implicit interest? Multiple Choice $189 $157 $151 $168
A company purchases inventory on account for $45,000 with terms 2/10, n/30. Under the net method of accounting for purchases, the purchase would be recorded at: Multiple Choice Ο $36,000. Ο $40,500. Ο $45,000. Ο $44,100.
A company purchased $2.600 of merchandise on My 5 with terms on returned $285 worth of merchandise on podrem ote the amount of the cash padon My ques M e Choice ο ο ο ο ο A company purchased $2.000 of merchandise on July 5 with terms 20./30. Only it returned $300 worth of merchandise. On Ju 12. paid the full amount due Assuming the companyies a perpetual inventory system and records purchases using the gross method, the correct journal...
Only answer.
A company had inventory on November 1 of 5 units at a cost of $30 each. On November 2, they purchased 20 units at $32 each. On November 6 they purchased 16 units at $35 each. On November 8, 18 units were sold for $65 each. Using the perpetual LIFO inventory method, what was the value of the inventory on November 8 after the sale? Multiple Choice Ο Ο $784 Ο Ο $756 Ο A company purchased a...
A company had inventory on November 1 of 5 units at a cost of $17 each. On November 2, they purchased 12 units at $19 each. On November 6 they purchased 8 units at $22 each. On November 8, 12 units were sold for $52 each. Using the LIFO perpetual inventory method, what was the value of the inventory on November 8 after the sale? Multiple Choice Ο $237 Ο $309 Ο $230 Ο $254 Ο $242
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