Merchandise subject to terms 2/10 n/30. fob

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August undefined, 2024

WebMerchandise subject to terms 2/10, n/30, FOB shipping point, is sold on account to a customer for $22,000. What is the amount of sales discount allowable? a.$224 b.$440 c.$163 d.$216 Merchandise with a sales price of $4,900 is sold on account with terms 2/10, n/30. The journal entry to record the sale would include a WebWarwick's Co. purchased $75,000 of merchandise from a supplier on account, terms FOB destination, 2/10, n/30. Warwick's returned $9,000 of the merchandise, receiving a …

NACM Financial Accounting Exam Two – Answer Key

Web2 mrt. 2024 · The term 2/10, n/30 means that there is a discount of 2% available id the payment is made within 10 days by the customer and net credit period is of 30 days. … WebRecording entries for merchandise purchases Apr 2 Purchased merchandise from Lyon Company under me following terms $5, 800 price, invoice dated April 2, credit terms of 2/15, n/60, and FOB shipping p; An invoice for $600 for merchandise purchased is showing 2/15, n/30 as the terms of credit. boiled broccoli rabe

Answered: An item retailing for P10,000, subject… bartleby

WebMerchandise subject to terms 2/10 n/30, FOB shipping point, is sold on account to a customer for $25,000. What is the amount of the sales discount allowable? This problem … Web6 apr. 2024 · 131. If title to merchandise purchases passes to the buyer when the goods are shipped from the seller, the terms are A. n/30 B. FOB shipping point C. FOB destination D. consigned. 132. Merchandise with an invoice price of $5,000 is purchased on September 2 subject to terms of 2/10, n/30, FOB destination. glossy leaf paper plant

Chapter 6 Accounting (EXAMPLES OF TRANSACTIONS)

Part 1: Merchandising Accounting for Sales (12 Chegg.com

WebMerchandise subject to terms 2/10 n/30, FOB shipping point, is sold on account to a customer for $40,000. The terms 2/10, n/30 means that customer would receive a 2% … WebBusiness Accounting Merchandise with a sales price of $4,600 is sold on account with terms 2/10, n/30. The journal entry for the sale would include a a.debit to Sales Discounts for $92 b.debit to Cash for $4,600 c.debit to Accounts Receivable for $4,488 d.credit to Sales for $4,508. Merchandise with a sales price of $4,600 is sold on account ... boiled broccoli and cauliflower recipeWebQ: Merchandise subject to terms 1/10, n/30, FOB shipping point is sold on account to a customer for… A: Net sales = sales - credit memorandum = 15000 - 5000 = P10000 Q: a. The amount of recorded sale b. The amount of cash received upon payment A: Trade Discount - Trade Discount is given on the list price of the goods and the same is not … glossy lids without being heavy

"WebThe following transactions occurred in April and May. Both companies use a periodic inventory system. Apr. 5 Wildhorse Company purchased merchandise from Blossom Company for $12, 400, terms 2/10, n/30, FOB shipping point.Blossom had paid $8.200 for the merchandise. 6 The correct company paid freight costs of $350. 8 Wildhorse … " - Merchandise subject to terms 2/10 n/30. fob

Merchandise subject to terms 2/10 n/30. fob

WebMerchandise is purchased for $6,000 on September 2 subject to terms of 2/10, n/30, FOB destination. Freight costs paid by the seller totaled $200. What is the required payment if … WebMerchandise is purchased for $6,000 on September 2 subject to terms of 2/10, n/30, FOBdestination. Freight costs paid by the seller totaled $200. What is the cost of the merchandise if paid on September 12, assuming the discount is taken? a. $6,120 b. $5,940 c. $6,090 d.$5,880 d. $ 5,880

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WebEX-10.6 9 d408843dex106.htm MERCHANDISING AGREEMENT Merchandising Agreement . Exhibit 10.6 . Execution Copy . THE USE OF THE FOLLOWING NOTATION IN THIS EXHIBIT INDICATES THAT A CO Web17 okt. 2015 · Best Regards, Rob O’Byrne Email: [email protected] Phone: +61 417 417 307 About the Author. Rob O’Byrne is the founder and CEO of the Logistics Bureau Group based in Sydney Australia. Logistics Bureau Group founded in 1997, provides Supply Chain Consulting and education services in Australia and SE Asia.

WebMerchandise subject to terms 2/10, n/30, FOB destination, is sold on account to a customer for $35,000. The seller paid $500 for shipping. The seller issued a credit … WebRivera Company purchased merchandise from Dimatulac Suppliers for P3,600 list price, subject to a trade discount of 25%. The goods were purchased on terms of 2/10, n/30, F.O. destination. Rivera paid P100 transportation costs. Rivera returned P400 (list price) of the merchandise to Dimatulac and later paid the amount due within the discount period.

WebPurchased merchandise from Parker Company for $9,300 under credit terms of 1/10, n/30, FOB destination, invoice dated August 1. Sold merchandise to Clark Corp. for $6,100 under credit terms of 2/10, n/60, FOB destination, invoice dated August 5. The merchandise sold to Clark had cost $3,700. Purchased merchandise from Lee Corporation for $5,760 ... WebCVS Caremark Corporation Consolidated Statements of Operations Fiscal Year Ended Dec. 31, 2008 Dec. 29, 2007 Dec. 30, 2006 (In millions, except per share amounts) (52 weeks) (52 weeks) (53 weeks) Net revenues $87,471 $76,329 $43,821 Cost of revenues 69,181 60,221 32,079 Gross profit 18,290 16,107 11,742 Total operating expenses 12,244 …

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WebMerchandise subject to terms 2/10, n/30, FOB shipping point, is sold on account to a customer for $25,000. What is the amount of the cash discount allowable? a. $260 ... Merchandise with an invoice price of $6,000 is purchased on September 2 subject to terms of 2/10, n/30, FOB destination. Freight costs paid by the seller totaled $200. What is glossy leaf plantWebMerchandise Inventory Who is responsible for the freight cost when the terms are FOB destination? Question options: 1) the buyer 2) the seller 3) either the buyer or the seller … boiled buckwheat crosswordWeb10 Purchased merchandise from Torres Company terms 2/10, n/30; FOB shipping point P100,000 including freight cost of P2,500 paid by Torres Company. 11 Received freight … boiled brown rice