Asap A business buys 10 computers for $600 each. Four of the eight arrive broken. In this case,how much should Accounts Payable be debited for?

Accounts payable (AP) is a well-known ledger account that denotes a commercial enterprise business…

Answered: A business buys 10 computers for $600…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 4MC: A car dealership sells a car to a customer for $35,000. The customer makes a 10% down payment, and...

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If a customer owed your company $100 on the first day of the month, then purchased $200 of goods on credit on the fifth and paid you $50 on fifteenth, the customers ending balance for the month would show a (debit or credit) of how much?
A company orders ten laptops at $600 each. Four are broken upon delivery. For what amount should Accounts Payable be debited in this situation?
A car dealership sells a car to a customer for $35,000. The customer makes a 10% down payment, and the dealership finances the remaining 90% in-house. How much will the car dealership record in Accounts Receivable for this customer? A.$7,000 B.$19,250 C.$8,750 D.$31,500
A business sells $100 worth of goods to a customer, the customer pays $50 in cash immediately andwill pay the remaining $50 in 30 days' time.What is the double entry to record the purchase in the customer’s accounting records?
If a customer owed your company $100 on the first day of the month, then purchased $200 of goods on credit on the fifth and paid you $50 on fifteenth, the customer’s ending balance for the month would show a (debit or credit) of how much?
A customer buys a company product on the internet for $1,000 with bitcoins. At the end of the year he bit coins are worth $5,000. The company's income statements show sales of $1,000. Why?
Ena Sharples opened a retail shop on January 1. She invested $10,000 of her own money. She rented a store for $2,000 per month, paying first and last month’s rent on January 1. She bought store fittings for $5,000 in cash. She bought goods for resale at a cost of $10,000, on credit, payable on February 15. She incurred other expenses of $1,000 in January, all of which were paid for in cash. Her cash sales were $15,000, and she also sold $2,000 on credit, which she expects to collect by the end of February. At the end of January her inventory had a cost of $3,000. Amortization on the store fittings is estimated at $100 for the month. The sales revenue recognized in January was?
Ena Sharples opened a retail shop on January 1. She invested $10,000 of her own money. She rented a store for $2,000 per month, paying first and last month’s rent on January 1. She bought store fittings for $5,000 in cash. She bought goods for resale at a cost of $10,000, on credit, payable on February 15. She incurred other expenses of $1,000 in January, all of which were paid for in cash. Her cash sales were $15,000, and she also sold $2,000 on credit, which she expects to collect by the end of February. At the end of January her inventory had a cost of $3,000. Amortization on the store fittings is estimated at $100 for the month. What is The operating profit as % of sales for January?
Listed below are eight transactions. In each case, identify whether the transaction is an example of financing, investing, or operating activities and which of the financial statements it would affect.1. Company borrows $50,000 in cash, signing a 10-year note payable.2. Twenty units of inventory are purchased from suppliers on account for $12,000.3. The utility bill is paid at the end of the month, $5,200.4. Services are performed, and customers are billed for $13,000.5. Five parcels of real estate are purchased, for a total of $55,000 in cash.6. A long-term investment in an equity security is sold for $4,500 cash.7. Principal payments are made on outstanding debts.8. Cash is received from customers for services completed in a previous period.
business had a balance at the bank of $2,500 at the start of the month. During the following month, it paid for materials invoiced at $1,000 less trade discount of 20% and cash discount of 10%. It received a cheque from a customer in respect of an invoice for $200, subject to cash discount of 5%. What was the balance at the bank at the end of the month?
During the month of March, Harley's Computer Services made purchases on account totaling $46,100. Also, during the month of March, Harley was paid $11,900 by a customer for services to be provided in the future and paid $38,200 of cash on its accounts payable balance. If the balance in the accounts payable account at the beginning of March was $78,600, what is the balance in accounts payable at the end of March? Mutiple Choice 86,500 98,400 7,900 74,600 6,200
Presented below are two independent transactions.a. Fiesta Restaurant accepted a Visa card in payment of a €175 lunch bill. The bank chargesa 4% fee. What entry should Fiesta make?b. St. Pierre Company sold its accounts receivable of €70,000. What entry should St. Pierremake, given a service charge of 3% on the amount of receivables sold?

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A business buys 10 computers for $600 each. Four of the eight arrive broken. In this case, how much should Accounts Payable be debited for?