on may 28, talbot of boston sold forrest of los angeles 7,700 of fine clothes. terms were 5/10 eom fob boston. talbots agreed to prepay the $95 freight. of the forest pays the invoice on june 8 what will forest pay? if forrest pays on july 21 wht will forrest pay?

Q: An invoice of RO 50,000 with the terms 7/18, n/30, ROG is dated on May 10th. The goods are received…

A: Given: 7/18 means if you pay the bill within 18 days you will get a discount for 7% N/30 means if…

Q: On January 1, 20x1, Pete Electrical Shop received from Marion Trading 300 pieces of bread toasters.…

A: Consignment is a commercial agreement in which a company, also known as a consignee, agrees to pay a…

Q: On 1 – 4 – 2018 Ms. Bushra Al Khair LLC buys 100 Apple phone @ 325 each from a local supplier. The…

A: Accounts payable (AP) is a general ledger account that shows a company's obligation to pay a…

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A: Tax base for computing 12%VAT on the sale of real property is the selling price or market value(or…

Q: BB, WW and FF agree to sell construction tools for a period of one month. BB agrees te the lawn of…

A: Given: The data is given as,         BB- 170000          WW-260000         FF-60000

Q: Ned's Sheds purchases building materials from Timbertown Lumber for $3,700 with terms of 4/15, n/30.…

A: Note payable refers to a negotiable instrument. It represents the claim amount due to the acceptor.…

Q: term is 30 days. b. A sale invoice from Papier Paper Company dated December 15, 2024 for P5,465. The…

A: Statement of Financial Position The balance sheet is often known as a statement of financial…

Q: Given: The 456 Company purchased office supplies from A-One Supplies worth P300,000 on Sep 29, 2021.…

A: A cash discount is a reduction in the price paid for a product or service if you pay with cash…

Q: During August 5, 2020, Hiro marketing sold an item worth P 500,000 for P 750,000. The required down…

A: Accounting's goals include keeping a systematic record of all financial transactions in a book of…

Q: A lumber supplier delivered lumber supplies to J.K. Builders for future use. The lumber supplies…

A: The expenses should be recorded when they actually incurred. Journal entries are used to record…

Q: ABC Co sold merchandise to DEF Co for P120,000 and received P120,000 for that sale one month later.…

A: Revenue Recognition: The seller has transferred the property in the products to the buyer for a…

Q: Brisk, Whisk and Frisk agree to sell construction tools for a period of one month. Brisk agrees to…

A: Sales…

Q: Given: The 456 Company purchased office supplies from A-One Supplies worth P80,000 on April 04,…

A: Solution: List price of supplies = P80,000 Trade discount = 5%, 2% Cash discount = 5% if paid with…

Q: On Jan 1,2020, Kim Co. supplies amounted to P2,500. During the year, thecompany purchased P1,200…

A: Office supplies means the any product used in office on regular basis. We can not say that amount of…

Q: Sandusky Co sells computers and provides hardware maintenance services. On May 1st, Sandusky sold a…

A: Revenue allocated to computer =$1000 ×$840$840+$360=$840000$1200=$700 Revenue allocated to…

Q: recognize revenue

A: Revenue Recognition :- revenue is considered to have been realised when a transaction has been…

Q: On April 15, Champion Industries buys $1,340,000 of inventory orf credit. On May 31, Champion…

A: Solution: Date Account title Debit Credit 15-Apr Inventory 1340000          Accounts payable…

Q: Humaid is paid a 7% commission on all sales. He sold goods worth RO 15,000 in a month. What is his…

A: Gross pay is the money that a person received without making any deductions.

Q: Zahava Corporation sells equipment to Ari Company for $700,000. Ari does not need the equipment…

A: 1. Journal Entry In the books of Z

Q: Given: The 456 Company purchased office supplies from A-One Supplies worth P124,000 on July 06,…

A: In the given question, A-one Supplies has offered a trade discount of 15% and 10%: It implies that…

Q: ABC Co sold merchandise to DEF Co for P120,000 and received P120,000 for that sale one month later.…

A: Given, Amount received from sale of merchandise = P 120,000 Payment made to DEF = P 20,000 Fair…

Q: BB, WW and FF agree to sell construction tools for a period of one month. BB agrees the lawn of FF.…

A: Given: The data is given as,         Brisk- 170000          Whisk-260000         Frisk-60000

Q: Indicate the effects (accounts, amounts, and + or −) of each transaction on the accounting equation.

A: Fundamental Accounting Equation; Assets equal the sum of liabilities and shareholder's equity is the…

Q: On March 17, Fox Lumber sells materials to Whitney Construction for $12,000, terms 2/10, n/30.…

A:

Q: what is the balance of the branch account as per home office books

A: Balance in the branch account as per home office books means the balance which the branch owes to…

Q: mith Corp. sells goods to Magnus for $500,000, payment due in 18 months after the goods are…

A: Sales means the amount recorded in books as revenue earned by selling the goods or services. Account…

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A: The perpetual inventory method seems to be an inventory management approach that uses an inventory…

Q: On February 14, 2019, Prime Company sold 50 ain conditioning units. The sale price for each unit is…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Big Buy Appliances sells Mike and Katy a refrigerator for $1,200 in March. Big Buy  paid $500 for…

A: Solution...     Sales value of refrigerator  = $1,200    Purchase price of Refrigerator  = $500…

Q: Starlight, a Kingston based production company, shipped a truck-load of lighting equipment to a…

A: Cash Discount: Invoices that are paid in full before the planned due date are entitled to a monetary…

Q: anary Cawnmowers purchased 300lawnmower parts at $3.50 per part from a supplier on December 4. Terms…

A: In Accounting we follow double entry system.  Each transaction is…

Q: Merville is a dealer in real properties. Merville requires 20% downpayment, and the balance is…

A: Answer: We have  Gross profit = 40% of Selling price Selling price of lot 1 in 2019= P 1,350,000…

Q: D. Odies JuULuai - Paid S50,500 cash for monthly rents for the factory, Check No. 5550. C Cash…

A: d.Borrowed $ 45000 from bank of bahrain and kuwait on a long term note payable is recorded in Cash…

Q: Given: The 456 Company purchased office supplies from A-One Supplies worth P80,000 on April 04,…

A: In the given question, A-one Supplies has offered a trade discount of 5% and 2%: It implies that…

Q: Stratus Inc. purchased equipment for $18,500 and received an invoice with terms 4/10, 3/30, n/45. If…

A: Stratus Incorporation purchased equipment and it had terms 4/10, 3/30, n/45. In this case, the…

Q: Consider the following events for Henkle Decorating, Inc.: March 3 Henkle signs a contract to…

A: Under Accrual basis accounting, Henkle should record revenue for decorating services only when the…

Q: During the month of March 2022, Turaco sole trader purchased goods to the value of N$12 000, of…

A: Difference between the Net sales and Cost of goods sold is called Gross profit. Gross profit = Net…

Q: A buyer receives merchandise on September 7th that is involced for $3,250. The date on the invoice…

A: Inventory: It refers to the items held by an organization which were in various forms like raw…

Q: On June 06, Talbots of Boston sold Forrest of Los Angeles $8,150 of fine clothes. Terms were 4/10…

A: Formula: Discount allowed = Invoice amount x discount percentage Multiplication of invoice amount…

Q: On July 1, 2021, S Furniture, sold to B tables and chairs for a price of P500,000 for the latter's…

A: S will not bear the loss because there is an exception to res perit domino rule

Q: On July 3, 2020, Franky purchased on account specialty feeds worth P800,000 net of VAT. A wholesaler…

A: VAT means the value added tax which is levied on sale and purchase . Vat paid on purchases is booked…

Q: On August 5, John's furniture makes a purchase of $3200 for chairs from a wholesaler. The purchase…

A: This question deals with the concept of discount for early payment for purchase. There is various…

Q: On July 15, Zink Jewels agrees to a contract to sell 4,000 promise rings for $100,000 to Costless…

A: The revenue recognition principle: The revenue recognition principle refers to the revenue that…

Q: During the month of March 2022, Turaco sole trader purchased goods to the value of N$12 000, of…

A: Net profit is the difference between gross profit and expenses. Gross profit is the difference…

Q: the branch incurred a loss of P4,000. What is the balance of the branch account as per home office…

A: Balance of branch account includes branch current account and adjustment of profit or loss. In home…

Q: Al paid $700 for a vehicle at Honest Bob's Cars. Al signed a $500 instalment agreement after paying…

A: After discounts and allowances have been subtracted from the gross selling value, the asset's worth…

Q: When is the last day the buyer can get the cash discount?    If the buyer decides to pay for the…

A: 1. The Buyer can discount till 10 days from billing date. Billing Date = June 4 Last day the buyer…

Q: Fill in the blanks: Problem: On December 31, Mr. Adrian sold equipment amounting to P640,000 with a…

A: Invoice price means amount of goods less trade discount. Buyer have to pay invoice price. Sale term…

Q: On March 1, Bates Board Shop sells 300 surfboards to a local lifeguard station at a sales price of…

A: Credit terms 3/15, n/30 means that customer will get a discount of 3% if payment is being made in 15…

Q: As a buyer for the J&J company, you receive an invoice with terms 3/10, EOM, net 60.  The invoice…

A: 1. 3/10 EOM means buyer can get the cash discount of 3% if he pays the amount within 10 days from…