What is the correct term for the above document and what would need to be included for it to qualify as a full tax invoice?
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1. What is the correct term for the above document and what would need to
be included for it to qualify as a full tax invoice?
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- Purchased $2,150.03 in resale items on account from Starry Night; terms 1/15, n/30. Purchase order 95687 was issued. What journals and account are these posted? I have an idea, but I want to make sure it's right.BUS 038 : Business Computatns4. You buy goods on an invoice dated October 28, with terms of 2/20, n/45. What is the last day of the discount period?BUS 038 : Business Computations9. You purchase goods on an invoice dated July 5 with terms of 4/15, n/45 ROG. If you receive the goods on July 23, calculate (a) the last day of the discount period, and (b) the last day of the credit period. b. Last day of credit period:
- PB3. LO 6.2Costume Warehouse sells costumes and accessories and purchases their merchandise from a manufacturer. Review the following transactions and prepare the journal entry or entries if Costume Warehouse uses the perpetual inventory system the periodic inventory system Jun. 4 Costume Warehouse purchases 88 costumes on credit at a purchase price of $15 per costume. The terms of the purchase are 5/15, n/30, with an invoice date of June 4. Jun. 12 Costume Warehouse returns 20 costumes to the manufacturer for a full refund. Jun. 19 Costume Warehouse pays in full for the remaining costumes, less the return.Feb. 5 Bought merchandise on account from Nancy Corporation, invoice no. A552, $752; terms net 30 days; dated January 3; FOB destination. Feb. 21 Bought merchandise on account from Allen Company, invoice no. 8545, $1,524.41; n/30; dated February 19; FOB shipping point, freight prepaid and added to the invoice, $150 (total $1,674.41). If required, round your answers to the nearest cent. If an amount box does not require an entry, leave it blank. PURCHASES JOURNAL PAGE 65 DATE SUPPLIER'SNAME INVNO. INV.DATE TERMS POST.REF. ACCOUNTSPAYABLECR. FREIGHT INDR. PURCHASESDR. 20-- Feb. 5 Nancy Corp. A552 1/3 n/30 fill in the blank 1 fill in the blank 2 fill in the blank 3 Feb. 21 Allen Company 8545 2/19 n/30 fill in the blank 4 fill in the blank 5 fill in the blank 6 Feb. 28 Totals fill in the blank 7 fill in the blank 8 fill in the blank 9 (212) (514) (511) GENERAL LEDGER ACCOUNT Accounts Payable ACCOUNT NO. 212 BALANCE…BUS 038 : Business Computatns10. You purchase goods on an invoice dated July 27 with terms of 3/10 EOM. Determine (a) the last day of the discount period, and (b) the last day of the credit period.
- BUS 038 : Business Computatns 11. You purchase goods on an invoice dated February 5 of a leap year, with terms of 5/10-90X. Calculate the last day of the discount period. The discount period ends 100 days (10 + 90 = 100) after the date of the invoice. February 5 is day 36.LO4 Enter the following transaction in a purchases journal like the one illustrated in the chapter: Apr. 6 Purchased merchandise from Clever, 1,680. Invoice No. 131, dated April 6, terms n/30.. EX.06.204.ALGO Sampson Co. sold merchandise to Batson Co. on account, $28,500, terms 2/15, net 45. The cost of the merchandise sold is $21,375. Batson Co. paid the invoice within the discount period. Assume both Sampson and Batson use a perpetual inventory system. Journalize these transactions for Sampson Co. If an amount box does not require an entry, leave it blank. a. fill in the blank 9d2beefcd029043_2 fill in the blank 9d2beefcd029043_3 fill in the blank 9d2beefcd029043_5 fill in the blank 9d2beefcd029043_6 b. fill in the blank 9d2beefcd029043_8 fill in the blank 9d2beefcd029043_9 fill in the blank 9d2beefcd029043_11 fill in the blank 9d2beefcd029043_12 c. fill in the blank 9d2beefcd029043_14 fill in the blank 9d2beefcd029043_15 fill in the blank 9d2beefcd029043_17 fill in the blank 9d2beefcd029043_18 Journalize these transactions for Batson Co. If an amount box does not require an entry, leave it blank. a. and b.…
- Africa Traders, a registered VAT vendor, manufactures and sells plastic toys. The VAT rate is 15%. The entity uses the periodic inventory system. AFRICA TRADERS 700 Narrow Drive P O Box 217 PRETORIA VAT registration number PRETORIA 0001 Tel (012) 433–1615 4590223986 Fax (012) 433–1616 Date: 8 July 2021 TAX INVOICE No: 032 To: SA Traders 169 Tshwane Drive Pretoria Payment method Cheque/debit card Cash Credit card Account Code Description Qty Total price PD01 Plastic dolls Vat @ 15% 1 500 75 000,00 75 000,00 11 250,00 Invoice total 86 250,00 Amount tendered 86 250,00 Change 0,00 VAT…2. On April 5, 2020 Company A sell merchandise to Company L for P50,000 under the terms: 2/10, n/30 FOB Shipping point freight prepaid. Company A being the shipper paid the freight amounting to P2,000. On April 12, Company L paid in full the account amounting to P50,960. Company A notify Company L that the amount to be paid is not P50,960 but P51,000. Whose claim do you think is correct A or L? ExplainEB6. LO 7.3Record the following transactions in the purchases journal: Feb. 2 Purchased inventory on account from Pinetop Inc. (vendor account number 3765), Purchase Order (PO) # 12345 in the amount of $3,456. Feb. 8 Purchased inventory on account from Sherwood Company (vendor account number 5461), PO# 12346, in the amount of $2,951. Feb. 12 Purchased inventory on account from Green Valley Inc. (vendor #4653), PO# 12347, in the amount of $4,631.
