Chapter 5, Problem 1.10C

DSWD purchased goods for distribution on account with list price amounting to P100,000. The supplier granted trade discounts of 20% and 10%, with credit terms of 5/10, n/30. Payment was made 15 days after the date of purchase. Compute the cost of purchased goods for distribution

On January 15, 2021, X Company bought merchandise from Y Company amounting to P30,000 (VAT exclusive). Terms 2/10, n/30, FOB shipping point, freight collect. Amount of freight cost is P1,000, The amount of Accounts Receivable to be recorded on the date of purchase will be⚫

Asap 2012 MARCHA retailer received an invoice of RM4,500 dated 6 July 2010 with trade discount offer of 15% and 10% and cash discount terms of 5/10, 3/15, n/30. i) Find the Single trade discount equivalent. ii) Find the amount of payment if the retailer decides to make a payment on 11 July 2010.

KA. On July 1, 2019, Great White North (GWN) Inc. purchased merchandise from a supplier in the U.S. for US$800,000 with terms requiring full payment by October 31, 2019. GWN has a July 31st year end. On October 31, 2019, GWN paid its supplier in full. Selected dates and spot rates are shown below: July 1, 2019 CDN $1.2150 July 31, 2019 CDN $1.2175 October 31, 2019 CDN $1.22   1) Prepare all journal entries on Settlement date. 2) Prepare all journal entries that would be prepared at year end.

On June 1, 2023, AAA Company sold merchandise with an invoice price of 5,000,000 to a customer. The entity allowed trade discounts of 15%, and 10%. Credit terms were 3/10, n/30 and the sale was made FOB destination. AAA Company paid 100,000 of the delivery cost. a. Compute the total amount of purchases to be included on the buyer’s inventory in the determination of cost of goods available for sale if payment was made beyond the discount period.   b. What is the full amount received by AAA company if payment was made on June 11, 2023?

Assume the following information: merchandise is sold on account to customer for P120,000, FOB Shipping Point, 2/10, n/30. The seller paid transportation cost of P6,000. What is the amount of remittance due within the discount period?

MAKE THE NECCESSARY JOURNAL ENTRIES.... BALIM Company is a merchandising company and tradindg OFFICE SUPPLİES .Company’s November 2020 trancations are as follows.   2. Company Decided to import Machinary for 200.000 DOLAR. (USD) Installation and Adjustment Cost is 85.000 TL + %10 VAT. Import Tax is 35.000 TL. 75.000 USD , Advance is paid by issueing a check. USD Rate is 5.50 TL/USD .

26. On December 27, 20x1, XYZ received a sales order for a credit sale of goods with selling price of P45,000, with credit term on 5/10, n/30. The goods were shipped by XYZ on December 31, 20x1 and were received by the buyer on January 2, 20x2. He related shipping costs amounted to P4,500. The buyer XYZ collected the receivable on January 11, 20x2. If the shipping term is FOB destination, freight collect, the amount of cash received from the collection amounts to The correct answer is: 38,250

A credit sale of $2800 is made on July 15, terms 4/10, net/30, on which a return of $200 is granted on July 18. What amount is received as payment in full on July 24?