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telo118 [61]
2 years ago
9

When goods are shipped FOB destination and the seller pays the freight charges, the buyer a.journalizes a reimbursement to the s

eller b.does not take a discount c.makes no journal entry for the freight d.journalizes a reduction for the cost of the merchandise
Business
1 answer:
Ksju [112]2 years ago
4 0

When goods are shipped FOB destination and the seller pays the freight charges, the buyer c.makes no journal entry for the freight.

<h3>What are the journal entries for FOB destination transactions?</h3>

When merchandise is sold on FOB destination terms, it implies that the seller is legally responsible for the safety of the goods until delivered to the buyer.  In most cases, the buyer does not pay for the freight.

In such a case, the Seller also records the delivery expense or freight as a period expense.

The buyer does not make any journal entry for the cost of delivery or (freight).  Since the seller bears all the delivery risks, the buyer can only pay for the cost of the goods when they reach the buyer's destination.

Thus, when goods are shipped FOB destination and the seller pays the freight charges, the buyer c.makes no journal entry for the freight.

Learn more about FOB destination deliveries at brainly.com/question/24920251

#SPJ1

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An external evaluation with consumers that consists of preliminary testing of a new-product idea rather than the actual finished
Sav [38]

Answer:

B. a concept test.

Explanation:

Concept testing is defined as a research method in which it includes the questions of the customer related to their concepts and ideas for the product or services prior to introducing it into the market

So basically it is an external evaluation lies with the customers that contains the preliminary testing

So the option b is correct

5 0
3 years ago
Rent expense of $3,000 is allocated to Department A and Department B based on square footage. Department A has 5,000 square feet
tensa zangetsu [6.8K]

Answer:

$1,000

Explanation:

Calculation for the Dollar amount of rent expense allocated to department B

Using this formula

Expense allocated to Department B= Rent expense allocated to Department A and B* Department B square feet/Department A and Department B Square foot

Let plug in the formula

Expense allocated to department B =$3,000*2,500/5,000+2,500

Expense allocated to department B= $3,000 * 2,500 / 7,500

Expense allocated to department B =$7,500,000/7,500

Expense allocated to department B= $1,000

Therefore the Dollar amount of rent expense allocated to department B will be $1,000

3 0
3 years ago
A company issued 6-year, 8% bonds with a par value of $750,000. The market rate when the bonds were issued was 7.5%. The company
balandron [24]

Answer:

$28,406.25

Explanation:

Calculation for how much is the amount of interest expense for the first semiannual interest period Using the effective interest method

Interest expense=$757,500 x .075 x ½ year

Interest expense= $28,406.25

Therefore the amount of interest expense for the first semiannual interest period is $28,406.25

7 0
3 years ago
Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales data for DVD players are as follows: November 1 Invento
Alexandra [31]

Answer:

a) UNDER FIFO

November 1 Inventory 120 units at $39

November 10 Sale 90 units

  • COGS = 90 X $39 = $3,510
  • remaining inventory = 30 x $39 = $1,170

November 15 Purchase 140 units at $40

November 20 Sale 110 units

  • COGS = (30 x $39) + (80 x $40) = $1,170 + $3,200 = $4,370
  • remaining inventory = 60 x $40 = $2,400

November 24 Sale 45 units

  • COGS = 45 x $40 = $1,800
  • remaining inventory = 15 x $40 = $600

November 30 Purchase 160 units at $43

  • remaining inventory = $600 + (160 x $43) = $7,480

b. UNDER LIFO

November 1 Inventory 120 units at $39

November 10 Sale 90 units

  • COGS = 90 X $39 = $3,510
  • remaining inventory = 30 x $39 = $1,170

November 15 Purchase 140 units at $40

November 20 Sale 110 units

  • COGS = 110 x $40 = $4,400
  • remaining inventory = (30 x $40) + (30 x $39)  = $2,370

November 24 Sale 45 units

  • COGS = (30 x $40) + (15 x $39) = $1,785
  • remaining inventory = 15 x $39 = $585

November 30 Purchase 160 units at $43

  • remaining inventory = $585 + (160 x $43) = $7,465

Under LIFO, the ending inventory is lower than under FIFO.

6 0
4 years ago
Security markets provide liquidity:________
Keith_Richards [23]

Answer:

C. by allowing corporations to raise funds by selling new issues and by creating a market in which owners may easily turn an investment into cash through its sale

Explanation:

Naturally, a security market is seen to permit you do more with your actual savings within your saving periods. It is seen to aid over the counter trading which is seen to occur directly between the trader and the broker. In certain cases that can be termed marketable securities, it is seen to occur due to the maturities are seen to tend to be less than one year; and at such, the buyer/broker rates at which they can be bought or sold have little effect on prices.

5 0
3 years ago
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