1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Nikitich [7]
3 years ago
6

Determine the amount to be paid in full settlement of each of the following invoices, assuming that credit for returns and allow

ances was received prior to payment and that all invoices were paid within the discount period:
Merchandise Freight Paid by Seller Returns and Allowances
a. $32,000 --- FOB destination, n/30 $1,600
b. 12,800 $300 FOB shipping point, 2/10, n/30 2,500
c. 21,000 --- FOB shipping point, 1/10, n/30 4,000
d. 9,000 175 FOB shipping point, 2/10, n/30 1,000
e. 77,400 --- FOB destination, 1/10, n/30 ---
Business
1 answer:
Mice21 [21]3 years ago
4 0

Answer:

a. $30,400

b. $10,394

c. $16,830

d. $8,015

e. $76,626

Explanation:

a. Amount to be paid in full settlement = Merchandise - Returns and Allowance

= ($32,000 - $1,600)

= $30,400

b. Amount to be paid in full settlement = (Merchandise - Returns and Allowance) - (Remaining balance × 2%) + Freight Paid by Seller

= ($12,800 - $2,500) - ($10,300 × 2%) + $300

= $10,300 - $206 + $300

= $10,394

c. Amount to be paid in full settlement = (Merchandise - Returns and Allowance) - (Remaining balance × 1%)

= ($21,000 - $4,000) - (17,000 × 1%)

= $17,000 - $170

= $16,830

d. Amount to be paid in full settlement = (Merchandise - Returns and Allowance) - (Remaining balance × 2%) + Freight Paid by Seller

= ($9,000 - $1,000) - ($8,000 × 2%) + $175

= $8,000 - $160 + $175

= $8,015

e. Amount to be paid in full settlement = Merchandise - (Merchandise × 1%)

= $77,400 - ($77,400 × 1%)

= $77,400 - $774

= $76,626

You might be interested in
The statement of owner's equity: Multiple Choice
QveST [7]

Answer:

E. Reports how equity changes over a period of time.

Explanation:

Statement of owner's equity as the name suggests is the statement which describes the changes in owner's equity, as it is obvious that the change cannot occur at a point of time, it will occur over a period of time.

And therefore, the statement is prepared over a period generally for a fiscal year, or a financial year.

There is no statement prepared to show any change in owner's equity at a point.

Statement reporting cash flows is called cash flow statement.

Therefore, correct option is:

Statement E

5 0
3 years ago
What are four important factors to remember before making a career decision?
olya-2409 [2.1K]

Answer:

To make a career decision you need to focus on four really important things.

1. You should know what interests you and what do you want to keep on pursuing in the future.

2. Evaluate your skills that are you even capable of doing that work that interests you or are you suitable for some other work.

3. Work attitudes, meaning that do you really have the attitude for the work?

4. Training and Education, this means that are you qualified enough for that specific work.

Explanation:hope it helps

7 0
3 years ago
the italian airline alitalia will pay $10 million to United Airlines one year from today. The spot rate is $1.35/E, while the 1-
Vitek1552 [10]

Answer:

alitalia should do the forward hedge to hedge its transaction exposure

Explanation:

Alitalia can construct the money market hedge as follows

1. borrow Euro whose present value is equal to the amount to be paid.

2. convert it to foreign currency at the current spot rate.

3. place it in a deposit

4. make the payment when the deposit reaches maturity

PV of payment = 10000000/1.05

                         = 9523809.525

converting in to Euro at the spot rate we get 6802721.09 Euros

so Alitalia has to borrow the above amount and convert it and invest it at 5%.

now the payable amount from the loan is  6802721.09(1+0.03) = 7006802.72 Euros

Hence Alitalia has effective managed to locl in a forward rate of 1.427$/euros (10000000/7006802.72)$/euros

Therefore, alitalia should do the forward hedge to hedge its transaction exposure

6 0
3 years ago
What information do you believe is needed in order to create a budget?
Sholpan [36]

Answer:

How to create a budget?

How to create a budget

Calculate your net income

List monthly expenses

Label fixed and variable expenses

Determine average monthly costs for each expense

Make adjustments

4 0
2 years ago
On january 1, year 1, canseco plumbing fixtures purchased equipment for $52,000. residual value at the end of an estimated four-
olganol [36]
Am not sure but here is what I think (56)
3 0
3 years ago
Other questions:
  • is the amount of time an activity can be delayed from its early start without delaying the planned project finish date. a. Free
    9·1 answer
  • Selected transactions from the journal of Larkspur, Inc., are presented below. Date Account Titles and Explanation Debit Credit
    15·1 answer
  • After spending a summer "down under," two Oregon friends, Rick and Mick, created a general partnership to import emu from Austra
    13·1 answer
  • Which of the following is a feature of an effective business email?
    7·1 answer
  • Rebecca, a game artist at a game designing company, receives her bonus 10 days before or 10 days after she receives her monthly
    14·1 answer
  • How does the Federal Reserve achieve these goals?
    5·2 answers
  • At Bargain Electronics, it costs $29 per unit ($16 variable and $13 fixed) to make an MP3 player that normally sells for $51. A
    8·1 answer
  • Interwest receives government funding and that funding is tied to the accuracy of the reports put out by its information system.
    13·1 answer
  • The substitution effect of an increase in the price of Raisin Bran refers to Select one: a. the decrease in the demand for Raisi
    15·1 answer
  • In a major metropolitan area, one chain of coffee shops has gained a large market share because customers feel its coffee tastes
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!