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ollegr [7]
3 years ago
11

Determine the amount to be paid in full settlement of each of two invoices (a) and (b), assuming that credit for returns and all

owances was received prior to payment and that all invoices were paid within the discount period. If required, round the answers to the nearest dollar.
Merchandise Freight
Paid by Seller Freight Terms Returns and
Allowances
a. $6,100 $600 FOB shipping point, 2/10, n/30 $1,450
b. 2,900 700 FOB destination, 1/10, n/30 800
a. $
b. $

Business
1 answer:
Veronika [31]3 years ago
7 0

Answer:

a. $ 5157.

b. $2097.

Explanation:

See attached pictures.

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At the beginning of the year, TRK started with $15,000 in beginning inventory. Throughout the period, TRK purchased $40,000 wort
serious [3.7K]

Answer:

$47,100

Explanation:

The cost of goods available for sale is the sum of the opening balance and the net purchases during the period.

The net purchases is the difference between the total purchases and the allowances and discounts and returns.

Hence,

Cost of goods available for sale

= $15,000 + $40,000 - $2,000 - $500 - $5,700 + $300

= $47,100

8 0
3 years ago
A commercial oven with a book value of $67,000 has an estimated remaining 5 year life. A proposal is offered to sell the oven fo
GaryK [48]

Answer:

It should replace the equipment

Explanation:

                                         continue replace Differential

Proceeds from sale             -              8,500            8,500

Cost  

purchase                                -           -110,000        -110,000

cost savings (5 years)                           115,000         115,000

Total cost                                 -               5,000           5,000

 

Net                                                    -     13,500          13,500

3 0
3 years ago
Ron,a new associate at Barkley and Sons,is working to cultivate personal relationships with individuals outside of his departmen
scZoUnD [109]

Answer:

B. Personal communication network

Explanation:

Personal communication network -

It refers to the method of establishing new connection or relation with various people, in order to expand his or her network, is referred to as Personal communication network.

The mode of communication can be with some digital gadget, telephone, or word to word communication.

Hence, from the given scenario of the question,

Ron tries to get to know various people, who may help to succeed in future.

As, connection with various people enables the person to get more and more knowledge and experience, thereby showcasing personal communication network.

6 0
3 years ago
Intel buys a manufacturing machine for $100,000 for use in making computer processors. The company also paid 7% ($7,000) sales t
Vadim26 [7]

Answer:

$110,000

Explanation:

Calculation for What is the machine's original cost basis that the firm records on the balance sheet

Machine's Original cost basis

Machine Cost $100,000

Add Sales Tax $7,000

Add Shipping Cost $3,000

Machine's Original cost basis $110,000

($100,000+$7,000+$3,000)

Therefore the machine's original cost basis that the firm records on the balance sheet will be $110,000

3 0
2 years ago
Grant Appraisal Service provides commercial and industrial appraisals and feasibility studies. On January 1, the assets and liab
Reil [10]

Answer:

attached table

Explanation:

for each transaction the acouting equation stand

As the sum ofthe three assets account is the same as the two liabiltiies account and the two equity account.

The revenues and expenses account were posted directly into retained earnings for the purpose of simplify the table.

<u>The expese account if needed to expand the table would be:</u>

(1) rent expense, (8)utilities expense, (11) interest expense and salaries expense (7) and (9)

5 0
3 years ago
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