Web685. Cost of goods sold = Beginning inventory + Inventory purchased - Ending inventory = $210 + $635 - $160 = $685. A sales invoice included the following information: merchandise price, $5,300; terms 1/10, n/eom; FOB shipping point with prepaid freight of $589 added to the invoice. Assuming that a credit for merchandise returned of $1,100 is ... WebPierce Company sold to Stanton Company merchandise on account FOB shipping point, 1/10, net 30, for $600. Pierce prepaid the $70 shipping charge. Which of the following entries does Pierce make to record this sale? a.Accounts Receivable-Stanton, debit $70; Sales, credit $70
Determine the amount to be paid in full settlement of each invoice ...
WebMerchandise subject to terms 2/10, n/30, FOB shipping point, is sold on account to a customer for $22,500. What is the amount of sales discount allowable? $450 Norfolk Sporting Goods purchases merchandise with a catalog list price of $12,106. The retailer receives a 28% trade discount and credit terms of 2/10, n/30. Webaccounting. Dragon Sports Inc. manufactures and sells two products, baseball bats and baseball gloves. The fixed costs are $620,000, and the sales mix is 40% bats and 60% gloves. The unit selling price and the unit variable cost for each product are as follows: Products. Unit Selling Price. how many allstate agencies are in the us
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WebANSWER (a) MERCHANDISE - RETURNS AND ALLOWANCE $4,500 - $1,200 = $3,300 THEN …. Determine the amount to be paid in full settlement of each invoice, assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period. Returns and Allowances Freight Paid Merchandise by … WebMar 26, 2024 · As it was FOP shipping point the freight are our duty as the transfer of posesion occur when they leave it in port ... 450 = 7,200 x 1% discount = 72. net 7,200 - … Web1. 1. 1. Compute CollegePak's break-even point in sales dollars for the year. 2. 2. 2. Compute the number of sales units required to earn a net income of $ 180, 000 \$ 180,000 $180, 000 during the year. 3. 3. 3. CollegePak's variable manufacturing costs are expected to increase by 10 10 10 percent in the coming year. Compute the firm's break ... how many allstar is lebron