Allison, the owner of a brewery in Toronto, receives a shipment of barley on April 29, 2014 with an invoice dated April 23, 2014 valued at $38,600 and cash discount payment terms 2/10, n/30, R.O.G. What cash discount would she receive if the invoice is settled on the following dates? a. May 4?   Round to the nearest cent b. May 9?   Round to the nearest cent c. May 20?

Starlight, a Kingston based production company, shipped a truck-load of lighting equipment to a client in Halifax. The invoice of $185,000 for the equipment was dated August 2, 2014. The equipment was received by the client on September 10, 2014. If the payment terms were 2.50/10, n/45, R.O.G what cash discount would the client receive if the invoice is settled on the following dates: a. September 10?   Round to the nearest cent b. September 25?   Round to the nearest cent c. October 10?

S. Waweru starts business on 1st July 2020, when he deposits  Shs. 18,000 into his business bank account and Shs. 2,500 in his cash account. During the month of July, he undertakes the following transactions:- 2020 July 3              He purchases shop fittings for sh. 2,500 and pays by cheque. July 4              He buys a motor vehicle from AB & Co. on credit Sh. 3,000. July 6              He buys stock for Sh. 1,500 and pays through bank. July 8              He sells goods for cash Sh.1,000. July 10            Buys goods on credit from XY & Co. for Sh. 1,200 July 12            Sells goods to A. Smith for Sh. 900 on credit July 13            Pays wages Sh. 120 by cash July 14            A. Smith returns goods worth Sh. 200 July 15            Pays to AB & Co. Sh. 3,000 by cheque July 17            Goods returned to XY & Co. amounting to Sh. 350 July 21            Receives from A. Smith a cheque for Sh. 700 July 25            Sells goods for cash Sh. 300. July 30…

Starlight, a Kingston based production company, shipped a truck-load of lighting equipment to a client in Halifax. The invoice of $185,000 for the equipment was dated August 2, 2014. The equipment was received by the client on September 10, 2014. If the payment terms were 3.50/10, n/45, R.O.G., what cash discount would the client receive if the invoice is settled on the following dates: a. September 107 Round to the nearest cent b. September 25? Round to the nearest cent SAVE P 15°C D op %23

S. Waweru starts business on 1st July 2020, when he deposits  Shs. 18,000 into his business bank account and Shs. 2,500 in his cash account. During the month of July, he undertakes the following transactions:- 2020 July 3              He purchases shop fittings for sh. 2,500 and pays by cheque. July 4              He buys a motor vehicle from AB & Co. on credit Sh. 3,000. July 6              He buys stock for Sh. 1,500 and pays through bank. July 8              He sells goods for cash Sh.1,000. July 10            Buys goods on credit from XY & Co. for Sh. 1,200 July 12            Sells goods to A. Smith for Sh. 900 on credit July 13            Pays wages Sh. 120 by cash July 14            A. Smith returns goods worth Sh. 200 July 15            Pays to AB & Co. Sh. 3,000 by cheque July 17            Goods returned to XY & Co. amounting to Sh. 350 July 21            Receives from A. Smith a cheque for Sh. 700 July 25            Sells goods for cash Sh. 300. July 30…

WABWIRE starts business on 1* July 2021, when he pays Shs. 180,000 into business account. During the month of July, he undertakes the following transactions 2021 July.3 He purchases shop fittings for sh. 25,000 and pays cash. July.4 He buys a motor vehicle from AB & Co. on credit Sh. 30,000. Julv.6 He buys stock for Sh. 15,000 and pays cash. July 8 He sells goods for cash Sh.10,000. July 10 Buys goods on credit from XY & Co. for Sh. 12,000 July 12 Sells goods to A. Smith for Sh. 9,000 on credit July 13 Pays wages Sh. 1,200 July 15 Pays to AB & Co. Sh. 30,000 July 21 Receives from A. Smith a cheque for Sh. 9,000 July 25 Sells goods for cash Sh. 3,000. July 30 Pays general expenses Sh. 800 July 31 Draws Sh. 500 out of business for his personal use (a) Journalize the above transactions (b) Use T accounts to enter the above transactions into the ledger (c) Close the accounts and determine the respective balances (d) Extract a trial balance at 31* July, 2021|

Three invoices for the amounts of $36,000, $26,000, and $41,900 were received on August 27, 2014, September 26, 2014, and October 19, 2014, respectively. If the payment terms are 3/7, 2/30, n/60, calculate the amount that must be paid on October 26, 2014 to settle all three invoices. Round to the nearest cent Ivy purchases phones for $280.50 each and is selling them for $310.00 each. a. What is the rate of markup on cost?  % Round to two decimal places b. What is the rate of markup on selling price?  % Round to two decimal places

Soledad receives a bill for P18,000 dated July 7 with terms 6/15, 4/30, n/60. What cash discount will she received if she pays (a) in 15 days; (b) on the 25th day; and (c) on the 40th day? Round to the nearest centavo

Derry Co. is a company in the industry of selling and installing laundry systems, Derry choose financial period ending by December 31. The following were selected from among the transactions completed during 2020.   2019   Oct 10 Sold merchandise to Edin, and received $6,000 cash. The cost of the merchandise sold was $3,800.   Nov 13 Sold $25,000 merchandise to Flora, receive $12,000 in cash this day and the rest would follow Derry’s credit policy of 1/15, n/30. The cost of merchandise sold was $15,300.   Dec 31 During 2019, Derry Co. offered sales of 30,000 laundry devices with one-year warranty-on-part policy. A provision was made by Derry Co., based on the management’s experience, 900 units (3%) will be defective and that warranty repair costs will average $4 per unit. Journalize this provision.   Dec 31 Based on an analysis of the $92,000 of accounts receivable, it was estimated that $9,848 will be uncollectible, given the balance of the account Allowance for doubtful accounts…

Mr Hamed having furniture manufacturing business in Ibri. Always he purchases wood (Raw materials) from Al Buraimi wood suppliers.On 1st May 2021 Mr Hamed purchased wood for OMR3000 on credit and paid OMR 1000 immediately. For the remaining amount Mr Hamed gave written promise to the supplier to pay that amount on 31st December 2021. The written promise given by Mr Hamed to the supplier is known as: O a. Short-term notes receivables O b. Short term notes payables Oc. Receipt Od. Invoice