1. Calculate the missing information for the purchase. Item Selling Price Sales Tax Rate Sales Tax (in $) Excise Tax Rate Excise Tax Total Purchase Price (in $) Sofa $350.00 5 $ 0 0 $
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| Item | Selling Price |
Sales Tax Rate |
Sales Tax (in $) |
Excise Tax Rate |
Excise Tax |
Total Purchase Price (in $) |
|---|---|---|---|---|---|---|
| Sofa | $350.00 | 5 | $ | 0 | 0 | $ |
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- (To record cash purchase of premiums) Cash Sales Revenue (To record cash sales) Cash Premium Expense Inventory of Premiums (To record redemption of codes) (To adjust unearned revenue) Save for Later 3840000 000 0 Attempts: 1 of 3 used Submit Answer E10.The entry to record a sale of P1,800 with terms of 2/10, n/30 will include a a. debit to Sales Discounts for P36. b. debit to Sales Revenue for P1,764. c. credit to Accounts Receivable for P1,800 d. credit to Sales Revenue for P1,800Account Titles and Explanation (To record the premium inventory) (To record the sales) (To record the expense associated with the sale) (To record the premium liability) Debit 11 Credit 1000
- Answer fast please...urgent submission...pls.provide correct answer Calculate: 1) Total Gross Purchases on Account. 2) Total Gross Purchases 3) Net Purchases7. Complete the table. Invoice Terms Last Date Last Date Date Net Price Complement Cash Price Date to Take to Pay Paid of Discount Invoice cash-discount rate Аpril 18 April 6 5/15, n/30 $109.829) Complete the table. Terms Last Date Last Date Date Paid Net Price to Pay Invoice Invoice Date Cash Discount Cash Price to Take Discount 3-Sept. 5/15, n/30 23-Sept. $348.64
- 1. Chapter 7 Homew Compute the amount of the trade discount and the net price using the discount method. Trade Discount 15% List Price $845 Discount Amount a. Discount Amount: $126.75; Net Price: $718.25 b. Discount Amount: $128.10: Net Price: $716.90 c. Discount Amount: $215.30; Net Price: $629.70 d. Discount Amount: $126.57; Net Price: $718.43 Net Price12. Solve for the amount of discount and amount due. Invoice amt: $ 314.88 Invoice date: Sept 17 Terms: 4/ 11 EOM Goods rec'd: Sept 20 Date paid: Oct 92.19) Find the average daily balance (new purchases included) Payment End of Day Balance Dates 1/1-1/19 1/20 1/21-1/22 1/23 1/24-1/31 $250.00 Average → Purchase $50.00 X Number of Days $225.00 x $275.00 x $275.00 x $25.00 x $25.00 x Total → 19 1 2 1 8 31 Sum of Balances I If the finance charge is 1.75% of the average daily balance, what is the finance charge is problem 2.19? Finance charge →
- Saved e Quiz: Accounting for Current Liabi... A Required information Knowledge Check 01 The records of Pippins, Incorporated, included the following information: Net sales 475,000 Gross margin Interest expense Income tax expense Net income 000'0 000'0 Compute the times interest earned ratio, rounded to the nearest decimal. O 4.8 O 6.4 O7.4 O 20.0 *********** II F3 F5 F6 F8 F4 #31. Net purchases equal the invoice amount and?a. plus freight-in, plus discountsb. less purchase returns, plus purchase allowancec. plus freight-in, less purchase discountsd. plus discounts, less purchase returns 2. Cost of Goods Sold is classified as which type of account?a. Assetb. Liabilityc. Revenued. ExpenseYE3tcuBfirwShOSzu2prZ7nd44k0L-w/formResponse?pli=1 e following to answer the five questions below: owing accounts are extracted from the worksheet of X Company on ber 31, 2020 Sales Retums and Allowances S 410,000 Sales Discount 140,000 Sales 1,500,000 Salaries Expenses - Sales 52,000 Rent Revenue 22,000 Purchases Retums and Allowances 120,000 Purchases 600,000 Loss from write down of Inventory 17,000 Inventory, January 1, 2020 460,000 Interest Expense A 55,000 Gain from Sale of Building 23,000 Freight-out 14,000 Freight-in 30,000 Depreciation Expense - Sales 22,000 Cost of Goods Sold 600,000 n the data above, the inventory account sho ed a holon
