Fob shipping point question and answer
WebQuestions and Answers from Chegg. can be a difficult subject for many students, but luckily we’re here to help. Our question and answer board features hundreds of experts … WebFOB stands for free onboard. Free on Board is the shipping cost that the buyer or the selling incurs when transferring the goods. Every time there is a sale of goods, there …
Fob shipping point question and answer
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WebQ: Merchandise subject to terms 1/10, n/30, FOB shipping point is sold on account to a customer for… A: Net sales = sales - credit memorandum = 15000 - 5000 = P10000 Q: A wholesaler sold merchandise inventory with in invoice price RO 160,000 to the customer of business… A: Formula: Cash discount: Goods sold on credit base. WebSee Answer Question: Alpha Company bought inventory from Omega Company, FOB shipping point on December 31, the last day of the accounting year, the goods were on a truck owned by Theta, Inc., exactly halfway between Alpha and Omega Which company should include these goods in its December 31 inventory Show transcribed image text …
WebAccounting questions and answers April 3 Purchased merchandise from Ayayai Ltd. for $25,300, terms n/30, FOB shipping point. 6 The appropriate company paid freight costs of $690 on the merchandise purchased on April 3. 7 Purchased supplies on account for $5,090. 8 Returned damaged merchandise to Ayayai received a credit of $3,700. WebFOB shipping point and freight prepaid Question 3 Transcribed Image Text: Problem 4-3 (ACP) Affectionate Company sold merchandise on account for P500,000. The terms are 3/10, n/30. The related freight charge amounted to P10,000. The account was collected within the discount period.
WebAccounting questions and answers Rizio Company purchases a machine for $12,500, terms 2/10, n/60, FOB shipping point. Rizio paid within the discount period and took the $250 discount. Transportation costs of $360 were paid by Rizio. The machine required mounting and power connections costing $895. WebExpert Answer 1st step All steps Final answer Step 1/2 FOB shipping point: FOB stands for Free On Board and refers to a shipping term indicating that the buyer takes ownership of the goods at the point of shipment.
WebQuestion: Merchandise subject to terms 2/10, n/30, FOB shipping point, is sold on account to a customer for $20,700. What is the amount of sales discount allowable? a.$211 b.$148 c.$202 d.$414 Merchandise subject to terms 2/10, n/30, FOB shipping point, is sold on account to a customer for $20,700.
WebAnswer the following ten multiple choice questions: 1) A company purchased merchandise for $4,000, 2/10, n30, FOB shipping point. The cost for freight: a) will be an additional charge to... imperial outpost hoursWebIf required, round the answers to the nearest dollar. a. S b. S EXT OF ANG Merchandise $8,350 3,900 8,783 X 3,861 X Maps Feedback Chark 3 Minule x C Freight Paid by Seller R1001-PC-240- $600 lo 400 Freight Terms FOB shipping point, 2/10, n/30 FOB … litchurch lane alstomWebAccounting questions and answers Rizio Company purchases a machine for $9,600, terms 1/10,n/60, FOB shipping point. Rizio paid within the discount period and took the $96 discount. Transportation costs of $217 were paid by Rizio. The machine required mounting and power connections costing \$664. lit churchWebA car dealer acquires a used car for $17,000, with terms FOB shipping point. Compute total inventory costs assigned to the use additional costs include . $200 for transportation-in. $180 for shipping insurance. • $750 for car import duties. . $170 for advertising. $2,000 for sales staff salaries. $100 for trimming shrubs. lit church candleWebSep 23, 2024 · With the FOB shipping point, the buyer takes the responsibility for lost or damaged goods and freight. Under the FOB destination — it’s the seller’s responsibility. … litchurch derbyshireWebFOB shipping point: FOB stands for Free On Board and refers to a shipping term indicating that the buyer takes ownership of the goods at the point of shipment.FOB … imperial outpostsWebSee Answer Question: Pierce Company sold merchandise to Stanton Company on account FOB shipping point, 1/10, net 30, for $9,200. Pierce prepaid the $216 shipping charge. Which of the following entries does Pierce make to record this sale? a. lit church street