Business, 02.06.2020 19:00 SoccerHalo

Company A sold merchandise with a list price of $4,200 and costing $2,300 on account to Company B.
The sale was subject to the following terms: FOB destination, 2/10, n/30.
Company A prepays the freight costs of $85 (debit Delivery Expense for the freight costs).
Prior to payment for the goods, Company A issues a credit memo for $750 to Company B for merchandise costing $425 that is returned.
Company A received payment from Company B within the discount period.
Company A uses a perpetual inventory system.

Which of the following statements is true about the amount Company A receives from Company B for the sale?

a. None of these answers are correct.
b. The invoice amount is greater than $3,500 and less than $3,600.
c. The invoice amount is greater than $3,400 and less than $3,500.
d. The invoice amount is greater than $3,300 and less than $3,400.
e. The invoice amount is greater than $2,700 and less than $2,800.
f. The invoice amount is greater than $3,100 and less than $3,200.
g. The invoice amount is greater than $2,900 and less than $3,000.
h. The invoice amount is greater than $3,000 and less than $3,100.
i. The invoice amount is greater than $3,200 and less than $3,300.
j. The invoice amount is greater than $2,800 and less than $2,900.

Answers: 3

Show answers

Another question on Business

Business, 22.06.2019 02:30

Acompany factory is considered which type of resource a.land b.physical capital c.labor d.human capital

Answers: 2

Answer

Business, 22.06.2019 10:30

Trecek corporation incurs research and development costs of $625,000 in 2017, 30 percent of which relate to development activities subsequent to ias 38 criteria having been met that indicate an intangible asset has been created. the newly developed product is brought to market in january 2018 and is expected to generate sales revenue for 10 years. assume that a u.s.–based company is issuing securities to foreign investors who require financial statements prepared in accordance with ifrs. thus, adjustments to convert from u.s. gaap to ifrs must be made. ignore income taxes. required: (a) prepare journal entries for research and development costs for the years ending december 31, 2017, and december 31, 2018, under (1) u.s. gaap and (2) ifrs. (c) prepare the entry(ies) that trecek would make on the december 31, 2017, and december 31, 2018, conversion worksheets to convert u.s. gaap balances to ifrs.

Answers: 1

Answer

Business, 22.06.2019 21:00

At present, the united states has an embargo against north korea because a. the two countries have extremely poor political relations. b. north korea will not adopt a capitalist government. c. north korean products are too difficult to use. d. north korea has an embargo on american products. e. products from north korea are in higher demand than american-made products.

Answers: 2

Answer

Business, 22.06.2019 21:10

Skychefs, inc. prepares in-flight meals for a number of major airlines. one of the company's products is grilled salmon in dill sauce with baby new potatoes and spring vegetables. during the most recent week, the company prepared 4000 of these meals using 960 direct labor hours. the company paid these direct labor workers a total of $19,200 for this work, or $20.00 per hour. according to standard cost card for this meal, it should require 0.25 direct labour-hours at a cost of $19.75 per hour.1. what is the standard labor-hours allowed (sh) to prepare 4,000 meals? 2. what is the standard labor cost allowed (sh x sr) to prepare 4,000 meals? 3. what is the labor spending variance? 4. what is the labor rate variance and the labor efficiency variance?

Answers: 3

Answer

You know the right answer?

Company A sold merchandise with a list price of $4,200 and costing $2,300 on account to Company B.

Questions