Fob shipping point 1/10 net 30
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 - … WebFOB Shipping Point, 2/10, net 30: $1,200 (b) $7,650: $200: FOB Destination, 1/10, net 45: $450: Expert Answer. Who are the experts? Experts are tested by Chegg as specialists …
Fob shipping point 1/10 net 30
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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 ... WebStudy with Quizlet and memorize flashcards containing terms like May 3. Purchased merchandise on account from Floyd Co., $4,000, terms FOB shipping point, 2/10, n/30, with prepaid freight of $120 added to the invoice., 5. Purchased merchandise on account from Kramer Co., $8,500, terms FOB destination, 1/10, n/30., 6. Sold merchandise on …
WebIf merchandise is sold on account to a customer for $1,000, terms FOB shipping point, 1/10, n/30, and the seller prepays $50 in freight, the amount of the discount for early payment would be: $10 The income statement in which the total of all expenses is deducted from the total of all revenues is termed: Single-step form 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
WebMay 15, 2024 · The FOB portion of this term is usually considered to be an abbreviation for “Free On Board”, although you might also see F stand for freight. In any case, the meaning for the user is the same. It indicates … WebNov 10, 2024 · Definition and Guide. FOB is a shipping term that stands for “free on board.”. If a shipment is designated FOB (the seller’s location), then as soon as the shipment of goods leaves the seller’s warehouse, the seller records the sale as complete. The buyer owns the product en route to its warehouse and must pay any delivery charges.
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.
WebFOB SHIPPING POINT (ORIGIN) Implies that the buyer assumes title and owns the goods in transit, pays the freight bill and handles any necessary claims for loss or damage. … buy tecumseh carburetorWebThe arrangements between buyer and seller as to when payments for merchandise are to be made are called credit terms net cash cash on ... Finance Test 1. 31 terms ... accounting. Salon Company originally issued 4,000 shares of $10 par value common stock for$120,000 ($30 per share). Salon subsequently purchases 400 shares of treasury stock for ... buy tecmo bowl kickoffWeba.$8,100 $600 FOB shipping point, 1/10, n/30 b.3,050 600 FOB destination, 2/10, n/30 Returns and Allowances $1,700 750 ... Transactions for Buyer and Seller Sievert Co. sold merchandise to Vargas Co. on account, $5,450, terms 2/15, n/30. The cost of merchandise sold is $3,270. Assume all discounts are taken. certificate in government budgetWebAccounting questions and answers. Complete the journal entries below. terms of 1/15, n/30, FOB shipping point, invoice dated July 1. 2 Sold merchandise to Creek Co. for $900 under credit terms of 2/10, n/60, July1 Purchased merchandise from Boden Company for $6,000 under credit FOB shipping point, invoice dated July 2. certificate in graphic design onlinebuy tech to cool down overheating smartphonesWebNet income plus operating expenses is equal to a. cost of goods sold b. cost of merchandise c. sales ... June 5. Paid cash for insurance, $300.00. C2. 9. Bought supplies on account from Bayside Supplies,$700.00. M1. 10. Paid cash on account to Bayside Supplies, $400.00. C3. Journalize the transactions continuing on the next blank line of page 1 ... buy ted baker shirtsWebMay 22, 2024 · Determine the amount to be paid in full settlement of each of the following invoices, assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period: Merchandise Freight Paid by Seller Returns and Allowances a. $32,000 --- FOB destination, n/30 $1,600 buy tectum panels