FDN Company sold goods amounting to P5,000 on account. Freight is on terms FOB shipping point, Prepaid for P600. How much should be credited to Cash?
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- MCQS 1 AS Inc. made a €40,000 sale on account with the following terms: 2/15, n/30. If the company uses the net method to record sales made on credit, how much should be recorded as sales revenue?a. € 38,400b. € 40,800c. €40,000d. €39,200MCQ 2Which of the following is not considered cash for financial reporting purposes?a. Petty cash funds and change fundsb. Dividends receivablec. Coin, currency, and available fundsd. Money orders, certified checks, and personal checksMCQ 3Travel advances should be reported asa. supplies.b. cash because they represent the equivalent of money.c. investments.d. None of these answer choices are correct. no need of explanationA sales invoice include the following information: merchandise price, $12,000: terms 1/10, n/oem;FOB shipping point with prepaid freight of $900, added to tlhe invoice. Assuming that a credit for merchandise returned of $500 is granted prior to payment and that the invoice is paid within the discount period, what is the amount of cash that should be received by the seller? How do you solve this?On January 13, 20xx, Karl Co. sold on account goods with selling price of P300,000 with terms of 2/10, n/30. Freight costs amounted to P5,000. The goods were received by the buyer on January 15, 20XX. Karl Co. collected the receivable on January 23, 20XX. How much net cash did Karl receive from the buyer if the terms are FOB shipping point, freight collect? O a P305,000 O b P294,000 Oc P299,000 Od P289,000
- A sales invoice included the following information: merchandise price, P4,200; transportation, P320; terms 1/10, n/EOM, FOB shipping point. Assuming that a credit for merchandise returned of P600 is granted prior to payment, that the transportation is prepaid by the seller, and the invoice is paid within the discount period, what is the amount of cash received by the seller? O A. P3,878 B. P3,880.80 O C. P3,558 O D. P3,884 20A sales invoice included the following information: merchandise price, $9,000; terms 1/10, n/eom, FOB shipping point with prepaid freight of $800 added to the invoice. Assuming that a credit for merchandise returned of $1,000 is granted prior to payment and the invoice is paid within the discount period, what is the amount of cash that should be received by the seller? a.$9,710 b.$10,700 c.$990 d.$8,720On January 13, 20xx, Karl Co. sold on account goods with selling price of P300,000 with terms of 2/10, n/30. Freight costs amounted to P5,000. The goods were received by the buyer on January 15, 20XX. Karl Co. collected the receivable on January 23, 20XX. How much net cash did Karl receive from the buyer if the terms are FOB destination, freight prepaid?
- Which of the following mathematical equations is used to compute the payables deferral period (DPO)? 000 о Payables deferral period (DPO) = Accounts payable/Daily credit purchases Payables deferral period (DPO) = Cost of goods sold/Accounts payables Payables deferral period (DPO) = Daily credit purchases/Accounts payable Payables deferral period (DPO) = Payables turnover 360 Payables deferral period (DPO) = Payables turnover/360You are given the following information. Revenue Current liabilities Days sales in receivable Inventory turnover ratio Current ratio RM1,200,000 RM 375,000 40 4.8 1.2 The current account consists of cash, inventories and accounts receivable. Calculate the cash amount.Dawn Co. purchased goods with invoice price of ₱3,000 on account on December 27, 20x1. The related shipping costs amounted to ₱50. The seller shipped the goods on December 31, 20x1. Dawn Co. received the goods on January 2, 20x2 and settled the account on January 5, 20x2. 1. How much is the net cash payment to the supplier if the terms of the shipment are FOB destination, freight collect?
- need help with this ASAP, thanks. A sales invoice included the following information: merchandise price, P12,000; transportation, P500; terms 2/10, n/30, FOB shipping point. Assuming that a credit for merchandise returned of P600 is granted prior to payment, that the transportation is prepaid by the seller, and that the invoice is paid within the discount period, what is the amount of cash received by the seller?A sales invoice included the following information: merchandise price, P5,000; freight, P900; terms 1/10, n/eom, FOB shipping point. Assuming that a credit for merchandise returned of P700 is granted prior to payment and that the invoice is paid within the discount period, what is the amount of cash that should be received by the seller 4,257 4,300 5,157 4,950A sales invoice included the following information: merchandise price, P4,100; transportation, P320; terms 1/10, n/EOM, FOB destination. Assuming that a credit for merchandise returned of P605 is granted prior to payment, that the transportation is prepaid by the seller, and the invoice is paid within the discount period, what is the amount of cash received by the seller? O A. 3,780.05 O B. 3,776.85 C. 3,460.05 O D. 3,140.05