Solution-What is the actual amount needs to pay

What is the actual amount needs to pay

Assignment Help Financial Accounting

Reference no: EM132795594

DEF Co. had the following data for the period ended:

Cash sales P400,000

Credit sales 280,000

Sales discounts 25,000

Sales return 20,000

Freight-in 15,000

Freight-out 16,000

Problem 1: DEF Co. would report net sale revenue on its statement of comprehensive income amounting to;

a. P635,000 c. P620,000

b. P653,000 d. P680,000

Problem 2: XYZ Company sold10 units f goods with a unit list price of P 2,000 on January 1, 2020. Given that the trade discount is 5% and the cash discount is 10% and that the cash discount period is 10 days and the credit period is 30 days, if the customer settles the debt on January 28, 2020, what is the actual amount he needs to pay?

a. P17,100 c. P19,000

b. P18,050 d. P20,000

Reference no: EM132795594

Questions Cloud

How much is to be paid if a customer pays : How much is to be paid if a customer pays before due at a list price of P16,000? Trade discount of 10% at list price and another cash discount

Difference between average product and marginal product : -Explain the difference between Average Fixed Cost, Average variable Cost, Average Total Cost, Total cost and Marginal , add an example to illustrate your ideas

What were the beginning and ending balances : The Income Statement section of the Johnson Company worksheet for the year ended December 31, 2019, has $180,000. What were the beginning and ending balances

Formulate the agent utility maximization problem : An agent has utility function u(c; l) = c l, where c is greater or equal to 0 is a consumption good, and l is greater or equal to 0 is leisure.

What is the actual amount needs to pay : Discount period is 10 days and the credit period is 30 days, if the customer settles the debt on January 28, 2020, what is the actual amount he needs to pay?

Discover how culture can shape civilizations : One important process in human history was the transition from "hunter-gatherer" societies to settled "complex" civilizations. For this Milestone.

Definition of non-satiation and strict monotonicity : What is the definition of non-satiation and strict monotonicity? Give an example of preference that satisfies non-satiation but does not satisfy strict monotoni

Calculate accumulated depreciation over four years : Calculate accumulated depreciation over 4 years. The five-year expense percentages for years 1, 2, 3, and 4 are 20.00%, 32.00%, 19.20%, and 11.52% respectively.

How much is the net investment income of thief : During 2021, Ashley reported net income of 500,000 and it also did not pay cash dividends during that year. How much is the net investment income of THIEF

User Account

All Pages

What is the actual amount needs to pay

Reference no: EM132795594

Reference no: EM132795594

Questions Cloud

Reviews

Write a Review

Financial Accounting Questions & Answers

Financial statement analysis and preparation

Shareholder of a company

Financial and accounting principles

Prepare a statement of cash flow using the direct method

Financial accounting assignment

Prepare general journal entries for goela

Principles of financial accounting

Prepare general journal entries to record the transactions

Global reporting initiative

Explain the iasb conceptual frameworks

Determine the company''s financial statements

Computation of free cash flow

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT