User Account

All Pages

What is the amount of cash required for the payment

Assignment Help Accounting Basics
Reference no: EM132486950

Question 1 - Halibut Company purchased merchandise on account from a supplier for $18,600, terms 2/10, n/30. Halibut Company returned $5,000 of the merchandise and received full credit.

a. If Halibut Company pays the invoice within the discount period, what is the amount of cash required for the payment?

b. What account is credited by Halibut Company to record the return?

Question 2 - Hoffman Company purchased merchandise on account from a supplier for $65,000, terms 1/10, n/30. Hoffman Company returned $7,500 of the merchandise and received full credit.

a. If Hoffman Company pays the invoice within the discount period, what is the amount of cash required for the payment?

b. What account is debited by Hoffman Company to record the return?

Reference no: EM132486950

Questions Cloud

What is the maximum contribution Zack may make : Zack, a sole proprietor, has earned income of $85,000 in 2019. What is the maximum contribution Zack may make to a defined contribution Keogh plan
What are views on casual sex : What are views on casual sex? what do you think about dating others at work or having non-professional, personal relationships with co-workers?
What is the adjustment for this change : What is the $481(a) adjustment for this change in accounting method? Indicate whether the adjustment is positive or negative
What role does the holy spirit play in interpretation : What details did you discover that you had not noticed before? How do you think this exercise can help you to interpret the text better?
What is the amount of cash required for the payment : If Halibut Company pays the invoice within the discount period, what is the amount of cash required for the payment
Analysis of central nervous system disease-dysfunction : Analysis of Central Nervous System Disease/Dysfunction: choose a disorder that affects one or more components of the central nervous system
What is the amount of the gross profit : Merchandise is sold for $18,300 cash and $295,700 on account. The cost of the merchandise sold is $188,000. What is the amount of the gross profit
What is the supply chain mean : Describing the Company and its work as a Supply Chain and include what is in the Supply Chain and how they operate. Identify a key Fortune 500 Company
How many dna bases are different in the cow : How many DNA bases are different in the cow and human sequences?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd