Solution-What the account that appears in the chart of

What the account that appears in the chart of accounts

Assignment Help Accounting Basics

Reference no: EM132818056

Problem 1: The account that appears in the chart of accounts for a merchandising entity but not for a service entity is

a. accounts receivable. C. advertising expense.

b. accumulated depreciation. d. sales returns and allowances.

Problem 2: Olive Valenzuela Traders purchased merchandise from San Jose Suppliers for P3,600 list price, subject to a trade discount or 25%. The goods were purchased on terms of 2/10, n/30, F.O.B. destination. Valenzuela paid P100 transportation costs. Valenzuela returned P400 (list price) of the merchandise to San Jose and later paid the amount due within the discount period. The amount paid is

a. P2,254. C. P2,246.

b. P2,252. d. P2,352.

Reference no: EM132818056

Questions Cloud

What was the cost of goods sold for aileen maglana company : Purchases returns and allowances, P2,000; transportation in, P3,000; ending inventory was P8,000. What was the cost of goods sold for 2019?

Relevant components for the black-scholes formula : How would you value the equity of a firm using real options if the face value of the firms liabilities are bigger than the value of the firms asset'

What potential changes could the federal government enact : After watching the video Generational Theft regarding our nation's debt situation and the impact of entitlements like Social Security and Medicare.

Find key financial variables unchanged : The most recent dividend Blue Mountain Breweries Limited paid was $39% per share. The company expects to pay the same dividend each year.

What the account that appears in the chart of accounts : Valenzuela returned P400 (list price) of the merchandise to San Jose and later paid the amount due within the discount period. The amount paid is

Calculate the current market value of bluenose chip stock : Calculate the current market value of Bluenose Chip's stock. Show your work!

Calculate degree of operating leverage : Calculate degree of operating leverage, degree of financial leverage and degree of combined or total leverage, change in sales is 5%

Describe the cec ethical principles : IDEA requires that specific topics be covered in an IEP meeting. The IEP team consists of general education teachers, special education teachers.

What the seller will issue to the customer a : When a seller of, merchandise allowed a customer a reduction from the original price for defective goods, the seller will issue to the customer a

User Account

All Pages

What the account that appears in the chart of accounts

Reference no: EM132818056

Reference no: EM132818056

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT