4 How much accounts receivable from the transaction is included in Goo's 20x1 statement of financial position? a. 1,370,000 c. 1,380,000 d. 1,350,000 b. 1,375,000 5. How much is the foreign exchange gain (loss) is recognized in Goo's 20x2 statement of profit or loss? c. (10,000) d. (30,000) a. 10,000 b. 30,000 strie ait el 6. How much is the total foreign exchange gain (loss) recognized from the transaction? a. 20,000 b. 25,000 c. (20,000) d. (25,000)
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- BLOCK D/2018/1 In t1, you purchase goods on target in the amount of € 9 thousand (net). Furthermore, transport costs of € 500 (net) to be paid to an external service provider for the purchase of the goods are incurred (incidental acquisition costs); payment is also made on destination. Your col- lege posts the goods receipt as follows: purchase of goods € 9,000 and amounts of € 1,710 intrade payables € 10,710 as well as Other operating expenses for trade payables €500. The goods are to be sold in t2. It is foreseeable that you will be able to sell the goods witha high profit margin. Do the postings of the colleague lead to an accrual determination of success? If further bookings or corrections are required in t1, make them and justify your action with reference to the possible bookings. relevant legal regulations!How much is the remaining balance on due date?Invoice Date: 11/5/14Date of goods’ arrival: 11/8/14List Price: P368,900Shipping fee: P3,240 (separate invoice)Terms of Payment: FOB Destination 8% Trade discount6/10,3/20, n/30Partial Payments: P90,000 on Nov 8, 2014P130,000 on Nov 14, 2014P40,000 on Nov 21, 2014P50,000 on Nov 25, 2014Question Content Area An invoice received included the following information: merchandise price, $4,500; terms 1/10, n/eom; FOB shipping point with prepaid freight of $460. Assuming that a credit for merchandise returned of $900 is granted prior to payment and that the invoice is paid within the discount period, what amount of cash should be paid by the buyer? a. $4,910 b. $4,500 c. $4,024 d. $900
- 4. MAKE THE NECCESSARY JOURNAL ENTRIES FOR FOREIGN CURRENCY TRANSACTIONS 1. X Company purchased 15.000 USD cash, for purchasing merchandise. Parity (rate) is 7,50 TL/ USD. Check is issued for currency purchase. 2. Merchandise is purchased for 8000 USD + %10 VAT. Cash (USD) paid for merchandise. Parity at Trasaction date is 7,30 /USD. VAT is on account. 3. Merchandise sold to Domestic Customer, for 30.000 USD + %10 VAT .Freight out is 5.400 TL + % 10 VAT.Customer issued a check ( USD). For purchase and note received for VAT. 4.Company opened 40.000 USD " Demand Deposit Account" in X Bank.Parity is 7,60 TL/ USD. 5.Vendor's open account is closed by transferring 12.000 USD from X Bank "Demand Deposit Account" .parity is 7,90 TL/USD.Freight Terms Determine the amount to be paid in full settlement of each of two invoices, (a) and (b), assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period. If required, round the answers to the nearest dollar. Merchandise $8,350 3.900 8,738 X 385 X Freight Paid by Seller $600 400 SAMSUNG Freight Terms FOB shipping point, 2/10, n/30 FOB destination, 1/10, n/30 bjufcer FOB shipping point, freight is paid by the buyer, while under FOB pestination freight is the seller's expense. To determine the amount, first deduct the return before calculating the discount. Then calculate (Purchase - Return - Discount) + applicable reight. Pravic 5:32 AM 4/10/2023Freight terms Determine the amount to be paid in full settlement of each of the two invoices (a) and (b), assuming that the credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period. If required, round the answers to the nearest dollar. A. Merchandise - $8,300.00 Freight Paid by Seller - $600.00 Freight Terms - FOB shipping point, 2/10, n/30 Returns and Allowance - $1,150.00 B. Merchandise - $4,400.00 Freight Paid by Seller - $600.00 Freight Terms - FOB destination, 1/10, n/30 Returns and Allowances - $900.00
- Freight Terms Determine the amount to be paid in full settlement of each of two invoices, (a) and (b), assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period. a. b. a. b. Merchandise $120,800 147,700 00 Freight Paid by Seller $1,300 2,100 Freight Terms FOB shipping point, 1/10, n/30 FOB destination, 2/10, n/30Please answer the following question in accordance with this explanation. • Transaction • Incoterm • Amount • Latest Shipment • Expiry • Payment • Partial shipment :L/C : CFR Istanbul : Appr. USD100.000.- (+/-10% acceptable) : 18.06.2020 : 20.06.2020 at the counters of the beneficiary's bank :2 days after receipt of appropriate documents. : Allowed Which one of the following will verify the documents and decide on their payability? Select one: A. Reimbursing Bank OB. The seller C. The seller's bank O D. The buyer's bank E. The buyerDollar-Value LIFO Retail Intella Inc. adopted the dollar-value retail LIFO method on January 1, 2018. The following data apply to the 4 subsequent years: In addition, the following price indexes are available: Required: Compute the inventory at the end of each of the 4 years. Round the cost-to-retail ratio to 3 decimal places.
- ABC Company sold Euro 80 of goods to XYZ Company on credit on May 1. Terms were 20/5, n/60. PART A The accounting period of the company coincides with the calendar year. In this section, please assume XYZ paid the balance due on May 4. In light of this, net sales reported on ABC's income statement are Euro...... Place your answer here: PART B In this section, please assume XYZ returned on May 2, Euro 5 of defective goods, and then paid the outstanding balance due on May 16. In light of this, net sales reported on ABC's income statement are Euro... Place your answer here:On 15 December 2020; Saadah Company purchased goods at the amount of 42500 OMR and paid 12500, the balance is on account. Which of the following is the correct journal entry for this transaction? Select one: O A. Date Accounts Debit Credit (RO) (RO) Goods 42500 30000 15.12.2020 Payable Cash 12500 О в. Debit Credit (RO) (RO) Date Accounts Payable 30000 15.12.2020 Cash 12500 Goods 42500 Date Accounts Debit Credit (RO) (RO) Payable 30000 15.12.2020 Cash 12500 Goods 42500 D. Date Accounts Debit Credit (RO) (RO) Goods 42500 30000 15.12.2020 Cash Payable 12500Module 3 MI Assessment.doc Prepare journal entries to record the transactions using gross method and net method: compute for change inventory, beginning inventory, cost of sales and net purchases under each method Autumn Company provided the following transactions for the current year, the first year of operations. Purchase of merchandise at an invoice price of 4,750,000 excluding freight. Terms are 2/10, n/30. b. Freight paid, 250,000. The freight is allocated to each purchase. c. Cash payment on purchases 3,717,000 of which 1,617,000 was paid within the discount period. d. It is expected that all discounts on unpaid accounts payable will be lost. On December 31, one fifth of the merchandise remains on hand. f. Assuming at the end of the accounting period no payment was made, what is the corresponding journal I. а. е. entry. Using the information of Autumn Company: prepare journal entries to record the transactions using gross method and net method: compute for accounts receivable and…