On Aug 29, Sindhu received an invoice for $85.49, dated Aug 27. If the terms of the invoice are 4/10, 2/20, n/60, what amount is required on Sep 15 to pay the invoice in full?
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- On December 31, 2019, Don accepted a note receivable from Mike’s Builders for $1,000 as a good faith promise to pay for electrical engineering services rendered that week. The terms of the note are: Face $1,000, Interest 7%, Due in 180 Days. Prepare Don’s journal entry for December 31, 2019. Pay close attention to what I am asking for.Soledad receives a bill for P18,000 dated July 7 with terms 6/15, 4/30, n/60. What cash discount will she received if she pays (a) in 15 days; (b) on the 25th day; and (c) on the 40th day? Round to the nearest centavoAlan Tyler s VISA balance is $1,004.66. He may pay it off in 12 equal end-of-month payments of $95 each. What interest rate is Alan paying?
- Amelia receives her monthly Telstra mobile phone bill on 27 June 2023. Assume that Amelia uses the phone 75 per cent for business purposes. The amount of $100 is due for payment on 27 July 2023. Amelia pays her phone bill on 14 July 2023. Required On what date has Amelia incurred the phone expense? Explain why its 27th June 2023On December 31, 2019, Don accepted a note receivable from Mike’s Builders for $1,000 as a good faith promise to pay for electrical engineering services rendered that week. The terms of the note are: Face $1,000, Interest 7%, Due in 180 Days. Prepare the journal entry for Don on March 31, 2020 (quarterly) pertaining to the note. Pay close attention to what I am asking for.Muriel Evan write the following note on the back of an envelope: "I, Murierl Evans, promis to pay Karen Marvins or bearer $100 on demand. " Is this a negottiable instrument? Discuss why or why not.
- Jim Pharoah, M.D., keeps his accounting records on the cash basis. During 2021, Dr. Pharoah collected $380000 from his patients. At December 31, 2020, Dr. Pharoah had accounts receivable of $39500. At December 31, 2021, Dr. Pharoah had accounts receivable of $69000 and unearned revenue of $9000. On the accrual basis, how much was Dr. Pharoah's patient service revenue for 2021? $400500. $409500. $340500. $418500.A customer bought goods from John, a registered VAT taxpayer, on the 12 February 2022. The goods were delivered on the 15 February 2022. The goods were invoiced on 15 March 2022. The customer paid for the goods on the 1 April 2022. If John is required to file his VAT return on the 15 day of the month following when the supply takes place, John would be required to: a.File his April 2022 VAT Return on the 15 May 2022 b.He is not required to file a VAT Return as the sales is below the VAT threshold. c.File his February 2022 VAT Return on the 15 March 2022 d.File his March 2022 VAT Return on the 15 April 2022Barry has paid the following insurance bills in the year ended 31 December 2020: £3,000 for the 3 months ended 28 February 2020 £2,500 for the 3 months ended 31 May 2020 £3,500 for the 3 months ended 31 August 2020 £3,000 for the 3 months ended 30 November 2020 In March 2020 he received a bill for £3,000 for the 3 months ended 28 February 2021 What is the charge to P/L for rent for the year ended 31 December 2020? a) £10,500 b) £12,500 c) £14,000 d) £12,000
- A customer bought goods from John, a registered VAT taxpayer, on the 12 February 2022. The goods were delivered on the 15 February 2022. The goods were invoiced on 15 March 2022. The customer paid for the goods on the 1 April 2022. If John is required to file his VAT return on the 15 day of the month following when the supply takes place, John would be required to: a. File his April 2022 VAT Return on the 15 May 2022 b. He is not required to file a VAT Return as the sales is below the VAT threshold. c. File his February 2022 VAT Return on the 15 March 2022 d. File his March 2022 VAT Return on the 15 April 2022Joe is a return preparer who completes Paul's return on March 1. Joe presents it to Paul for his signature on April 1. The return is due on April 15, but Pau does not pay Joe until June 1. Joe must furnish a copy of the return to Paul no later than?2. Ms. Fatima sold to Ms. Ruqaiya OMR 60,000 worth of goods on the 15th of April 2022 by accepting a 150 days, 6% interest bearing note. Both Ms. Fatima & Ms. Ruqaiya need your help in understanding how and in what way the notes receivable and the payables should be treated. Provide them with the required help by showing how the transactions would be treated in the books of both parties in the following situations: a) When the notes are accepted. b) On the maturity date, the note is honored. c) Suppose Ms. Fathima prepared final accounts on the 25th of July 2022 d) Following the above situation, the bill is met on maturity. e) The note was dishonored on the maturity date by Ms. Ruqaiya.