Description of this paper

Loading

Name: Date: Matching Referring to the items listed below, place-(Answered)

Description

Step-by-step Instant Solution


Question

I am taking ACCT105 at AMU and I need help with the week 6




I am taking ACCT105 at AMU and I need help with the week 4 assignment



Name:

 

Date:

 

Matching

 

Referring to the items listed below, place the appropriate letter next to the corresponding description.

 


 

a.

 

b.

 

c.

 

d.

 

e.

 


 

FOB shipping point

 

Freight prepaid

 

Chain discount

 

Sales discounts

 

FOB destination

 


 

f.

 

g.

 

h.

 

i.

 

j.

 


 

Freight collect

 

Purchase discounts

 

Operating revenues

 

Nonoperating revenues

 

Credit

 


 

k.

 

l.

 

m.

 

n.

 

o.

 


 

Debit

 

Cost of goods sold

 

Gross margin

 

Selling expenses

 

Adminstrative

 


 

1.

 


 

a

 


 

The term used when the buyer incurs all transportation costs after the merchandise is loaded at

 

the point of shipment.

 


 

2.

 

3.

 

4.

 


 

f

 

c

 

g

 


 

This term is used when the buyer pays the freight bill upon arrival of the goods.

 

This term is applied when a list price is subject to several trade discounts.

 

Cash discounts as recorded on the books of the buyer.

 


 

Completion and Exercises

 

Fill in the blanks using the dropdown list.

 


 

1.

 


 

When the perpetual inventory method is being used, the accounta

 

(or Cash) when goods are purchased and debits Cost of Goods So

 

with the proper sales entry.

 


 

2.

 


 

When prices are rising, LIFO inventory is __________ (higher or lo

 

the cost of goods sold under LIFO to be __________ (higher or low

 

__________ (higher or lower) under LIFO.

 


 

3.

 

4.

 


 

gross margin method

 

retail inventory method

 


 

Name two recognized methods of estimating the cost of ending inv

 


 

Assuming periodic inventory procedure, what effect would an und

 

the financial statements?

 

Balance Sheet

 


 

 

Paper#9255570 | Written in 27-Jul-2016

Price : $16
SiteLock