Question : 41) Boise Cascade Company purchases $5,000 of merchandise from a : 1253268

 

 

41) Boise Cascade Company purchases $5,000 of merchandise from a vender with credit terms of 2/10, n/30. Assuming that Boise Cascade pays within the discount period, the total cost of the inventory is ________.

A) $5,000

B) $4,900

C) $4,500

D) $3,500

 

42) On January 5, Boise Cascade Company purchases $5,000 of merchandise from a vendor with credit terms of 2/10, n/30. If Boise Cascade pays the vendor on January 20, the amount of the payment should be ________.

A) $5,000

B) $4,900

C) $4,500

D) $3,500

43) On January 5, Boise Cascade Company purchases $5,000 of merchandise from a vendor with credit terms of 2/10, n/30. If Boise Cascade pays the vendor on January 13, the amount of the payment should be ________.

A) $5,000

B) $4,900

C) $4,500

D) $3,500

 

44) Rigby Company purchased merchandise from a supplier in Hong Kong with an invoice cost of $10,000 and shipping terms of FOB destination. The freight costs amount to $1,000. Rigby should record inventory at a cost of ________.

A) $11,000

B) $10,000

C) $9,000

D) $1,000

 

45) Banner, Inc. purchases $45,000 of merchandise from a vendor with credit terms of 2/10, n/30. Assuming that Banner pays within the discount period, the total cost of the inventory is ________.

A) $45,900

B) $45,000

C) $40,500

D) $44,100

 

46) Rigby Company buys merchandise from Shoshone Company with an invoice cost of $100,000 and shipping terms of FOB shipping point. The freight costs amount to $1,000. Which of the following statements is TRUE?

A) Rigby Company will record freight-in costs of $1,000.

B) Shoshone Company will record freight-out costs of $1,000.

C) Shoshone Company will record freight-in costs of $1,000.

D) Rigby Company will have inventory cost of $10,000.

47) Rigby Company buys merchandise from Shoshone Company with an invoice cost of $10,000 and shipping terms of FOB destination. The freight costs amount to $7,000. Which of the following statements is TRUE?

A) Rigby Company will record freight-in costs of $7,000.

B) Shoshone Company will record freight-out costs of $7,000.

C) Shoshone Company will record freight-in costs of $7,000.

D) Rigby Company will have inventory cost of $107,000.

 

48) Horse Creek Company had beginning inventory of $34,000, purchases of $210,000, purchase returns of $13,000, and ending inventory of $40,000. What was the cost of goods sold?

A) $204,000

B) $198,000

C) $157,000

D) $191,000

 

49) On May, 2, Breyer, Inc. purchases $25,000 of merchandise from a vendor with credit terms of 2/10, n/30. If Breyer pays the vendor on May 10, the amount of the payment should be ________.

A) $25,000

B) $24,500

C) $22,500

D) $27,500

 

50) Rigby Company buys merchandise from Shoshone Company with an invoice cost of $10,000 and shipping terms of FOB shipping point. The freight costs amount to $1,000. Which of the following statements is TRUE?

A) Rigby Company will record freight-in costs of $1,000.

B) Shoshone Company will record freight-out costs of $1,000.

C) Shoshone Company will record freight-in costs of $1,000.

D) Rigby Company will have inventory cost of $10,000.

 

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more