(i) Amount of discount deducted from the invoice price.

(i) Amount of discount deducted from the invoice price.
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Give the word term or phrase which can substitute each of the following statement : (i) ... on which a double-entry bookkeeping system is based.
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Flynn Company purchased merchandise inventory with an invoice price of $5,000 and credit terms of 2/10, n/30. What is the net cost of the goods if Flynn Company pays within the discount period? a. $5,000 b. $4,900 c. $4,500 d. $4,600

Description : Flynn Company purchased merchandise inventory with an invoice price of $5,000 and credit terms of 2/10, n/30. What is the net cost of the goods if Flynn Company pays within the discount period? a. $5,000 b. $4,900 c. $4,500 d. $4,600

Last Answer : b. $4,900

The credit terms offered to a customer by a business firm are 2/10, n/30, which means that a. the customer must pay the bill within 10 days. b. the customer can deduct a 2% discount if the bill is paid between the 10th and 30th day from the invoice date. c. the customer can deduct a 2% discount if the bill is paid within 10 days of the invoice date. d. two sales returns can be made within 10 days of the invoice date and no returns thereafter.

Description : The credit terms offered to a customer by a business firm are 2/10, n/30, which means that a. the customer must pay the bill within 10 days. b. the customer can deduct a 2% discount if the ... date. d. two sales returns can be made within 10 days of the invoice date and no returns thereafter.

Last Answer : c. the customer can deduct a 2% discount if the bill is paid within 10 days of the invoice date.

Jake’s Market recorded the following events involving a recent purchase of merchandise: Received goods for $20,000, terms 2/10, n/30. Returned $400 of the shipment for credit. Paid $100 freight on the shipment. Paid the invoice within the discount period. As a result of these events, the company’s merchandise inventory a. increased by $19,208. b. increased by $19,700. c. increased by $19,306. d. increased by $19,308.

Description : Jake's Market recorded the following events involving a recent purchase of merchandise: Received goods for $20,000, terms 2/10, n/30. Returned $400 of the shipment for credit. Paid $100 freight on the shipment. ... . b. increased by $19,700. c. increased by $19,306. d. increased by $19,308.

Last Answer : d. increased by $19,308.

Zach’s Market recorded the following events involving a recent purchase of merchandise: Received goods for $50,000, terms 2/10, n/30. Returned $1,000 of the shipment for credit. Paid $250 freight on the shipment. Paid the invoice within the discount period. As a result of these events, the company’s merchandise inventory a. increased by $48,020. b. increased by $49,250. c. increased by $48,265. d. increased by $48,270.

Description : Zach's Market recorded the following events involving a recent purchase of merchandise: Received goods for $50,000, terms 2/10, n/30. Returned $1,000 of the shipment for credit. Paid $250 freight on the shipment ... 020. b. increased by $49,250. c. increased by $48,265. d. increased by $48,270.

Last Answer : d. increased by $48,270.

Ashwin purchased a second hand machine for Rs.1 lakh. Over the first year after its purchase. He incurred an expense of Rs.20000 in maintaining it. At the end of the first year he sold it for Rs.80000. Find his profit/loss percentage. If 25% of the total cost price (i.e., purchased price + expenses) is to be deducted on account of depreciation. a)12.5% profit b)12.5% loss c)11 1/9% profit d)11 1/9% loss

Description : Ashwin purchased a second hand machine for Rs.1 lakh. Over the first year after its purchase. He incurred an expense of Rs.20000 in maintaining it. At the end of the first year he sold it for Rs.80000. Find his ... account of depreciation. a)12.5% profit b)12.5% loss c)11 1/9% profit d)11 1/9% loss

Last Answer : d)11 1/9% loss 

Stine Company purchased merchandise with an invoice price of $2,000 and credit terms of 2/10, n/30. Assuming a 360 day year, what is the implied annual interest rate inherent in the credit terms? a. 20% b. 24% c. 36% d. 72%

Description : Stine Company purchased merchandise with an invoice price of $2,000 and credit terms of 2/10, n/30. Assuming a 360 day year, what is the implied annual interest rate inherent in the credit terms? a. 20% b. 24% c. 36% d. 72%

Last Answer : c. 36%

Bill is furious when he reads the invoice since it includes £50 in shipping charges and he had assumed that the price quoted by the seller had included these charges. Bob should have checked that the order terms were: A)FOB factory price B)base point price C)freight absorption price. D)FOB destination price.

Description : Bill is furious when he reads the invoice since it includes £50 in shipping charges and he had assumed that the price quoted by the seller had included these charges. Bob should have checked that ... were: A)FOB factory price B)base point price C)freight absorption price. D)FOB destination price.

Last Answer : D)FOB destination price.

Under Obamacare how much money of my paycheck will be deducted?

Description : Under Obamacare how much money of my paycheck will be deducted?

Last Answer : From what I have read you don’t make enough to be effected.

Should smokers' breaks be deducted from their lunch hours?

Description : Should smokers' breaks be deducted from their lunch hours?

Last Answer : Seems fair to me. You can take time to smoke, but you don’t get more total time “off” than a non-smoker. Otherwise, the non-smoker is essentially subsidizing the smoker (which they also do with respect to health insurance).

During the summer, if I work 20 hours a week, with 6.50 an hour, for 2 months, how much Money would I earn with the taxes deducted?

Description : During the summer, if I work 20 hours a week, with 6.50 an hour, for 2 months, how much Money would I earn with the taxes deducted?

Last Answer : it depends on where you live and how your taxes are setup like how many dependents or if you’re exempt or not. If you’re a full time student you can be exempt from taxes. But why would you work for 6.50 an hour? That’s like nothing. I think minimum wage is 7.25 here in MA

What are you talking about ? Brother, did you return my points ? I did not know that if you mark yourself, the points are deducted. My 100 points have been deducted. Please return it. I will not do that again. I want to come back to Ans Bangla again.

Description : What are you talking about ? Brother, did you return my points ? I did not know that if you mark yourself, the points are deducted. My 100 points have been deducted. Please return it. I will not do that again. I want to come back to Ans Bangla again.

Last Answer : answer:

Why is this happening to me ? I carefully answered each question separately from the previous answer. Even then why my 50-60 points were deducted ? It would be nice if someone could explain the reasons for cutting points.

Description : Why is this happening to me ? I carefully answered each question separately from the previous answer. Even then why my 50-60 points were deducted ? It would be nice if someone could explain the reasons for cutting points.

Last Answer : answer:

What are the points deducted when asking questions in Ans Bangla ?

Description : What are the points deducted when asking questions in Ans Bangla ?

Last Answer : : Yes , each question is deducted by two points.

Can interest on Home Equity loan be deducted from federal taxes

Description : Can interest on Home Equity loan be deducted from federal taxes

Last Answer : The interest on most home equity loans is tax deductible. There are limitations to interest deductions for home equity loans depending on what the loan is used for. For more information about home equity loan tax deductions, see IRS Publication 936, Home Mortgage Interest Deduction .

As per Schedule VI of the Companies’ Act, 1956, Forfeited Share Account will be– (A) Added to paid up capital (B) Deducted from called up capital (C) Added to capital reserve (D) Shown as a revenue reserve

Description : As per Schedule VI of the Companies’ Act, 1956, Forfeited Share Account will be– (A) Added to paid up capital (B) Deducted from called up capital (C) Added to capital reserve (D) Shown as a revenue reserve

Last Answer : Answer: Deducted from called up capital

Which of the following is deducted from GNP to arrive at NNP? (1) Depreciation (2) Interest (3) Tax (4) Subsidy

Description : Which of the following is deducted from GNP to arrive at NNP? (1) Depreciation (2) Interest (3) Tax (4) Subsidy

Last Answer : (1) Depreciation Explanation: If we subtract the depreciation charges from the gross national product, we get net national product at market price. Net national product at market price=Gross national product at market priceDepreciation.

No TDS will be deducted if the amount of interest paid in a financial year does not exceed Rs____ a) 3500/- b) 5000/- c) 1000/- d) 10000/

Description : No TDS will be deducted if the amount of interest paid in a financial year does not exceed Rs____ a) 3500/- b) 5000/- c) 1000/- d) 10000/

Last Answer : d) 10000/

In the case of an inland MO, in which it is learnt that the payee has left India and his revised address, is known to the PO a) The MO cannot be redirected but is should be returned to the remitter. b) The MO can be redirected to payee in another foreign country as per the information available c) The Mo can be redirected, but he difference in the commission of the redirected MO to a foreign country should be deducted in the original value of MO d) None of these

Description : In the case of an inland MO, in which it is learnt that the payee has left India and his revised address, is known to the PO a) The MO cannot be redirected but is should be returned to the ... the redirected MO to a foreign country should be deducted in the original value of MO d) None of these

Last Answer : c) The Mo can be redirected, but he difference in the commission of the redirected MO to a foreign country should be deducted in the original value of MO

If piston displacement is deducted from the total volume of cylinder the remaining volume is known as 1. piston displacement 2. Clearance volume 3. displacement volume 4.compression ratio

Description : If piston displacement is deducted from the total volume of cylinder the remaining volume is known as 1. piston displacement 2. Clearance volume 3. displacement volume 4.compression ratio

Last Answer : ans 2

After gross profit is calculated, operating expenses are deducted to determine a. gross margin. b. operating income. c. gross profit on sales. d. net margin.

Description : aAfter gross profit is calculated, operating expenses are deducted to determine a. gross margin. b. operating income. c. gross profit on sales. d. net margin.

Last Answer : b. operating income.

Sale of products from test run before production run is a) Deducted from actual cost b) Added to actual cost of assets c) Charged as pre-profits d) Charged as preliminary expenses

Description : Sale of products from test run before production run is a) Deducted from actual cost b) Added to actual cost of assets c) Charged as pre-profits d) Charged as preliminary expenses

Last Answer : a) Deducted from actual cost

Capital receipts under head “PGBP” shall be ………… a) Added to income b) Deducted from income c) Shall not take in to account d) Shown as separate line item

Description : Capital receipts under head “PGBP” shall be ………… a) Added to income b) Deducted from income c) Shall not take in to account d) Shown as separate line item

Last Answer : ICDS-3 is applicable for-

Any income which is earned illegally shall ........... a. be included to profit b. be excluded / deducted c. not be take into account d. either b or c

Description : Any income which is earned illegally shall ........... a. be included to profit b. be excluded / deducted c. not be take into account d. either b or c

Last Answer : a. be included to profit

While computation of profit in marginal costing A. Total marginal cost is deducted from total sales revenues B. Total marginal cost is added to total sales revenues C. Fixed cost is added to contribution D. None of the above

Description : While computation of profit in marginal costing A. Total marginal cost is deducted from total sales revenues B. Total marginal cost is added to total sales revenues C. Fixed cost is added to contribution D. None of the above

Last Answer : A. Total marginal cost is deducted from total sales revenues

Goodwill written off is-----------to the net profit made during the year for calculating the cash from operation a) Added back b) Deducted c) Decreased d) None of these

Description : Goodwill written off is-----------to the net profit made during the year for calculating the cash from operation a) Added back b) Deducted c) Decreased d) None of these

Last Answer : a) Added back

In the fund flow statement, depreciation is---------------- a) Deducted from net profit b) Added to net profit c) Sources of working capital d) Ignored

Description : In the fund flow statement, depreciation is---------------- a) Deducted from net profit b) Added to net profit c) Sources of working capital d) Ignored

Last Answer : b) Added to net profit

Furniture sold for cash -----funds flow a) Increases b) Decreases c) Deducted d) None of these

Description : Furniture sold for cash -----funds flow a) Increases b) Decreases c) Deducted d) None of these

Last Answer : a) Increases

Any gain on sale of non-current asset should be ----- from the net profit for determining funds from operation a) Deducted b) Added c) Increased d) None of these

Description : Any gain on sale of non-current asset should be ----- from the net profit for determining funds from operation a) Deducted b) Added c) Increased d) None of these

Last Answer : a) Deducted

At the balance sheet date, the balance on the Accumulated Provision for Depreciation Account is A) Transferred to Depreciation Account B) Transferred to the Asset Account C) Transferred to Profit and Loss Account D) Simply deducted from the asset in the Balance Sheet

Description : At the balance sheet date, the balance on the Accumulated Provision for Depreciation Account is A) Transferred to Depreciation Account B) Transferred to the Asset Account C) Transferred to Profit and Loss Account D) Simply deducted from the asset in the Balance Sheet

Last Answer : Answer: D

Discounts received are A) Deducted by us when we pay our accounts B) Deducted when we receive cash C) Given by us when we sell goods on credit D) None of these

Description : Discounts received are A) Deducted by us when we pay our accounts B) Deducted when we receive cash C) Given by us when we sell goods on credit D) None of these

Last Answer : Answer: A

Which of the following is deducted from GNP to arrive at NNP ? (1) Depreciation (2) Interest (3) Tax (4) Subsidy

Description : Which of the following is deducted from GNP to arrive at NNP ? (1) Depreciation (2) Interest (3) Tax (4) Subsidy

Last Answer : Depreciation

From the salary of pooja , 40% is deducted as house rent, 20% of rest she spends on children's education and 40% of balance she spends on watching movies. If her savings are Rs.5760/- then hers total salary is: a) 20000 b) 30060 c) 45000 d) 47000 e) 98000

Description : From the salary of pooja , 40% is deducted as house rent, 20% of rest she spends on children's education and 40% of balance she spends on watching movies. If her savings are Rs.5760/- then hers total salary is: a) 20000 b) 30060 c) 45000 d) 47000 e) 98000 

Last Answer : Answer: A Formula: First value = last value×100/(100-p1)×100/(100-p2)× 100/(100-p3) (p=percentage) First value = 5760×100/(100 – 40)×100/(100 – 20)×100/(100 - 40 )  = 5760 × 100/60× 100/80× 100/60  = 5760 × 5/3 × 5/4 × 5/3  = 5760 ×125/36  = 720000/36  = 20000

From the salary of shreya, 15% is deducted as house rent, 15% she spends on children’s education and 20% on watching movies. If her savings are Rs.8450/- then her total salary is: a) 13500 b) 2360 c) 16900 d) 11520 e) 23198

Description : From the salary of shreya, 15% is deducted as house rent, 15% she spends on children’s education and 20% on watching movies. If her savings are Rs.8450/- then her total salary is: a) 13500 b) 2360 c) 16900 d) 11520 e) 23198 

Last Answer : Answer: C She spends = 50% remaining 50% = 8450  Total salary = 8450 × 100 / 50  = 845000 / 50  = 16900

Can I correct my invoice?

Description : Can I correct my invoice?

Last Answer : I would send a letter explaining how you made the error and enclose a new invoice with new amount owed.

Invoice – to pay or not to pay?

Description : Invoice – to pay or not to pay?

Last Answer : Man I wouldn’t pay it either. She should of waited for your confirmation to start any work rather than doing it with out you saying anything. That’s shady. Don’t give her the satisfaction of paying it.

What to do when an eBay seller does not send you an invoice?

Description : What to do when an eBay seller does not send you an invoice?

Last Answer : heres an interesting term of events: the vuyer emailed me saying that there was am was an error in the pricing system. The camera is actually worth US$218.89 minus shipping. even thought when i bought it with ... the money but i feel like i should get the camera that I won.So what should i do???

Billings: How do you send a 'normal' (non-timed) invoice for sold inventories on a flat-fee basis?

Description : Billings: How do you send a 'normal' (non-timed) invoice for sold inventories on a flat-fee basis?

Last Answer : answer:Create a new slip and set it's Kind' as Flat'. Then in put the unit price in the rate field and add one hour to the log. I don't know if that's how you're supposed to do it, ... but if you change it to decimal, you'll end up with a more normal looking quantity figure for fixed-price items.

I have filled in all the information. Finally the invoice is something. Then comes the merchant number and bKash personal number. And with the reference number is coming. How can I make the payment. Help! ?

Description : I have filled in all the information. Finally the invoice is something. Then comes the merchant number and bKash personal number. And with the reference number is coming. How can I make the payment. Help! ?

Last Answer : I think you want to buy something hosting or domain type , if so you take their personal number from your provider. Then send money by developing that number. And give the number from which you sent the money to their live support. They will pay the payment.

What does invoice mean ?

Description : What does invoice mean ?

Last Answer : invoice. Money consignment.

Do I have to pay back the invoice supplement?

Description : We ordered and paid in advance for the door to the apartment. The assembly took place and the next day the lady from the company called me that she had forgotten to put the insert in the door on the ... it. Otherwise, he says he will send workers to dismantle her for me. thank you for the advice

Last Answer : If you don't want to leave the door open, pay.

Is there any solution for batch invoice quickbooks?

Description : Is there any solution for batch invoice quickbooks?

Last Answer : quickbooks.intuit.com/quickbooks/o ... 50% off For A Limited Time Only. Buy QuickBooks Accounting Software Now & Save. Multi-User Login. Automated Invoicing. Professional Invoices. Free 30 Day Trial. Anytime, Anywhere Access.

Is it always best to have invoice signed for approval after processing for payment?

Description : Is it always best to have invoice signed for approval after processing for payment?

Last Answer : It is best to have invoices signed for approval 'before'processing for payment. Each invoice should be checked to ensurethe invoice is genuine. There have been cases were an invoice isbogus, and a criminal has sent it to a company in the hope theinvoice will be paid without being checked.

What information is listed on a dealer invoice?

Description : What information is listed on a dealer invoice?

Last Answer : The dealer invoice will have the vehicle ID number, list of the standard equipment and any options on the car along with the prices. If applicable it will also have the MPG estimates. There are usually several add on costs listed also, such as, local prep and delivery and destination charges.

What information is recorded on a car invoice?

Description : What information is recorded on a car invoice?

Last Answer : A car invoice contains the date of purchase, the person who purchases, the seller of the car, the purchase price, the state tax (amount is based on individual state regulations). It optionally contains a list of car features and information about extras, additions and modifications.

Where can I find a list of invoice factoring companies in the Long Island, NY area?

Description : Where can I find a list of invoice factoring companies in the Long Island, NY area?

Last Answer : Platinum funding group specializes in invoice factoring and they have locations in New York where you can talk with them. To find a location just contact them, http://www.platinumfundinggroup.com/

How To Create an Invoice?

Description : How To Create an Invoice?

Last Answer : For any small business, finding secure and convenient repayment terms to offer to customers is very important. Since most customers will not want to pay the whole balance upfront, you may want ... reduce the risk of the customer inadvertently sending their check to the wrong address or business.

Surplus stock of certificates should never be held in HOs and SOs and should be returned to the supplying office. An invoice in form NC-13 shall be prepared in _____ by the S.O. and in ____ by the H.O a) Duplicate, triplicate b) Triplicate, duplicate c) Quadruplicate, triplicate) d) Triplicate, quadruplicate

Description : Surplus stock of certificates should never be held in HOs and SOs and should be returned to the supplying office. An invoice in form NC-13 shall be prepared in _____ by the S.O. ... H.O a) Duplicate, triplicate b) Triplicate, duplicate c) Quadruplicate, triplicate) d) Triplicate, quadruplicate

Last Answer : d) Triplicate, quadruplicate

The invoice (NC-13) for supplying the Certificate prepare in a) Duplicate b) Triplicate c) Quadruplicate d) Single copy

Description : The invoice (NC-13) for supplying the Certificate prepare in a) Duplicate b) Triplicate c) Quadruplicate d) Single copy

Last Answer : b) Triplicate

Which of the following entry will be made in BO a) To invoice remittance noting the details of cash( including stamps) sent to the branch office b) To confirm the accuracy of the daily account last received from the BO by entering the balance in words and figure of last BO daily account c) To Note the particulars of articles, documents, account office receipts, sent to the branch office. d) To give instructions to the BPM whenever necessary e) All the above

Description : Which of the following entry will be made in BO a) To invoice remittance noting the details of cash( including stamps) sent to the branch office b) To confirm the accuracy of the daily account last ... to the branch office. d) To give instructions to the BPM whenever necessary e) All the above

Last Answer : e) All the above

Invoice of articles returned to the Depot (Form S.K.-3) should be prepared in a) Single copy b) Duplicate c) Triplicate d) Quadruplicate

Description : Invoice of articles returned to the Depot (Form S.K.-3) should be prepared in a) Single copy b) Duplicate c) Triplicate d) Quadruplicate

Last Answer : c) Triplicate