Homework Clinic

Social Science Clinic => Accounting => Topic started by: vicky on Jul 5, 2018

Title: Dollar Co sold merchandise to Pound Co on account, 25,500, terms 2/15, net 45 . The Pound Co paid ...
Post by: vicky on Jul 5, 2018

Dollar Co sold merchandise to Pound Co on account, 25,500, terms 2/15, net 45 . The Pound Co paid the invoice within the discount period. What is amount of sales from the above transactions?
 a. 25,500
  b. 26,010
  c. 24,990
  d. 16,000

Question 2

Match each of the following firms with the one type of business it is considered to be. Each firm can be only one type of business.
 
  a. Service
  b. Merchandising
  c. Manufacturing
  d. Financial services
 
  _____ 1. Bug-a-boo Pest Control
  _____ 2. Toyota
  _____ 3. American Express
  _____ 4. Huntington Bank
  _____ 5. Abercrombie & Fitch
  _____ 6. Merry Maids

Title: Dollar Co sold merchandise to Pound Co on account, 25,500, terms 2/15, net 45 . The Pound Co paid ...
Post by: swimkari on Jul 5, 2018

Answer to Question 1

c

Answer to Question 2

a, c, d, d, b, a